With this opening, Lenta exceeds its initial target to organically open at least 40 hypermarkets in 2016 and surpasses its latest guidance of at least 50 hypermarket openings by the end of the year
St. Petersburg, Russia, 2016-Dec-29 — /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 Samara, by that expanding its network in the Volga region to 32 hypermarkets in 21 cities.
The new store is a Lenta compact format hypermarket located in GoodOk shopping centre at 131 Krasnoarmeyskaya str., Samara. The store has a total area of 9,755 sq.m with 5,668 sq.m of selling space and is open 24 hours, seven days a week. A broad product assortment of 19,000 SKUs has been selected specifically for residents of Samara and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 26 cash registers. The shopping centre has 5,000 parking spaces. The property is owned by Lenta.
The opening in Samara is Lenta’s fifty first hypermarket opening in 2016 and brings the total number of Lenta stores to 190 hypermarkets in 77 cities across Russia and 47 supermarkets in Moscow, St. Petersburg and the Central region.
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 190 hypermarkets in 77 cities across Russia and 47 supermarkets in Moscow, St. Petersburg and the Central region with a total of approximately 1,144,277 sq.m of selling space. The average Lenta hypermarket store has selling space of approximately 5,800 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.
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