Russian food retailer Magnit 2013 sales up 29 pct
Russia's biggest food retailer Magnit said on Friday sales rose 29.2 percent in 2013 to 579.5 billio…Russia's biggest food retailer Magnit said on Friday sales rose 29.2 percent in 2013 to 579.5 billion roubles ($17.4 billion).
Magnit, which overtook rival X5 as Russia's No.1 grocery chain by revenue last year, said December sales growth slowed year-on-year to 22.9 percent with revenue of 63.6 billion roubles.
The company, which has said growth in 2014 is likely to slow to 25-27 percent, now operates 8,093 stores.