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)