OJSC MAGNIT: 31st "Magnit Family" Store Opening
October 1, 2013
OJSC "Magnit" Announces the Opening of the 31st "Magnit Family" Store
Krasnodar, October 1, 2013: OJSC "Magnit", Russia's largest retailer (the "Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the 31st "Magnit Family" store.
Please be informed that today the Company has opened its 31st "Magnit Family" store located at 29 Magistralnaya street, Astrakhan, Southern federal district. Assortment of the store consists of about 5,300 SKUs, out of which about 80% are food items. There are 12 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 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 June 30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552 convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the reviewed IFRS consolidated financial statements for 1H 2013, Magnit had revenues of $8,796 million USD and an EBITDA of $890 million 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- Oct/01/2013 06:11 GMT