Following its merger and subsequent majority takeover of the MediaMarkt Russia business, electricals specialist M.Video-Eldorado, owned by the Safmar Group, has reported a 10.4% sales gain for its H1 2019 period. Total sales including VAT amounted to RUB193.62 billion. M.Video January-June sales increased 11.7% to RUB130.21 billion, while sales of Eldorado increased 8% to RUB63.419 billion. Total group sales in Q2 were up 9.1% in annual terms and amounted to RUB92.23 billion.
Like-for-like sales in H1 were up a mere 0.4%, with a decrease of 1.5% in Q2. Eldorado Q2 comps were down 5.3% due to greater promotions and product mix change. In H1, M.Video-Eldorado expanded its network to 36 stores, including 15 M.Video stores, 17 Eldorado stores, and 4 m_mobile stores. Total store numbers at the end of June was 977.