With this opening, Lenta expands its network in the North-West region to 12 hypermarkets in 7 cities
St. Petersburg, Russia, 2017-Mar-06 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its third hypermarket in Cherepovets.
The new store is a Lenta compact format hypermarket located at 50A Kirillovskoe av., Cherepovets. The store has a total area of 8,558 sq.m with 4,321 sq.m of selling space and is open from 8.00 am till 11.00 pm, seven days a week. A broad product assortment of 17,000 SKUs has been selected specifically for residents of Cherepovets and includes Lenta’s private labels and federal product ranges alongside local produce. The store has 254 parking spaces and 25 cash registers. The property is owned by Lenta.
This opening in Cherepovets is Lenta’s third hypermarket opening in 2017 and brings the total number of Lenta stores to 194 hypermarkets in 78 cities across Russia and 50 supermarkets in Moscow, St. Petersburg, Novosibirsk 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 194 hypermarkets in 78 cities across Russia and 50 supermarkets in Moscow, St. Petersburg, Novosibirsk and the Central region with a total of approximately 1,161,206 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 900 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 45,689 people as of 31 December 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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