7th Jul 2015 08:31
PJSC MAGNIT - "Magnit Family" Stores OpeningPJSC MAGNIT - "Magnit Family" Stores Opening
PR Newswire
London, July 7
Press-release
Krasnodar
July 7, 2015
PJSC “Magnit” Announces the Opening of the New “Magnit Family” Stores
Krasnodar, July 7, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of the new “Magnit Family” stores.
Please be informed that today the Company has opened its 111th and 112th “Magnit Family” stores.
The 111th “Magnit Family” store is located at 15 Baki Urmanche street (“Olimp” shopping center), Nizhnekamsk, Republic of Tatarstan, Volga federal region. Assortment of the store consists of about 7,400 SKUs, out of which about 83% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 9 am to 10 pm.
The 112th “Magnit Family” store is located at 154 Istoricheskaya street, Volgograd, Southern federal region. Assortment of the store consists of more than 10,300 SKUs, out of which about 83% are food items. There are 13 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 10 pm.
For further information, please contact:
| Timothy Post | Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 |
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 March 31, 2015, Magnit operated 28 distribution centers and over 10,000 stores (8,581 convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately 2,180 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 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