November sales rose by 28.7% for Russian retailer Magnit
Magnit, which this year overtook rival X5 as Russia's No.1 grocery chain by revenue, said the November result brought sales for the first 11 months of the year to 516 billion roubles, up 30 percent on the year.
The company opened 181 stores last month, bringing its total to 7,920. Fast expansion will help it grow revenues by 28-29 percent this year, while next year's growth is likely to slow to 25-27 percent, the company has said.
Source: reuters.com
