OJSC MAGNIT: 27th "Magnit Family" Store Opening
July 2, 2013
OJSC "Magnit" Announces the Opening of the 27th "Magnit Family" Store
Krasnodar, July 2, 2013: OJSC "Magnit", Russia's largest retailer (the "Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 27th "Magnit Family" store.
Please be informed that today the Company has opened its 27th "Magnit Family" store located at 17a Shvernika street, Sarov, Nizhny Novgorod region, Volga federal district. Assortment of the store consists of about 4,400 SKUs, out of which about 91% are food items. There are 10 cash desks installed in the sales area. The outlet was opened in the result of the reformatting of the convenience store and it is leased by the Company. The store is open 7 days a week from 9 am to 9 pm.
For further information, please contact:
Timothy Post Director, Investor Relations
Email: firstname.lastname@example.org Office: +7-861-277-4554 x7600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@gw.tander.ru Office: +7 -861-277-4554 x5101 Mobile: +7-961-511-0202 Direct Line: +7 -861-277-4562 Company description: Magnit is Russia's largest retailer. Founded in 1994 by Sergey Galitskiy, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,209 convenience, 153 hypermarkets, and 713 cosmetics) in more than1,600 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with its audited IFRS consolidated financial statements for year-end 2012, Magnit had revenues of $14.43 billion USD and an EBITDA of $1.52 billion USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: 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 now Europe's 2nd largest retailer. END -0- Jul/02/2013 06:19 GMT