27 Jun 2016 09:10
PJSC MAGNIT - New Hypermarket and "Magnit Family" Store OpeningPJSC MAGNIT - New Hypermarket and "Magnit Family" Store Opening
PR Newswire
London, June 27
Press-release
Krasnodar
June 27, 2016
PJSC “Magnit” Announces the Opening of a New Hypermarket and a “Magnit Family” Store
Krasnodar, June 27, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of a new hypermarket and a “Magnit Family” store.
The 228th hypermarket (small format) is located at 48 Tarkhova street (“Liga Natsiy” shopping center), Saratov, Volga federal region. Assortment of the hypermarket consists of about 12,700 SKUs, out of which about 75% are food items. There are 17 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.
The 167th “Magnit Family” store is located at 91 Suvorova street, Rostov-on-Don, Southern federal region. Assortment of the store consists of about 10,400 SKUs, out of which about 84% 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 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.