date:Jul 24, 2014
Russia's biggest food retailer Magnit raised its full-year forecasts on Wednesday after it reported strong quarterly earnings, proving resilient to Russia's slowing economy.
Magnit has been trying to attract customers and expand its stores at the same time as an economic slowdown exacerbated by the Ukraine crisis threatens to choke consumer spending.
Yet the retailer, which has a chain of more than 8,600 neighbourhood stores, is showing little sign of being hit by the slowdown. This is partly