In Russia, Magnit has announced that net retail revenue jumped 26.3 per cent through August as the retailer continued to defy the economic downturn.
Net sales for the month totalled RUB14.8bn (€327.6m), the group said in a statement, although in dollar terms sales fell 3.6 per cent.
Net sales for the eight-month period to August 2009 amounted to RUB107.8bn (€2.4bn), a year-on-year increase of 31.9 per cent, while the group launched 349 new stores through the period.
Last month, Magnit reported on a successful first-half of 2009, with group profit soaring by 147 per cent to hit RUB3.9bn (€87.2m), up from RUB1.6bn (€35.8m) in 2008.
