RUSSIA’S FOOD RETAIL SECTOR CONTINUES TO BOOM, DESPITE CREDIT CRUNCH
February 1st, 2009
BY MARK ROWE
THE RUSSIAN food retail sector could provide a beacon of hope in a tough wider global food market in 2009. Major retailers posted high growth figures for 2008, and though all dipped in the last quarter, solid growth is anticipated this year. Russian food chain Dixy Group published full year turnover calendar year 2008 growth (compared with 2007) of 32% to 48.2 billion roubles (up 36% in US dollar terms to US$1.9 billion). The company's discount sector performed well, up 28% in rouble terms, up 32% in US dollars to US$1.6 billion. Growth slowed in ...
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