21st Dec 2010 10:27
Press-release
Krasnodar
December 21, 2010
OJSC "Magnit" announces the opening of the "Magnit Kosmetik" test store of the "drogerie" format.
Krasnodar, December 21, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 1st "Magnit Kosmetik" store of the "drogerie" format.
Dear Ladies and Gentlemen!
We are glad to inform you that "Magnit" retail chain has launched the test store to study the new "drogerie" format. The major aim of the new store is to get the actual realization of the calculated parameters of the activity of the retail facility, the assortment of which will mainly consist of non-food items: personal care products, household chemicals, cosmetics and perfumery products. The first "Magnit Kosmetik" store was opened on December 20, 2010. The assortment of the store consists of over 3,500 SKUs. The store is open 7 days a week from 9:30 am to 9 pm.
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 Svishcheva | 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 the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of September 30, 2010 the chain consisted of 3,658 convenience stores and 35 hypermarkets in 1,156 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of September 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 2,262 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2010, the Company recorded consolidated revenue of approximately US$3,448 million and consolidated EBITDA of around US$252 million.
Related Shares:
MGNT.L