Obuv Rossii posted a 161.8 percent hike in net profit for the first quarter of 2019, as compared to the same period of the previous year. The Russian shoe retailing generated earnings of 217 million rubles (€3.02m-$3.39m) during the period, compared with 83 million rubles in the first quarter of 2018. There were multiple factors contributing to this growth, including the relocation of some of the stores to places with higher foot traffic, cuts in rental costs and significant growth in credits to customers resulting from higher interest rates. In addition, sales climbed by 42 percent in the e-commerce segment as compared to the same period of the previous year. The share of this segment reached 14 percent of the overall turnover. The company made special efforts to further promote its online sales by improving stock management and through other measures. For the coming two or three years, Obuv Rossii has set a target to open new stores in smaller towns with populations of 15,000 to 250,000 people. These are said to be attractive destinations because of rather weak local competition and low investments costs. The company wants to launch 150 new stores this year, all of them in the smaller Russian towns. Obuv Rossii opened 42 stores during the first quarter of 2019.