Sedmoi Kontinent 2009 Sales Up 12%

Russian supermarket retailer Sedmoi Kontinent has reported 12% year-on-year (y-o-y) sales revenue growth to RUB40.08bn (US$1.33bn) for FY09 (year to December 2009). Largely the result of traffic growth and the launch of five stores, double-digit growth was particularly impressive given the retailer's considerable exposure to the underperforming supermarket segment; BMI estimates that the segment grew 5.58% y-o-y in 2009 - down from 27.93% in 2008.

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