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Russian retailer Magnit raises forecasts, defying economic slowdown
date:Jul 24, 2014
because its size gives it the purchasing power to source products more cheaply and offer lower prices than many rivals, and because many of its customers are low-income consumers who only buy what they need, analysts say.

The company raised its 2014 sales growth rate forecast to 26-29 percent in rouble terms, from 22-24 percent previously; and its core profit margin guidance to 10.6-10.9 percent, from 10.5 percent.

Its shares in London were up by 5 percent at 1300 GMT. Its Moscow-traded stock

12/21 20:43