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Magnit opens two more dark stores in Moscow

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MAGNIT PJSC (MGNT)
01-Jun-2021 / 10:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

 

 

MAGNIT OPENS TWO MORE DARK STORES IN MOSCOW

Krasnodar, Russia (June 1, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, has opened two more mini dark stores in Moscow for processing online orders.

New dark stores are located in the east (Novogireevo district) and northwest (Koptevo district) and are used for express delivery within one hour. The outlets process orders made via Magnit's own delivery service as well as from the Company's partners - Delivery Club and Yandex.Eda.

The new stores operate in a "mini" format and have an area of 430 sq. m. Their assortment includes around 8,000 items and significantly differs from the ranges of Magnit Convenience brick-and-mortar stores and two other mini dark stores which have been previously opened in Moscow. Particularly, the categories of fresh products have been given special focus. In addition, the assortment will soon be supplemented with the categories of bakery and ready-to-eat culinary as well as with products from the higher price segments across all categories to meet the preferences of Magnit's online customers.

To ensure fast order picking, the design of the dark stores is minimalistic. A video surveillance system is used to monitor the quality of order picking. Access to the dark stores is granted only to Magnit's employees as well as agents of the partnering delivery services.

«

Florian Jansen

Magnit's Deputy CEO and Executive Director

»

 

 

"In February we launched the first two dark stores in Moscow to see what impact this format will have on the e-com operational efficiency and sales. This day we see that the average ticket and service level in the pilot dark stores is higher than the average across the channel. We are pleased with the first results, therefore we have opened two more mini dark stores and still plan to bring their total number in Moscow up to 20 by the year end".

 

In total, Magnit currently runs seven online delivery projects, both independently and in cooperation with partners. At the end of the first quarter of 2021, e-commerce services encompass over 1,300 of the Company's stores in 58 regions and 156 cities. Around 60% of revenue from online projects is generated outside Moscow and St. Petersburg. Magnit delivers up to 9,500 orders a day. The average ticket of the Company's own delivery service is up to RUB 1,400, which is almost 3,8 times higher than in the convenience stores (RUB 372 in 1Q 2021). During 2021, the Company plans to expand online delivery adding at least 1,500 convenience, drogerie and large-format stores in more than 50 regions across Russia.

 

 

 

For further information, please contact:

 

Dina Chistyak

Director for Investor Relations 
dina_chistyak@magnit.ru

Office: +7 (861) 210 9810 x 15101

 

Media Inquiries                    Twitter

press@magnit.ru                    @MagnitIR

 

 

 

 

Note to editors

 

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 March 31, 2021, Magnit operated 39 distribution centers and 21,900 stores (15,098 convenience, 471 supermarkets and 6,331 drogerie stores) in 3,770 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion and an EBITDA of RUB 178.2 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.:

108465

EQS News ID:

1202903


 

End of Announcement

EQS News Service

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