17th Feb 2016 07:00
PJSC MAGNIT - 221st Hypermarket OpeningPJSC MAGNIT - 221st Hypermarket Opening
PR Newswire
London, February 17
Press-release
Krasnodar
February 17, 2016
PJSC “Magnit” Announces the Opening of the 221st Hypermarket
Krasnodar, February 17, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of the 221st hypermarket of a small format.
Please be informed that today the Company opened its 221st hypermarket of a small format located at 33/1 Kuznetsky prospect (“Oblaka” shopping center), Kemerovo, Siberian federal region. Assortment of the hypermarket consists of about 16,600 SKUs, out of which about 76% are food items. There are 14 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.
For further information. please contact:
| Timothy Post | Head of Investor RelationsEmail: [email protected]: +7-861-277-4554 x 17600Mobile: +7-961-511-7678Direct Line: +7-861-277-4562 |
| Investor Relations Office | [email protected] Line: +7-861-277-4562Website: ir.magnit.com/ |
| Media Inquiries | Media Relations [email protected] |
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2015, Magnit operated 33 distribution centers and 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
Related Shares:
MGNT.L