December 10, 2014 / 7:15 AM / 5 years ago

Russia's Magnit says November sales rise 33.2 pct

MOSCOW, Dec 10 (Reuters) - Russia’s biggest food retailer Magnit said on Wednesday sales rose by 33.2 percent in November, year-on-year, to 66.9 billion roubles ($1.23 billion) after a 36 percent rise in the previous month.

The slowdown is due to the large number of store openings in November 2013 which created a high base-effect and was partly offset by higher inflation this year, Magnit said in a statement.

Magnit’s sales in January-November rose 30.9 percent, year-on-year. It had said it expected 31-32 percent revenue growth in 2014. ($1 = 54.2577 roubles) (Reporting by Maria Kiselyova, editing by Elizabeth Piper)

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