Krasnodar, RUSSIA, 2014-12-19 — /EPR Retail News/ — PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the new “Magnit Family” stores.
Please be informed that today the Company has opened its 87th and 88th “Magnit Family” stores.
The 87th “Magnit Family” store is located at 91, Krasnoflotskaya street (“Niagara” shopping center), Stavropol, North Caucasian federal region. Assortment of the store consists of more than 7,000 SKUs, out of which about 93% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.
The 88th “Magnit Family” store is located at Rybatskaya street, Novorossiysk, Krasnodar krai, Southern federal region. Assortment of the store consists of about 8,900 SKUs, out of which about 89% are food items. There are 13 cash desks installed in the sales area. The outlet is owned by the Company.
The store is open 7 days a week from 9 am to 11 pm.
For further information, please contact:
Timothy Post Director, Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562
Company description:
Magnit is Russia’s largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 million USD. Magnit’s local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor’s of BB. Measured by market capitalization, Magnit is one of the largest retailers in Europe.