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

To contact the editor responsible for this story: Gavin Serkin at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.