Get the app today! Download iPhone App Download Android App

Russia's Magnit Sees Like-For-Like Sales Down 5.2% In Second Quarter

Published on Aug 21 2018 10:30 AM in Retail tagged: Trending Posts / Russia / Magnit / Hypermarkets / Paywall / like-for-like sales / Magnit Family

Russia's Magnit Sees Like-For-Like Sales Down 5.2% In Second Quarter

Russia's Magnit retail chain posted a like-for-like sales decline across all its divisions, bar its drugstore operation, in the second quarter of its financial year, citing low inflation and increased competition.

According to the group's reviewed half-year results, it saw a total like-for-like decline of 5.2% in the second quarter, with its convenience-store arm seeing a 5.4% decline, its hypermarket division posting a 6.7% decline, and its supermarket business posting a 5.7% drop.

In all cases, both average ticket and traffic saw like-for-like declines.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on LinkedIn Share on Tumblr Share via Email