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Dixy Sales Growth Slows

Russia's third-largest food retailer Dixy Group said Wednesday that its same-store sales growth slowed in the second quarter as competition increased.

Dixy's like-for-like sales — an indicator of performance excluding expansion — grew by 3.5 percent in the second quarter after a 5 percent rise in the preceding period, as it saw an outflow of shoppers with the number of bills down almost 2 percent after a rise of 0.4 percent in the first quarter.

Dixy's total first-half sales amounted to 87 billion rubles ($2.69 billion), up 23 percent — or 25 percent when adjusted for a leap year effect as its stores operated two days less in the first half of 2013 than in the same period of 2012.

The company expects full-year 2013 sales to increase by 25 percent compared with 2012.

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