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Russian retailer Detsky Mir celebrates 27.7 per cent total revenue increase - ToyNews

Russian retailer Detsky Mir celebrates 27.7 per cent total revenue increase

The results follow a successful year for the children’s retailer that included the opening of 41 new stores.
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Russian children’s goods retail chain Detsky Mir is celebrating a “year of acceleration” reporting a 27.2 per cent total revenue increase in its latest financial results.

The firm’s like for like sales grew 13.4 per cent while its gross profit was also up 23.8 per cent, reaching $437 million, according to the results for the full year ending December 31st, 2013.

The results follow a successful year for the children’s retailer that included the opening of 41 new stores; 33 Detsky Mir branded stores and eight ELC branded stores.

The company also expanded its online store coverage from 66 to 98 cities across Russia.

Chief executive officer of Detsky Mir, Vladimir Chirakhov, said: “2013 was a year of acceleration of top line growth and improved operational efficiency for Detsky Mir.

“While the Group had strong revenue growth stemming from the roll-out of new stores and steadily improving like-for-like sales to 13.4 per cent, our focus throughout the year has been on optimizing operational efficiency resulting in a sharp increase in the adjusted EBITDA margin to 8.1 per cent in 2013 compared to 6.4 per cent in 2012.”

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