Krasnodar, Russia, 2014-5-27 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 51st “Magnit Family” store.
Please be informed that today the Company has opened its 51st “Magnit Family” store located at 39, 30 Letiya Pobedy Boulevard, Volgograd, Southern federal district. Assortment of the store consists of about 5,900 SKUs, out of which about 80% are food items. There are 13 cash desks installed in the sales area. The out let is owned by the Company. The hypermarket is open 7 days a week from 9.30 am to 10 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: +7-861-277-4554 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 March 31, 2014, Magnit operated 23 distribution centers and over 8,200 stores (7,341 convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial statements 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 one of the largest retailers in Europe.