Fix Price Group PLC: The number of net new Fix Price store openings in 2022 exceeds targets
December 28, 2022 at 04:01 am EST
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Fix Price Group PLC (FIXP)
Fix Price Group PLC: The number of net new Fix Price store openings in 2022 exceeds targets
28-Dec-2022 / 12:00 MSK
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THE NUMBER OF NET NEW FIX PRICE STORE OPENINGS IN 2022 EXCEEDS TARGETS
By the end of December, the number of stores already adds up to 5,661
28December 2022– Fix Price, one of the leading variety value retailers globally and the largest in Russia, has expanded by more than 750new stores this year, including both Company-operated and franchised stores in Russia and abroad. As of 26December 2022, the number of stores stood at 5,661, up 757stores vs 31December 2021. Previously, the Company announced guidance for2022 of 750net openings (openings less closures).
Moscow and the Moscow Region accounted for the biggest increase in the number of stores (net openings)– 102. Next came the Krasnodar Territory and the Republic of Bashkortostan with 40 and 26new stores respectively. The chain also continued to expand in Russia's remote regions: in2022, new stores opened their doors in the Republic of Sakha (1), Kamchatka Territory (1) and Yamal-Nenets Autonomous District (4).
“We are proud to announce that despite this year’s challenges and unpredictability we managed to stick to our plans and open more stores than expected. Every month, Fix Price launches over 60stores across various regions. The Company maintains a high growth pace, driven by an efficient business model and single store format. Starting 2022, all new stores are equipped with manned as well as self-service checkouts to boost traffic and make shopping faster and more convenient. Next year, we are going to keep the momentum by opening at least 750new stores (net) and creating several thousands of new jobs.”
Vladimir Pogonin, Store Management Director at Fix Price
More details on the Company’s 2022performance will be available as we announce our operating results on 26January 2023.
About the Company
Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the largest in Russia, has helped its customers save money every day since 2007. Fix Price offers shoppers a unique and constantly refreshed product assortment of non-food goods, personal care and household products and food items at low fixed price points.
As of 30September 2022, Fix Price was operating 5,462stores in Russia and neighbouring countries, all of them stocking approximately 2,000SKUs across around 20product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 30September 2022, the Company was operating 10DCs covering 80regions of Russia and 6neighbouring countries.
In2021, the Company recorded revenue of RUB230.5billion, EBITDA of RUB44.2billion and net profit of RUB21.4billion, in accordance with IFRS.
Fix Price Group PLC is one of Russia's leading convenience store operating groups. Net sales break down by activity as follows
- retail distribution (88.7%);
- wholesale distribution (11.3%).
At the end of 2022, products marketing is ensured through a network of 5,663 stores, divided between directly-owned stores (5,039) and franchised stores (624).
FIX PRICE GROUP PLC 
