January 17, 2014 / 12:50 PM / 4 years ago

Russia's M.video says consumer confidence weakened at end-2013

MOSCOW, Jan 17 (Reuters) - Russia’s biggest home electronics and white goods retailer M.video said consumer confidence weakened in Russia’s regions in the fourth quarter of 2013, impacting annual sales figures which rose one percent on a like-for-like basis.

M.video, which has 333 outlets, said total sales rose 11 percent to 175 billion roubles ($5.2 billion) in 2013 as it opened 40 new stores.

In the fourth quarter, sales rose 8 percent with like-for-like sales down 1.8 percent. While the regions saw weaker performance, stores in Moscow and St Petersburg performed strongly, M.video said.

$1 = 33.4072 Russian roubles Reporting by Olga Sichkar and Megan Davies

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