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Russian retailer Magnit 2013 sales up 29 pct
January 10, 2014 / 7:16 AM / 4 years ago

Russian retailer Magnit 2013 sales up 29 pct

MOSCOW, Jan 10 (Reuters) - Russia’s biggest food retailer Magnit said on Friday sales rose 29.2 percent in 2013 to 579.5 billion roubles ($17.4 billion).

Magnit, which overtook rival X5 as Russia’s No.1 grocery chain by revenue last year, said December sales growth slowed year-on-year to 22.9 percent with revenue of 63.6 billion roubles.

The company, which has said growth in 2014 is likely to slow to 25-27 percent, now operates 8,093 stores.

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