Russian retailer Seventh Continent has booked a 22.5% rise in net retail sales year-on-year.

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Based on management accounts, the company’s 2008 gross retail sales reached RUB43.9bn. The number of customers increased 7% year-on-year.


In December alone, sales were up 10% at RUB4.85bn (US$146m).


Moscow’s largest grocery chain said sales growth in rouble terms from its hypermarket format reached 51% in 2008.


The company’s hypermarket format for the December period reached 43%.  

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At the end of 2008, Seventh Continent had 140 stores, including 131 supermarkets and nine hypermarkets. It opened 14 new outlets last year.

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