date:Jul 14, 2014
Russian food retailer O'Key said on Friday that retail revenues rose 12 percent in the second quarter, a deceleration from the 12.6 percent recorded in the first quarter.
O'Key in April lowered its sales growth forecast for the year to 12-16 percent from 15-19 percent. It is increasing advertising and promotions to try to attract customers. Like-for-like sales rose 3.8 percent versus 4.1 percent in the first quarter, it said.
The company, which has struggled to meet its expansion targets, rece