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22.05.2018 | Альбина Весина

Unaudited results of Obuv Rossii Group for the first quarter of 2018

The company «Shoes of Russia»– the first public company of the Russian fashion retail, announced unaudited financial results for the first quarter ended March 31, 2018.


According to the presented data, the volume of consolidated unaudited revenue of the Group in the first quarter of 2018 increased by 6.3% (to 2.26 billion rubles). Comparable network sales in Russia decreased by 10.9%, while the amount of the average check increased by 2.4%. The Group's gross profit amounted to RUB 1.188 billion. Net profit for the first quarter of 2018 reached 0.083 billion rubles.



Comments Anton Titov, director of the group of companies "Shoes of Russia": "Shoes of Russia" in the first quarter fulfilled plans for store openings. During the reporting period, the company's retail network increased by 34 stores and at the end of the first quarter had 569 outlets in 165 cities. The Group has expanded its geographical

presence and went to 10 new cities, and also continued to work on improving the range of shoes and related products. So, the lines of more fashionable shoes and casual sport style shoes have been expanded, which has been especially popular in the last few seasons. The company also introduced new product categories of related products, such as clothing of the middle layer. According to the results of the first quarter, the share of clothing in the company's retail sales increased to 15.2%, and the share of related products amounted to 33.4%. In the clothing category «Shoes of Russia » sees great potential for further growth.



The Group continues to develop omnichannel sales. In the first quarter, the share of online commerce in retail revenue reached 13.4%. The share of the mobile audience of online stores "Shoes of Russia" is growing: in the first quarter it increased by 11% and amounted to 53%. Taking into account this trend, the Group launched upgraded mobile versions of the websites of the main online stores in 2017 and and in May 2018, along with the Westfalika mobile application, which has been in existence since 2014, the Rossita mobile application for iOS and Android platforms will be launched. In the first quarter "Shoes of Russia" achieved significant results in improving the efficiency of online sales: the number of completed orders increased by 26%. This is due to the fact that the Group improves internal processes, the work of the call center and improves the delivery system.

The group is moving within the framework of the announced plans and by the autumn-winter season will fulfill the program for the development of the network for this year, opening 100 stores. The company's plans are also supported by positive dynamics in the shoe market: according to the forecasts of Discovery Research Group, the Russian shoe market in the next 5 years will grow on average by 4% in physical terms and by 6%8% in value terms. 


Photo: "Shoes of Russia"