St. Petersburg, Russia, 2016-Oct-04 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its tenth and eleventh hypermarkets in Moscow.
The larger new store is a Lenta compact hypermarket format located at 111 A Borisovo, Serpukhov district. The store has a total area of 9,363 sq.m, with 5,225 sq.m of selling space. It is open 24 hours a day, seven days a week and has 506 parking spaces and 30 cash registers. The property is owned by Lenta.
The second new store is a Lenta supercompact hypermarket format located at 125 Pushkina str., Lukhovitsy, and has a total area of 3,945 sq.m, with 2,887 sq.m of selling space. It is open from 8 am to 11 pm, seven days a week and has 270 parking spaces and 17 cash registers. The property is leased by Lenta.
The first store has a broad product assortment of 19,000 SKUs and the second one of 12,000 SKUs, both selected specifically for residents of Moscow and including Lenta’s private labels and federal product ranges alongside local produce.
These openings in Moscow are Lenta’s fifteenth and sixteenth hypermarket openings in 2016 and bring the total number of Lenta stores to 155 hypermarkets in 72 cities across Russia and 42 supermarkets in Moscow and St. Petersburg.
Lenta is the largest hypermarket chain in Russia (in terms of selling space) and the country’s fifth largest retail chain (in terms of 2015 sales). The Company was founded in 1993 in St. Petersburg. Lenta operates 155 hypermarkets in 72 cities across Russia and 42 supermarkets in Moscow and St. Petersburg, with a total of approximately 963,373 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 6,000 sq.m. The average Lenta supermarket store has selling space of approximately 1,000 sq.m. The Company operates six owned hypermarket distribution centres.
The Company’s price-led hypermarket formats are differentiated in terms of their promotion and pricing strategies as well as their local product assortment. The Company employed approximately 34,134 people as of 30 June 2016 1.
The Company’s management team combines a mix of local knowledge and international expertise coupled with extensive operational experience in Russia. Lenta’s largest shareholders include TPG Capital and the European Bank for Reconstruction and Development, both of which are committed to maintaining high standards of corporate governance. Lenta is listed on the London Stock Exchange and on the Moscow Exchange and trades under the ticker: ‘LNTA’.
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