Magnit, Russia's largest retailer in terms of store numbers, has revealed that its sales growth declined slightly through July, down to 38.1 per cent form the 38.8 per cent recorded last year.
The result marks the first year-on-year slowdown in sales growth at the group since November 2009, Reuters reported.
Net retail sales for the month climbed to R20.1bn (€509m or US$670m at current rates), or up 41.8 per cent in dollar terms at US$655.5m.
According to Magnit, growth through the month was driven by the addition of 59 new outlets across the country compared with the 56 launched in the same month last year.
