Krasnodar, Russia, 2014-2-10 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 47th “Magnit Family” store.
Please be informed that on February 8, 2014 the Company has opened its 47th “Magnit Family” store located at 62, Sovetskaya street, Bugulma, Republic of Tatarstan, Volga federal district. Assortment of the store consists of about 5,300 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 hypermarket is open 7 days a week from 9 am to10 pm.
For further information, please contact:
Timothy Post
Director, Investor Relations
Email: post@gw.tander.ru
Office: +7-861-277-4554 x7600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva
Deputy Director, Investor Relations
Email: Chistyak@gw.tander.ru
Office: +7-861-277-4554 x5101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562
Company description:
Magnit is Russia’s largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2013, Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 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 now Europe’s 2nd largest retailer.
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