Magnit, which has the largest number of retail outlets in Russia, intends to invest USD1.5 billion in opening 800 convenience stores, about 200 drugstores under the Magnit Cosmetic brand and up to 55 hypermarkets in 2011, the retailer said. In contrast to this, Auchan has announced it will be opening fewer stores than planned in 2011, as it is hard to find suitable land.
Last year the retailer opened 800 supermarkets and neighbourhood stores and 27 hypermarkets, whereas its rival X5 has expanded its store network by around 480 stores.
Source: www.retail.ru