Russian discount retailer Magnit has announced a 39.2 per cent rise in sales for 2010, as it continues to push forward with store openings, according to a report from the Moscow Times.
The company opened some 827 stores last year, compared with 646 in 2009, with 189 coming in December alone.
Thanks also to a rise in consumer spending in the country, revenue reportedly reached Rbs236bn (€5.92bn), up from Rbs169.6bn (€4.26bn) in 2009.
Following three years of falling sales, the introduction of new, better varieties appears to have arrested the country’s decline
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Company said the facility will serve Germany’s largest retailers
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