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Russian food retailer Magnit July sales up 29.7 pct

Zoom in font  Zoom out font Published: 2013-08-12  Origin: Reuters  Views: 7
Core Tip: Russian food retailer Magnit said on Friday its sales rose by 29.7 percent in July, year-on-year, to stand at 49.2 billion roubles ($1.5 billion), after a rise of 30 percent in June.
Magnit, which recently overtook rival X5 as Russia's biggest grocery chain by revenue, said the July result brought sales for the first seven months of the year to 322 billion roubles, up 31.2 percent.

The company, also Russia's biggest food retailer by store count, opened 68 stores in July, bringing its total to 7,484.

Magnit recently lifted its full-year 2013 sales growth forecast to 27-30 percent, compared with about 34 percent in 2012.

 
 
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