Magnit, Russia’s second-largest supermarket chain, said today (17 July) that revenues soared 54.5% during the first half of the year as it continued to expand its store network.
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The company posted net sales of US$1.6bn after a period in which it opened 116 new stores to bring its total number of outlets to just over 2,000.
Like-for-like sales – excluding new store openings – jumped 22.9% during the first half, Magnit said.
