31 May 2016 08:01
PJSC MAGNIT - "Magnit Family" Stores OpeningPJSC MAGNIT - "Magnit Family" Stores Opening
PR Newswire
London, May 31
Press-release
Krasnodar
May 31, 2016
PJSC “Magnit” Announces the Opening of New “Magnit Family” Stores
Krasnodar, May 31, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of new “Magnit Family” stores.
The 164th “Magnit Family” store is located at 93 Nagovitsyna street, Mozhga, Udmurt Republic, Volga federal region. Assortment of the store consists of about 9,200 SKUs, out of which about 86% are food items. There are 13 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 9 am to 10 pm.
The 165th “Magnit Family” store is located at 21 Svobody prospekt, Sasovo, Ryazan oblast, Central federal region. Assortment of the store consists of about 6,500 SKUs, out of which about 91% are food items. There are 11 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 11 pm.
The 166th “Magnit Family” store is located at 7 Bunimovicha street, Pyatigorsk, Stavropol krai, North Caucasian federal region. Assortment of the store consists of more than 10,200 SKUs, out of which about 85% are food items. There are 12 cash desks installed in the sales area. The outlet is leased by the Company. The outlet is open 7 days a week from 9 am to 10 pm.
For further information, please contact:
Timothy Post | Head of Investor RelationsEmail: post@magnit.ruOffice: +7-861-277-4554 x 17600Mobile: +7-961-511-7678Direct Line: +7-861-277-4562 |
Investor Relations Office | MagnitIR@magnit.ruDirect Line: +7-861-277-4562Website: ir.magnit.com/ |
Media Inquiries | Media Relations Departmentpress@magnit.ru |
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, 2016, Magnit operated 34 distribution centers and about 12,434 stores (9,715 convenience, 382 hypermarkets, and 2,337 drogerie stores) in 2,385 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS results for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 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.