Magnit Opens Ten Discounters in March

DJ Magnit Opens Ten Discounters in March

MAGNIT PJSC (MGNT) 
Magnit Opens Ten Discounters in March 
05-Apr-2021 / 10:00 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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Press-release | Krasnodar | April 5, 2021. 
 
Magnit Opens Ten Discounters in March 
 
Krasnodar, Russia (April 5, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading 
retailers, opened ten My Price discounters in March. As a result, their total number increased to 33 stores as of the 
beginning of April. 
In early March, the Company opened discounters in Omsk and Yaroslavskaya village (Krasnodar Region). Eight more stores 
were opened in the last two weeks of March in the villages of Tyubuk (Chelyabinsk Region) and Yamkino (Moscow Region), 
as well as in Lipetsk, Kaluga, Schuchye (Kurgan Region), Suvorov (Tula Region), Bolkhov (Oryol Region), and Korenevo 
urban-type settlement (Kursk Region). 
The total area of stores is 150-350 sq. meters. The assortment includes about 1,700 fixed items. The focus is on the 
products of the first price segment and private labels (more than 15% of the total assortment), a significant number of 
which is produced at the Company's own facilities. This allows Magnit to control the cost and quality of goods on the 
shelf. The assortment also includes fast moving consumer goods in value packs: vegetables, fruits, dry foods, dairy 
products, meat gastronomy, poultry, preserved foods, confectionery, baby food, drinks, pet food, household chemicals, 
etc. The discounters follow simple zoning principles and have only a basic equipment setup. This, however, does not 
affect the level of customer service, which remains high and meets all the requirements to a modern store. 
The first three stores of the new pilot format appeared in July 2020. The format of My Price stores is closer to the 
classic European discounter, which offers a high-quality assortment at low prices. The format is aimed at the customer 
who is not ready to sacrifice quality but strives for reasonable savings. The discounters opened at the premises 
previously occupied by Magnit Convenience stores show an average 20% increase in LFL sales, mainly driven by growth in 
LFL traffic. 
The Company plans to open about 15 more My Price stores in April and several dozen new stores by the end of 2021. 
 
 
For further information, please contact: 
 
 
Dmitry Kovalenko 
Director for Investor Relations 
Email: [e-mail] 
Office: [phone] 
 
 
Dina Chistyak 
Director for Investor Relations 
Email: [e-mail] 
Office: [phone] x 15101 
 
 
Media Inquiries   Twitter 
Email: [e-mail]  @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 December 31, 2020, Magnit operated 38 distribution centres and 21,564 
stores (14,911 convenience, 470 supermarkets and 6,183 drogerie stores) in 3,752 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. 
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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.:  96862 
EQS News ID:  1180780 
 
End of Announcement EQS News Service 
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April 05, 2021 03:00 ET (07:00 GMT)