April 16, 2014 / 10:06 AM / in 4 years

Russian electronics retailer M.video Q1 sales up 8 pct

MOSCOW, April 16 (Reuters) - M.video, Russia’s biggest consumer electronics retailer, said on Wednesday its first-quarter sales growth kept pace with growth in the previous quarter despite weakening consumer confidence.

M.video said sales rose 8 percent to 47 billion roubles ($1.3 billion) as it opened a net seven stores and increased online-based sales by 113 percent, year-on-year.

Like-for-like sales grew 1 percent after falling by 1.8 percent in the final quarter of 2013. ($1 = 36.1340 Russian Roubles) (Reporting by Maria Kiselyova; Editing by Megan Davies)

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