3rd Jul 2017 13:07
PJSC MAGNIT - Opening of the 11000th Convenience StorePJSC MAGNIT - Opening of the 11000th Convenience Store
PR Newswire
London, July 3
Press Release
Krasnodar
July 3, 2017
Magnit Has Opened the 11,000th Convenience Store and the 1,000th Convenience Store in the Moscow region
Krasnodar, July 3, 2017: Magnit PJSC, one of Russia’s leading retailers (the “Company”; MOEX and LSE: MGNT) announces the opening of the 11,000th convenience store and the 1,000th convenience store in the Moscow region.
Please be informed that the Company has opened its 11,000th convenience store at the following address: 42 Sovetskaya street, Umet village, Zubovo-Polyanskiy district, Republic of Mordovia. This is the first “Magnit” store in this village. The population of Umet is 2,600 people. The total space of the store is 311 sq. m. and its selling space is 237 sq. m. The outlet is leased by the Company.
Moreover, the 1,000th “Magnit” convenience store in the Moscow region has been opened at 116 b) Sovetskaya street, Bronnitsy. This is the first "Magnit" store in this town where the population is about 22,500 people. The total space of the store is 682 sq. m. and its selling space is 587 sq. m. The outlet is leased by the Company.
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 |
| Investor Relations Office | [email protected] Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department [email protected] |
Company description:
Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2017, Magnit operated 35 distribution centers and 14,089 stores (10,540 convenience, 427 hypermarkets and 3,122 drogerie stores) in 2,494 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS results for 2016, Magnit had revenues of RUB 1,075 billion and an EBITDA of RUB 108 billion. Magnit's local shares are traded on the Moscow 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