31st May 2013 07:09
OJSC MAGNIT - 24th "Magnit Family" Store OpeningOJSC MAGNIT - 24th "Magnit Family" Store Opening
PR Newswire
London, May 31
OJSC "Magnit" Announces the Opening of the 24th "Magnit Family" Store
Krasnodar, May 31, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 24th"Magnit Family" store.
Please be informed that today the Company has opened its 24th "Magnit Family"store located at 5 Chekhova street, Kinel, Samara region, Volga federaldistrict. Assortment of the store consists of more than 7,900 SKUs, out ofwhich about 77% are food items. There are 15 cash desks installed in the salesarea. The store is open 7 days a week from 9 am to 10 pm.
For further information, please contact:
Timothy Post Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 7600 Mob.: +7 (961) 511-76-78 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Deputy Director, 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:Magnit is Russia's largest retailer. Founded in 1994 by Sergey Galitskiy, thecompany is headquartered in the southern Russian city of Krasnodar. As of March31, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,209convenience, 153 hypermarkets, and 713 cosmetics) in more than1,600 cities andtowns throughout 7 federal regions of the Russian Federation.
In accordance with its audited IFRS consolidated financial statements foryear-end 2012, Magnit had revenues of $14.43 billion USD and an EBITDA of $1.52billion USD. Magnit's local shares are traded on the Moscow Stock Exchange(MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it hasa credit rating from Standard & Poor's of BB. Measured bymarket capitalization, Magnit is now Europe's 2nd largest retailer.
Related Shares:
MGNT.L