Krasnodar, 2014-8-29 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 172nd hypermarket of a small format.
Please be informed that today the Company has opened its 172nd hypermarket of a small format located at Rovio street, Petrozavodsk, Republic of Karelia, North-Western federal district. Assortment of the hypermarket consists of about 12,500 SKUs, out of which about 78% are food items. There are 19 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 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 June 30, 2014, Magnit operated 24 distribution centers and over 8,600 stores (7,614 convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 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.