5th May 2009 07:33
Press-releaseKrasnodarMay 5, 2009
OJSC "Magnit" announces the opening of the fifteenth hypermarket
KRASNODAR, May 5, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the fifteenth hypermarket.
Dear Ladies and Gentlemen!
We are glad to inform you that today is the technical opening of fifteenth "Magnit" hypermarket located at 111 Kalarash street, Lazarevskoye village, Sochi. Total space of the store is 4,745 sq. m. and its selling space is 2,500 sq. m. Assortment of the "Magnit" hypermarket consists of over 8,000 SKUs, out of which 80% are food items. There are 19 cash desks installed in the sales area.
For further information please contact:
|
Oleg Goncharov |
Director, Investor Relations e-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40 -35 Direct line for investors only: +7 (861) 277-45-62 |
|
Dina Chistyak |
Manager, Investor Relations e-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 |
Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is a holding company for a group of entities that operate in the retail trade under the "Magnit" name. The chain of "Magnit" stores is one of the leading operators in the Russian food retail market. As of December 31, 2008 the chain consisted of 2,568 convenience stores and 14 hypermarkets in 856 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of December 31, 2008 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,165 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2008, the Company posted consolidated revenues of approximately US$ 5,348 million and a consolidated EBITDA of around US$ 402 million
Related Shares:
MGNT.L