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1 Mar 2016 07:00
PJSC MAGNIT - New Hypermarkets OpeningPJSC MAGNIT - New Hypermarkets Opening
PR Newswire
London, March 1
Press-release
Krasnodar
March 1, 2016
PJSC “Magnit” Announces the Opening of the New Hypermarkets
Krasnodar, March 1, 2016: PJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the new hypermarkets.
Please be informed that today the Company has opened its 224th and 225th hypermarkets.
The 224th hypermarket of a small format is located at 1 Televizornaya street, bld.9, Krasnoyarsk, Siberian federal region. Assortment of the hypermarket consists of more than 11,900 SKUs, out of which about 84% 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 225th hypermarket of a small format is located at 37 Kavkazskaya street (“Panorama” shopping center), Cherkessk, Karachay-Cherkess Republic, North-Caucasian federal region. Assortment of the hypermarket consists of more than 12,300 SKUs, out of which about 78% are food items. There are 11 cash desks installed in the sales area. The outlet has been opened as the result of the reformatting of the “Magnit Family” store and is leased by the Company. The hypermarket 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 |
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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 December 31, 2015, Magnit operated 33 distribution centers and 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts 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.
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