Russian Food Retailer O’Key Cuts Sales Target on Store Delays
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O’Key Group SA, a Russian food retailer that focuses on large supermarkets, cut its sales-growth target after saying delays in opening stores last year will weigh on 2013 revenue.
Chief Executive Officer Patrick Longuet now wants to increase sales by 24 percent to 28 percent this year, compared with an earlier target of 30 percent.