3rd May 2011 07:00
Press-release
Krasnodar
April 29, 2011
OJSC "Magnit" announces the opening of two hypermarkets of a small format in Nizhny Novgorod
Krasnodar, April 29, 2011: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of two hypermarkets of a small format in Nizhny Novgorod.
Dear Ladies and Gentlemen!
We are glad to inform you that today the Company has opened two hypermarkets of a small format in Nizhny Novgorod. As of 29.04.2011 "Magnit" retail chain operates hypermarkets.
One of the hypermarkets is located at 29, Gagarina prospect. Its total space is about 3,000 sq. m. and its selling space is over 1,900 sq. m. Assortment consists of about 7,730 SKUs, out of which about 64% are food items. There are 14 cash desks installed in the sales area.
The second hypermarket is located at 33, Lenina prospect. The total space of the store is about 3,000 sq. m. and its selling space is over 2,100 sq. m. Assortment consists of about 7,520 SKUs, out of which about 70% are food items. There are 13 cash desks installed in the sales area.
These hypermarkets are open 7 days a week from 10 am to 10 pm.
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 March 31, 2011 the chain consisted of 4,128 convenience stores, 57 hypermarkets and 4 cosmetics stores (drogerie) in 1,239 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 March 31, 2011 the Company operated an in-house logistics system consisting of 11 distribution centers, employing automated stock replenishment systems and a fleet of 2,997 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