Russia's X5 retail group expects business growth of around 25% this year
MOSCOW, Oct 4 (Reuters) -Russia's largest food retailer X5 FIVEDR.MM expects its business to grow by 24%-25% this year and at no less than 17-18% each year up until 2028, CEO Igor Shekhterman said on Friday.
Shekhterman, presenting the retail group's strategy at a forum in Moscow, estimated Russia's grocery retail market would grow 9%-10% a year through to 2028.
X5's market share should grow to at least 20% by 2028 from close to 15% now, Shekhterman said, as consolidation in the sector continues.
Reporting by Olga Popova; Writing by Alexander Marrow; Editing by Sharon Singleton
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