9th Aug 2011 11:00
Press-release
Krasnodar
August 9, 2011
OJSC "Magnit" announces the opening of the 50th cosmetics store
Krasnodar, August 9, 2011: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 50th "Magnit Kosmetik" store.
Dear Ladies and Gentlemen!
We are glad to inform you that today the Company opened its 50th "Magnit Kosmetik" store located at 73b, Kommunalnaya street, Pskov. This is the first cosmetics store of the Company in this city. The selling space of the leased store is about 180 sq. m. The store is open 7 days a week from 10:00 am to 9:30 pm. At the end of 2011 the number of cosmetics stores of the Company will reach 200.
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 June 30, 2011 the chain consisted of 4,366 convenience stores, 66 hypermarkets and 28 cosmetics stores (drogerie) in 1,286 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 June 30, 2011 the Company operated an in-house logistics system consisting of 12 distribution centers, employing automated stock replenishment systems and a fleet of 3,454 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2010, the Company recorded consolidated revenue of approximately US$7,777 million and consolidated EBITDA of around US$632 million.
Related Shares:
MGNT.L