sian retailer Magnit announced today that it has opened its 145th small format hypermarket. The new store, which is located in the Volga federal region of Russia sells around 8500 SKUs, of which 78% are food items.The chain, which is also Russia's largest food retailer by store count with some 7500 outlets and 18 distribution centre, opened 68 stores in July.
Magnit announced on Friday that its sales rose by 29.7% in July year-on-year to stand at 49.2 billion rubles (US$1.5 billion).
Magnit, which recently overtook rival X5 to become Russia's biggest grocery chain by revenue, said that the July sales brought the total for the first seven months of the year to 322 billion rubles.
The chain, which is headquartered in the southern Russian city of Krasnodar was founded by Sergey Galitskiy in 1994.
