Russian electronics retailer M.Video posts strong results for Q1 2012-- with unaudited net sales growing by 18.8% Y-o-Y (or 30.6% Q-o-Q) to total €1 billion euro.
The results follow an equally strong 2011 for the retailer, when total net sales grew by 29.3% Y-o-Y to reach €3.4 billion.
During Q1 2012 M.Video also opened 7 stores, together with one closure in St Petersburg. It now has 267 retail outlets (with overall sales space of 492000 square metres) and plans to open 25-35 new stores in 2012.
M.Video uses a multi-channel approach to retail (the so-called "Omni-Channel strategy), with both in-store and online service.