Russian retail group Magnit has announced that sales jumped 44 per cent during December, with revenues rising to 15.6m roubles (€395.7m).
The results allayed concerns that Russia's weakening economy could hit consumer confidence and retail sales throughout the holiday period, Reuters reported.
Preliminary revenues for the full year hit 132.4bn roubles (€3.35bn), although growth had slowed from the first nine months of the year when the group reported revenues up 51 per cent.
