Fix Price has closed 12 stores in Uzbekistan since the beginning of the year

Russia's Fix Price discount chain is reducing the number of stores in Uzbekistan, according to the company's quarterly report.

In January-March, the company closed 12 stores across the country. If on December 31 Fix Price had 42 outlets in the country, by the end of March their number had dropped to 30.

For comparison, in the first quarter of 2021, Fix Price will open 10 branches - a new store every week. In addition, the discounter plans to expand its activities as a major market with great potential in Uzbekistan.

In three months, Fix Price closed 33 stores, including one in Kazakhstan. However, new outlets have opened in other countries as well. There are currently 5,083 stores in the network.

The company also noted a decline in LFL traffic in Kazakhstan and Belarus due to sanitary restrictions and a "difficult macroeconomic and political environment".

However, in the first quarter of 2022, the network earned 62.6 billion rubles (about $ 845 million). Compared to the same period last year, sales increased by 11.6% and revenue by 21.2%.