11 Jan 2011 15:54

Magnit sees sales revenue go up 39% to 236 bln rubles in 2010

MOSCOW. Jan 11 (Interfax) - Russian retailer Magnit posted 236.1 billion rubles in sales revenue for 2010, which was a 39.2% increase from 2009 (169.6 billion rubles), the company said in a statement.

In dollar equivalent, the company's revenues increased by 45.4% to $7.8 billion.

Magnit's sales revenue for December came to 28.69 billion rubles, which was a year-on-year boost of 49.7%. In dollar terms, the company's sales revenue for December went up by 45.2% to $929.7 million.

Magnit's like-for-like sales in 2010 increased by 9.2%, including LFL sales at hypermarkets, up 15.5%, and convenience stores, 8.9%. The average check for all stores went up by 5.9%, hypermarkets - 5.3% and convenience stores - 3%. Costumer traffic rose by 3% last year (9.8% for hypermarkets and 3% for convenience stores).

Magnit's LFL sales in the fourth quarter increased by 18.2%. The company's hypermarkets and convenience stores saw LFL sales go up by 18.7% and 18.1%, respectively in the quarter. The average check for the period increased by 11.9% while customer traffic climbed up by 5.6%.

Magnit opened 827 outlets in 2010, including two self-service stores. The total chain came to 4,055 outlets, including 4,004 convenience stores and 51 hypermarkets. The company saw its total commercial floorspace increase by 34.2% to 1.4 million square meters.