Magnit continues to prosper in H1 2013

Magnit has reported preliminary consolidated unaudited net retail revenue of RUB272.8 billion (USD8.8 billion). This figure represents a 31.5% climb over the first six months of 2013 against its H1 2012 figure. Like-for-like sales at the Russian grocery retailer grew 5.3%, driven by a 5.7% growth in basket and a 0.4% decline in traffic. The retailer has expanded faster than in H1 2012, opening a net 532 outlets, of which 506 were supermarkets and neighbourhood stores.

Planet Retail