16 Sep 2016 12:32
PJSC MAGNIT - "Magnit Family" Stores OpeningPJSC MAGNIT - "Magnit Family" Stores Opening
PR Newswire
London, September 16
Press-release
Krasnodar
September 16, 2016
Magnit Announces the Opening of new “Magnit Family” Stores
Krasnodar, September 16, 2016: Magnit PJSC, one of Russia’s leading retailers (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of new “Magnit Family” stores.
The 177th “Magnit Family” store is located at Moskovskoye shosse street, Ulyanovsk, Volga federal region. Assortment of the store consists of more than 10 100 SKUs, out of which about 84% are food items. There are 11 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 178th “Magnit Family” store is located at 12 Mira street, building 2, Syktyvkar, Republic of Komi, North-Western federal region. Assortment of the store consists of more than 6 500 SKUs, out of which about 88% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 8 am to 10 pm.
The 179th “Magnit Family” store is located at 60 Druzhby Narodov street, Kogalym, Khanty-Mansiysk autonomous district, Urals federal region (“Galakitika” shopping center). Assortment of the store consists of about 7 600 SKUs, out of which about 88% 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 10 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:
Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2016, Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience, 398 hypermarkets and 2,588 drogerie stores) in 2,397 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 billion. Magnit's local shares are traded on the Moscow 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.