Russian retailer Magnit has recorded an increase in sales in the first quarter of 2013.
Consolidated net revenue increased by 30.4% to RUR131.22bn (US$4.25bn), the group reported today (10 April). Magnit recorded like-for-like sales growth of 4.8%.
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The retailer opened 191 stores in the three-month period, bringing the total number to 7,075. This comprises: 6,209 convenience stores, 132 hypermarkets, 21 Magnit Family stores and 713 cosmetics stores. Customer traffic was up 21.6%.
