With this opening, Lenta expands its network in the Urals to 17 hypermarkets in 8 cities. As of today, the retail space of Lenta stores exceeds 1 million square metres.
St. Petersburg, Russia, 2016-Nov-20 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its second hypermarket in Magnitogorsk.
The new store is a Lenta compact format hypermarket located at 23 Vokzalnaya str., Magnitogorsk. The store has a total area of 9,810 sq.m with 5,272 sq.m of selling space and is open from 8.00 am to 11.00 pm, seven days a week. A broad product assortment of 19,000 SKUs has been selected specifically for residents of Magnitogorsk and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 350 parking spaces and 30 cash registers. The property is owned by Lenta.
The opening in Magnitogorsk is Lenta’s twenty third hypermarket opening in 2016 and brings the total number of Lenta stores to 162 hypermarkets in 75 cities across Russia and 43 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 162 hypermarkets in 75 cities across Russia and 43 supermarkets in Moscow and St. Petersburg, with a total of approximately 1,002,732 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,900 sq.m. The average Lenta supermarket store has selling space of approximately 1,000 sq.m. The Company operates seven owned 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 20161.
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’.
A brief video summary on Lenta’s business and its Big Data initiative can be seen here.
For further information please visit www.lentainvestor.com, or contact:
Public Relations & Government Affairs Director
Tel: +7 812 363 28 53
Corporate Communications Manager
Тel:+7 (812) 336 39 97
Тel: +44 207 282 2886
Anton Karpov & Victoria Afonina
Тel:+7 495 795 06 23