Russian food retailer Magnit said last week its sales rose by 33 percent in April, year-on-year, to stand at 45.8 billion roubles ($1.5 billion), in line with growth in the previous month.
Magnit, which recently overtook rival X5 as Russia’s biggest grocery chain by revenue, said the April result brought sales for the first four months of the year to 177 billion roubles, an increase of 31 percent.
The company, also Russia’s biggest food retailer by store count, opened 92 stores in April, bringing its total to 7,167 as of April 30.
Magnit had said it plans to grow revenue by between 27 and 29 percent in rouble terms this year, compared with about 34 percent in 2012, backed by a $1.8 billion capital spending programme.
Source: www.freshplaza.com