"Shoes of Russia" continues to grow
The group of companies "Shoes of Russia", one of the two largest shoe retailers in Russia and the leader of the mid-price segment of the shoe market, which includes 533 stores in more than 140 cities of Russia and two production sites, reports a record increase in New Year's sales: in The period from December 1 to December 18, comparable sales in the company's stores (like-for-like) increased by 30% compared to the same period in 2016.
The main reason for the growth of comparable sales in the company is the revival of demand.
"December is the period of the traditional seasonal and New Year's sales, but in previous years we have not noted such a high growth in turnover. This year, buyers are especially active: comparable sales from December 1 to December 18 increased by almost a third, the total number of receipts increased by 24%, the average receipt increased by 3.32% compared to the same period in 2016. We have been seeing a revival in demand since the beginning of this season, in general, the entire range is in demand now, including more expensive fashionable shoes of various colors, as well as classic holiday shoes. This year was a turning point for the shoe market: it returned to growth in physical terms.
Anton Titov, Director of the group of companies "Shoes of Russia"
The growth of consumer activity is also associated with the effect of deferred demand: shoes are a product with a service life of 1.5-2 years, and those people who saved on purchases in 2015-2016 are gradually returning to stores. Seasonality also affects. So, in December, the leaders of sales in the stores of «Shoes of Russia» were models of shoes made of colored materials, as well as boots and boots in casual style. Especially popular are comfortable shoes - monolithic sole, low heel, good protector.
Director of the group of companies "Shoes of Russia", Anton Titov, among other things, said that he plans to make market purchases of the company's shares, thereby confirming confidence in its further growth. The volume and size of the planned purchases will depend on the state of the market, and, of course, they will take place in compliance with all regulatory requirements.
Financial indicators of "Shoes of Russia" for 9 months of 2017 are impressive. The volume of the Group's consolidated unaudited revenue increased by 12% and amounted to RUB 7.23 billion; net profit increased by 9% to RUB 670 million. For 11 months of 2017, the retail network increased by 79 stores, in December the company will open 6 more. The plans of "Shoes of Russia" for active development are supported by positive forecasts for the shoe market. Thus, in the 1st half of 2017, the market growth in pairs amounted to 17.2%. In the next 5 years, according to the forecasts of Discovery Research Group, the market will increase on average by 6.7% in physical terms and by 9-11% in monetary terms.
Source and photo: "Shoes of Russia"