OREANDA-NEWS  On 21 November was announced, that JSC “The Seventh Continent” (further referred to as the Company) October 2008 trade sales in rubles increased 25% (18% in USD) YoY.

The growth in sales in rubles terms in the hypermarket format for October 2008 reached 58% (48% in USD). The growth in regional sales in rubles reached 48% (40% in USD) YoY.

Based on management accounts the Company’s October 2008 gross retail sales[1] reached 3 715 mn. rubles or USD 141 mn.

As of the end of October 2008 the selling space of the Company’s stores under the brands “The Seventh Continent” (supermarkets), “Nash Hypermarket” (“Our Hypermarket”) and “Prostore” increased 20% compared with the same period of 2007 and accounts for 171,3 th. sq. m.

In the accounting period the Company entered new city in Moscow region and continued its multiformat expansion in Yaroslavl. New "The Seventh Coninent – Universam” was opened in Kolomna (the following address: Oktyabrskoi revoluzii street, 362) and in Yaroslavl first supermarket of the chain was opened (the following address: Slepneva street, 23).

From the beginning of the year 2008 the Company opened 13 new stores including 3 hypermarkets.  Selling space increased by 24,4 th. sq. m., including the 16,6 th. sq. m. in the hypermarket format. As of the end of October 2008 the Company managed 140 stores, including 131 supermarkets and 9 hypermarkets.

[1] The sales figure includes gross retail sales including VAT and does not include other revenues