RUSSIA: Magnit H1 2015 sales up 30.3% | Progresiv
Magnit has reported sales of 454.8 billion roubles (7.9 billion dollars) for H1 2015, an increase of 30.3% year-over-year (y-o-y) from 349 billion roubles (9.9 billion dollars) driven by food inflation in Russia (which hit 10.8% in H1 2015). At the same time, in US dollar terms, the company’s sales revenues dropped by 20.8%. Like-for-like (LFL) sales increased 11.47. 
Convenience stores sales increased 26.76% to 338.4 billion roubles (5.9 billion dollars). Hypermarkets reported 79.4 billion roubles (1.4 billion dollars) in sales, an increase of 24%. Cosmetic (Drogerie stores) sales increased 98.6% to 15.6 billion roubles (271 million dollars).
Magnit Family sales increased 101.7% to 20.3 billion roubles (354 million dollars).
During the period, the retailer opened 1017 new stores including 546 convenience stores, 11 hypermarkets, 447 cosmetics stores, and 13 Magnit Family stores.
Selling area increased 23.17% to 3,928,000 square meters.
As of 30 June 2015, Magnit operated 10,728 stores including 8,890 convenience stores, 201 hypermarkets, 1,527 cosmetics stores, and 110 Magnit Family stores. (www.kantarretailiq.com)
