Magnit has announced that its sales increased 43 per cent through July, when compared with the previous year, as it pushed forward with store openings.
The Russian grocery retailer noted that sales came in at R28.8bn (€686m) in July, up from the R20.1bn recorded last year and R27.2bn registered in June, Reuters reported.
Despite the growth, the result actually represented a slight slowdown in sales growth on June, when year-on-year sales growth stood at 46 per cent, and selling space climbed 39.5 per cent.
Reuters said that, as of the end of July, Magnit operated over 4,500 outlets, of which 87 were launched last month.
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