X5 Retail strong Q2

The Russian retail Group NV said second quarter net profit reached $74 million, up more than five-fold from $14 million in the year-earlier period thanks to surging sales and tighter cost control.

 As of June 30, X5 Retail operated 991
stores in Russia and Ukraine. Franchisees operated another 710
outlets in Russia and Kazakhstan.

Second quarter sales totaled $1.980
billion, up 60 percent from $1.241 billion.