Russian supermarkets reap benefits from food import ban

Russian supermarkets: The plummeting rouble and the ban on European food imports appear to be driving Russian consumers into supermarkets and discount food stores. Russia’s biggest food retailer Magnit last week reported a 21% growth in revenue in the first 9 months of 2014 while its closest rival the X5 Retail Group reported a 23% year-on-year revenue growth for the third quarter. The Moscow Times