Russian retailer Magnit Aug sales up 29 pct y/y
MOSCOW, Sept 10
MOSCOW, Sept 10 (Reuters) - Russian food retailer Magnit said on Tuesday its sales rose by 29.2 percent in August, year-on-year, to stand at 48.9 billion roubles ($1.48 billion), after a rise of around 30 percent in July.
Magnit, which recently overtook rival X5 as Russia's biggest grocery chain by revenue, said the August result brought sales for the first eight months of the year to 370.8 billion roubles, up 31 percent on year.
The company, also Russia's top food retailer by store count, opened 71 stores last month, bringing its total to 7,555.
Magnit said earlier it expects full-year 2013 sales to grow by 27-30 percent, compared with about 34 percent in 2012.
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