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Retail

Russia's Magnit Sees Boost From Redeveloped Convenience, Drogerie Stores In H1

Russia's Magnit said that its sales were boosted by its reformatted convenience segment in the first half of its financial year, while its drogerie format also posted 'strong' sales growth.

The group said that total revenue in the first half increased to RUB 657.9 billion (€8.9 billion), a 10.5% increase on the same period last year.

Like-for-like sales were up 1.1% in the period, driven by a 4.1% growth in average basket size, and a 2.9% decline in traffic.

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