(Reporting by Olga Popova and Alexander Marrow
Editing by David Goodman
)
MOSCOW, March 17 (Reuters) - Russian food retailer X5 on Friday said declining profit in the fourth
quarter was partly owing to aggressive expansion of its network
of discount stores.
The active expansion of its Chizhik discount format is in
response to customers increasingly seeking the best value offer
for their money, CEO Igor Shekhterman said, pointing to sharply
higher revenue for the format.
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