MOSCOW. July 23 (Interfax) - German retail chain Media Markt increased its sales in Russia by 76.9% to 18.58 billion rubes in 2009 from 10.5 billion rubles in 2008.
According to the SPARK database, the hypermarket chain's net losses came to 314.4 million rubles compared to 1.14 billion rubles a year previous. OOO Media-Markt-Saturn's gross losses increased over the past year from 1.18 billion rubles to 3.18 billion rubles.
Media Markt runs a chain of 23 hypermarkets selling electronics and household appliances. The company is part of Germany's Metro Group, one of the world's biggest retailers.
The company opened 13 stores in 2009, one less than they did in 2008, including four Metro Cash & Carry, three Real hypermarkets and six Media Markt stores. As of the end of 2009, the German retailer's chain included 87 outlets.