Russian retail chain Lenta sees its Fitch Ratings upgraded

St. Petersburg, Russia, 2016-Jul-13 — /EPR Retail News/ — Lenta, (LSE, MOEX: LNTA), one of the largest retail chains in Russia, today announced that the Fitch Ratings has upgraded its Long-term foreign and local currency Issuer Default Ratings (IDRs) from ‘BB-’ to ‘BB’ and its National Long-term rating from ‘AA-(rus)’ to ‘A+(rus)’. The outlook on the ratings is stable.

The upgrade of Lenta ratings to ‘BB’ reflects the Company’s proven execution of its sales growth strategy while maintaining strong profitability.

Fitch’s expectation that Lenta will be able to further strengthen its market position and increase the scale of its business over the medium term, while keeping conservative
credit metrics consistent with higher ratings.

About Lenta
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 147 hypermarkets in 72 cities across Russia and 42 supermarkets in Moscow and St. Petersburg, with a total of approximately 922,865 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 38,414 people as of 31 December 2015.

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:
Anna Meleshina,
Public Relations & Government Affairs Director
Tel: +7 812 363 28 53
E-mail: anna.meleshina@lenta.com

Anastasia Kuznetsova,
Corporate Communications Manager
Тel:+7 (812) 336 39 97
E-mail: a.kuznetsova@lenta.com

Citigate 
International Media:
David Westover and Marina Zakharova
Тel: +44 207 282 2886
E-mail: lentateam@citigatedr.co.uk

FTI Consulting
Russian Media:
Anton Karpov & Victoria Afonina
Тel:+7 495 795 06 23
E-mail: lenta@FTIconsulting.com

Source: Lenta

New Zealand: New World located in the iconic Devonport town centre gets upgraded

Change is afoot at Devonport New World, and the store’s owner-operator couldn’t be more excited.

Auckland, New Zealand, 2016-Jun-27 — /EPR Retail News/ — “The most exciting thing,” John Ashton says, “is we’re getting a completely new fresh food aisle, with new bakery and new service counters for deli, seafood and meat, and a new hot food cabinet.”

“It’ll all be brand new and I’m sure our shoppers are going to love it almost as much as me!” he says.

Monday 27 June marks the start of the build, in what is the fourth and final planned upgrade for the store which is located in the iconic Devonport town centre, on Auckland’s North Shore.

Ashton says the first three stages involved upgrades to the produce section and air conditioning, and installation of what was then the country’s first ‘green’ CO2 supermarket refrigeration system.

Now, he says the focus is on ‘freshness’ – and not just fresh food either.

“We’ll also be giving the inside of the store a fresh lick of paint, too, as part of a total revamp of the interior décor. The ceiling and floor tiles will be replaced, plus we’ll be getting new signage and energy saving LED strip lighting that will brighten up the whole store.”

He says the first part of the latest upgrade will be the creation of a new bakery, including new ovens.

“Unfortunately that does mean we have to close our bakery for four months. But we’ll still have a good supply of products baked daily by our same bakery staff, at a nearby New World store.”

Work will then begin on the rest of the fresh food aisle, transforming the existing deli, seafood, and meat counters into better-looking, more functional service counters.

“A new hot food cabinet will be added as well, which will be more energy efficient than the current one, and keep the food tasting better, longer.”

“Making room for all that does mean we have to move our milk fridge around to join up with the chilled foods, but that’s a natural fit, food wise.”

There’s good news for wine and cheese lovers, too, with the wine aisle’s layout changing to make it easier to select a good wine, a new chiller to keep it cool, and a separate fridge for specialty cheeses.

Topping it all off, the checkouts, customer service desk and Lotto counter will be upgraded with the latest technology and designs.

“It all adds up to a lot of work to be done over the next four months,” Ashton says, “but we will do everything in our power to ensure it’s a smooth transition for both our customers and our staff.”

He says the entire refurbishment is expected be completed by December, just in time for Christmas, by when Ashton says he expects to be feeling “like all my Christmases have come at once.”

MEDIA ENQUIRIES

Foodstuffs Communications Team Phone:
0800 376 3342

Source: Foodstuffs