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Magnit names 2021 bestsellers

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MAGNIT PJSC (MGNT)
22-Dec-2021 / 09:59 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

 

 

 

 

Magnit Names 2021 Bestsellers

 

Krasnodar, Russia (December 22, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, announced analytics about consumer demand over the past year and named the top items with the highest sales uplift.

 

Sports nutrition


Sales of sports nutrition products (bars, protein drinks, etc.) in Magnit stores grew by  almost 2.5x in value terms y-o-y, topping the list of goods that the Company considers the symbols of 2021. In total, Magnit stores sold over 5.8 million items of sports nutrition products, with protein bars selling especially fast. This is explained by the ongoing trend towards healthier eating and self-care, as well as, among other things, the Company's promotion activities, introduction of new brands into the assortment, and significant expansion of the sales geography, including the placement of the products in the checkout area. Magnit plans to continue developing the sports nutrition assortment next year by adding items like protein cakes, candies, waffles, dragée, and other products, including its own private labels.

 

Products for outdoor activities

 

Sales in this category grew by 81% compared to the last year on the back of an unusually hot summer - according to weather forecasters, the average June temperature in the European part of the country was the highest ever recorded. In Magnit, customers primarily bought framed swimming pools and related accessories, as well as double size inflatable mattresses.

 

Ready-to-eat

 

The drivers behind the increasing sales of ready-to-eat products remained the same: COVID-related restrictions on visits to restaurants and other foodservice locations, as well as the fear of catching the disease in crowded places. The dynamics were also influenced by the rapid development of express delivery coupled with the already common trend towards saving time, which is especially relevant for metropolitan residents. In Magnit's big boxes, sales of ready-to-eat assortment grew by 33%, with demand for second courses and salads increasing by 27% and 19% respectively.

 

 

 

Make-up and perfumes

 

Demand for cosmetics and perfumes began to recover in 2021, since many people returned to their offices (or switched to a hybrid work model), while shopping malls opened their doors once again after the restrictions were lifted. Sales of this category in Magnit stores grew by 19% in value terms compared to 2020, and this trend is expected to continue on the back of, among other things, the launch of the revamped Magnit Cosmetic format, store clusterization, as well as further development of assortment, primarily via unique products and private labels.

 

Pet food

 

Sales of this category of products in Magnit stores increased by 17%, growing ahead of the market, with wet cat and dog food remaining at the top. The growth is primarily due to the fact that during the lockdown period, Russians began keeping pets more often. According to leading pet food manufacturers, today, two out of three Russian families have pets, and the number of pets has been increasing steadily over the past few years, which in turn drives the demand for high-quality specialized pet food.

 

Online bestsellers

 

Magnit's e-commerce specialists note that, in 2021, instant noodles became one of the best-selling items, with the majority of purchases made via express delivery. Turkey meat was also in great demand online, with the Company recording five times more sales than in its brick-and-mortar stores. The trend towards healthier living is also reflected in the sales of fresh fruits and vegetables, which are growing almost 2.5 times faster than in most of the others.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For further information, please contact:

 

Dina Chistyak

Head of Investor Relations 
dina_chistyak@magnit.ru

Office: +7 (861) 210 9810 x 15101

 

Media Inquiries                    Twitter

press@magnit.ru                    @MagnitIR

 

 

 

 

Note to editors

 

"Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2021, Magnit operated 45 distribution centers and 25,315 stores in 3,840 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS 16 management accounts results for 9M 2021, Magnit had revenues of RUB 1,311.5 billion and an EBITDA of RUB 151.4 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+.

 

 

 

 

Forward-looking statements

 

This document contains or may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate and/or store openings are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.

 

 


ISIN:

US55953Q2021

Category Code:

MSCU

TIDM:

MGNT

LEI Code:

2534009KKPTVL99W2Y12

OAM Categories:

3.1. Additional regulated information required to be disclosed under the laws of a Member State

Sequence No.:

131737

EQS News ID:

1260909


 

End of Announcement

EQS News Service

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