Magnit Climbs to One-Month High on 32% May Sales Growth

OAO Magnit, Russia’s largest food retailer by market value, jumped to a one-month high after May sales advanced 32 percent from a year earlier on new store openings.

Magnit climbed 0.8 percent to 3,576.39 rubles by the close in Moscow, advancing to the strongest level since May 10.

Sales rose to 35.9 billion rubles ($1.1 billion) last month from 27 billion rubles a year earlier, the company said in a statement today.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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