RUSSIA: Retailer Magnit books 7% in Q1 LFLs
Magnit LFL sales growth picked up from 2013
Russian retailer Magnit saw like-for-like sales rise over 7% in the first quarter of 2014, it said today (10 April).
Magnit, which has over 8,200 stores, posted a 7.5% increase in like-for-likes. In 2013 as a whole, Magnit saw its like-for-like sales rise 3.9%.
Sales from Magnit's convenience stores - of which it runs over 7,300 - were up 6%. Growth from its hypermarkets and cosmetics stores was higher at 9.2% and 53.5%.
Magnit saw ticket and traffic growth across each of its formats, although its c-stores saw traffic inch up by just 0.6%.
The retailer's net sales were up 25% at RUB163.95bn (US$4.61bn).
Pasta, in particular dried pasta, in Russia has been steadily developing for a long period and in 2014 it was displaying signs of saturation. However, with changes in consumer preferences, there remai...
Dried pasta and rice are the leading areas in volume terms within dried processed food in Russia, accounting for 90% of overall volume sales in 2014. With rising interest in Italian and Asian cuisine ...
- Nestle on China, candy, nutrition - analysis
- Why Jet.com purchase could boost Wal-Mart online
- What lies ahead for Tyrrells and Amplify?
- England child obesity plan should cheer industry
- Hain accounting issue rounds off problem year
- Mondelez buys rest of Vietnam snacks business
- Lotus Bakeries enjoys growth organically, via M&A
- Smucker cuts forecast as sales decline
- Emmi earnings grow but sales outlook lowered
- Unite outlines 2 Sisters stance on UK pizza site