Russia's Magnit sales rise 24.5 pct in March
summary：Russia's biggest food retailer Magnit said on Thursday its sales increased 24.5 percent in March, year-on-year, slowing from 25.2 percent in February....
Russia's biggest food retailer Magnit said on Thursday its sales increased 24.5 percent in March, year-on-year, slowing from 25.2 percent in February.Magnit said sales amounted to 59.8 billion roubles ($1.7 billion) last month when it opened 49 new stores, bringing its total to 8,256. First-quarter like-for-like sales were up 7.5 percent, year-on-year.
The company earlier cut its full-year 2014 sales growth forecast to 22-24 percent from 25 percent as an economic slowdown started to hurt consumer confidence.