Subscribe Login

Magnit Might Be Growing, But Like-For-Like Performances Tell A Different Story

By Steve Wynne-Jones
Share this article
Magnit Might Be Growing, But Like-For-Like Performances Tell A Different Story

Russian retailer Magnit might have posted a 6.37% increase in revenue last year, but when it comes to how the company performed on a like-for-like basis, the devil is in the detail.

According to the group's audited full-year sales report, published this week, like-for-like sales at its hypermarket division were down 10.24% last year, with the average basket down 2.53% and traffic down 7.91%.

Its Magnit Family supermarket business saw like-for-like sales decline 7.82%, driven by a 1.21% decrease in average basket, and a 6.7% decrease in Traffic.


30 Day Free Trial

Try European Supermarket Magazine Premium

Enjoy full access to European Supermarket Magazine, our weekly
email news digest, access to all website and app content, and the latest digital
magazine for a full 30 days.

  • - Payment details required during trial sign up.
  • - You may cancel at any time up to the end of the 30-day trial period.
  • - If you continue after the trial perion, then the annual rate of €109+VAT will be debited.
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.