Magnit reports record store openings in 2012

Russian retailer Magnit has reported preliminary consolidated unaudited net retail revenue of RUB448.486 billion (USD14.303 billion) for fiscal 2012, up 33.63% on the previous year. Like-for-like sales grew by 8.50% driven by a 7.83% growth in basket and 0.62% increase in traffic.

In contrast to 2011, hypermarkets outperformed supermarkets & neighbourhood stores with like-for-like growths of 11.43% and 8.01% respectively.

Magnit opened a record 1,575 stores, including 1,057 supermarkets & neighbourhood stores, 36 hypermarkets and 482 drugstores. It closed the year operating a total of 6,884 outlets.

Planet Retail