8 Sep 2015 08:22
PJSC MAGNIT - "Magnit Family" Stores OpeningPJSC MAGNIT - "Magnit Family" Stores Opening
PR Newswire
London, September 8
Press-release
Krasnodar
September 8, 2015
PJSC “Magnit” Announces the Opening of the New “Magnit Family” Stores
Krasnodar, September 8, 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 opened its 123rd and 124th “Magnit Family” stores.
The 123rd “Magnit Family” store is located at Moroshkovaya street, Monchegorsk, Murmansk oblast, North-Western federal region. Assortment of the store consists of about 8,000 SKUs, out of which about 90% 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 11 pm.
The 124th “Magnit Family” store is located at 20 Kosmonavtov prospekt, Budennovsk, Stavropol krai, North-Caucasian federal region. Assortment of the store consists of about 8,800 SKUs, out of which about 85% 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.
For further information, please contact:
Timothy Post | Director, Investor Relations Email: post@magnit.ru 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: Chistyak@magnit.ru Office: +7-861-277-4554 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 | |
Media Inquiries | PR and GR Department press@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 June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2015. Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 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.