May 8, 2014 / 8:15 AM / 4 years ago

CORRECTED-UPDATE 1-Russia's Magnit April sales boosted by early Easter

(Corrects reference to March in paragraph 2)

* Sales rise 30.5 pct after 24.5 pct rise in March

* Last year, Easter came in May

* Expectations for May “should be adjusted accordingly”

MOSCOW, May 8 (Reuters) - Russia’s biggest food retailer, Magnit , said on Thursday its sales growth accelerated last month, boosted by trading over Easter which came earlier than last year.

April sales rose 30.5 percent year on year to 59.7 billion roubles ($1.7 billion), after 24.5 percent rise in March. This year, Easter was celebrated in April, while last year it was in May.

“Expectations for the May sales growth rate should also be adjusted accordingly,” Magnit said in a statement, adding that April results were also helped by higher food inflation.

It earlier cut full-year 2014 sales growth forecast to 22-24 percent from 25 percent as an economic slowdown started to hurt consumer confidence.

Magnit said opened 87 new stores last month, bringing its total to 8,343.

$1 = 35.4124 Russian Roubles Reporting by Maria Kiselyova; editing by Jason Neely

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