Fix Price Group PLC (FIXP)
02-Jul-2024 / 17:30 MSK
FIX PRICE OPENS 300TH STORE IN KAZAKHSTAN The Company plans to expand its store footprint in Kazakhstan by 40 stores in 2024 2 July 2024 – Fix Price Group PLC (LSE and MOEX: FIXP, AIX: FIXP.Y, “Fix Price”, the “Company” or the “Group”), one of the leading variety value retailers globally and the largest in Russia, has announced the launch of its 300th store in Kazakhstan. The anniversary outlet opened in Almaty. As of 30 June 2024, Fix Price operated 304 stores across Kazakhstan, including 287 Company-operated and 17 franchise stores located in 19 regions and 55 cities, towns, and localities, with the total selling area exceeding 66,000 sq. m. Top regions by the number of Fix Price outlets include Astana (43), Karaganda (38) and Pavlodar (33) regions, and Almaty (30). | “We see solid growth potential for Fix Price in Kazakhstan. We expanded our store network by 24 outlets in the first half of 2024 and plan to open 16 additional stores by the end of the year (net openings). Apart from offline development, we enhance our online presence through integration with marketplace partners and availability of click-and-collect options. The dynamic growth of our loyalty program – up 30% from the beginning of the year to 740 thousand members in June 2024 – is a testimony to our product and price offering appeal to the consumers in this attractive market.” Dmitry Kirsanov, Managing Director, Fix Price Group |
Although the Company generally maintains standardised assortment mix, Fix Price outlets in Kazakhstan sell locally manufactured goods as well. For instance, the shares of locally made household chemicals and food products in sales (in volume terms) were 4% and 8% respectively in the first half of 2024. In order to optimise the work with the local assortment, the Company leased a distribution centre in Astana in 2023. Fix Price provides jobs to 1,900 employees in Kazakhstan. | About Fix Price Fix Price (LSE and MOEX: FIXP, AIX: FIXP.Y), one of the leading variety value retailers globally and the largest in Russia, has been helping its customers save money every day since 2007. Fix Price offers its customers a unique and constantly updated assortment of non-food goods, including personal care and household products, and food items at low fixed price points. As of 31 March 2024, Fix Price was operating 6,545 stores in Russia and neighbouring countries, all of them stocking approximately 2,000 SKUs across around 20 product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 31 March 2024, the Company was operating 13 DCs covering 81 regions of Russia and 8 neighbouring countries. In 2023, the Company recorded revenue of RUB 291.9 billion, EBITDA of RUB 53.1 billion and net profit of RUB 35.7 billion, in accordance with IFRS. | | Contacts | Fix Price Investor Relations | Fix Price Media Relations | | | Elena Mironova ir@fix-price.com | Ekaterina Goncharova pr@fix-price.ru |
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