OREANDA-NEWS. OJSC "Magnit", Russia's largest food retailer (the "Company"; MICEX and LSE: MGNT) announces 34.13% retail sales growth in rubles for August 2014.

During August 2014 the Company opened (net) 166 stores. The total store base reached 8,899 stores (7,812 convenience stores, 172 hypermarkets, 62 "Magnit Family" stores and 853 drogeries).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 8M 2014 increased by 29.49% in ruble terms (compared to 8M 2013) and stood at 480,181.89 million rubles.

According to Rosstat food inflation in August 2014 amounted to -0.3% compared to -0.7% in August 2013, in 8M 2014 7.3% compared to 4.4% in 8M 2013.