Singapore-based IT retailer Challenger says its sales during the first nine months grew 18 per cent to US$233.6 million.

Challenger operates 34 Challenger, Valore and Musica stores in Singapore and three in Malaysia.

A 20 per cent sales decline in Malaysia was offset by a 21 per cent sales rise in Singapore.

“We grew our revenue and profit for the nine months despite the tough retail environment. We are excited to go into the fourth quarter, which is traditionally a good quarter for retailers like us,” said CEO Loo Leong Thye.

In addition to the eight new Challenger stores opened in Singapore this year, the retailer will open another three new Valore concept stores in the city-state in the next two months.