Magnit opens hybrid dark store

Krasnodar, Russia (February 16, 2022): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, opened a hybrid dark store operating in two formats - as a warehouse for picking online orders and as a brick-and-mortar store for customers.

Metadata

Provider:

EQS

Retrieved on:

Thursday, February 17, 2022

Information

Tags:

Standard, LSE, Company, Forward-looking statement, RUB, City, EBITDA, Yandex.Eda, MOEX, London, IFRS 16, London Stock Exchange, Online shopping, Butovo, Magnit

Geotags:

RUSSLAND, KRASNODAR, RUSSIA, MOSCOW

Stock Symbol:

ISIN:US55953Q2021

LSE:MGNT

Summary

Key Points:

Krasnodar, Russia (February 16, 2022): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, opened a hybrid dark store operating in two formats - as a warehouse for picking online orders and as a brick-and-mortar store for customers.
The dark store has a separate entrance for delivery agents, which enables them to pick up orders directly from the picking area without inconveniencing customers.
Customers can choose from a wider assortment compared to a traditional Magnit Convenience store - around 8,000 articles.
The hybrid dark store is located in southwestern Moscow (in the Butovo district) and serves the express delivery mission (delivery within one hour).

MAGNIT PJSC (MGNT)

Magnit opens hybrid dark store

16-Feb-2022 / 10:30 MSK

Dissemination of a Regulatory Announcement, transmitted by EQS Group.

The issuer is solely responsible for the content of this announcement.

Magnit opens hybrid dark store

Krasnodar, Russia (February 16, 2022): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, opened a hybrid dark store operating in two formats - as a warehouse for picking online orders and as a brick-and-mortar store for customers. The pilot dark store is located in Moscow.

The hybrid facility has a total area of more than 600 sq. m. For the convenience of visitors, the store separates its customer journey from the delivery side of business - there are dedicated areas for online order packaging and pickup as well a selling space for offline shopping. The dark store has a separate entrance for delivery agents, which enables them to pick up orders directly from the picking area without inconveniencing customers.

Customers can choose from a wider assortment compared to a traditional Magnit Convenience store - around 8,000 articles. There is also a range of around 700 unique items with a focus on fresh products, ready-to-eat items, as well as more premium goods across all categories. In the nearest future, fresh pastries will also be added.

The hybrid dark store is located in southwestern Moscow (in the Butovo district) and serves the express delivery mission (delivery within one hour). The facility processes orders made via Magnit's own delivery service as well as via the Company's partners - Delivery Club, Yandex.Eda and Sbermarket.

Ksenia Pushkarskaya

Director for E-Commerce Operations at Magnit

"We continue testing various operational models in e-grocery and seeking out synergies with our offline business. We see the hybrid dark store as a rather interesting format, which on the one hand allows creating a more attractive offering for Magnit's traditional customers while on the other hand enabling us to potentially increase the effectiveness of our online channel. We intend to look at how the pilot will perform and do not rule out further scaling."

As of today, Magnit's e-commerce services incorporate over 4,490 brick-and-mortar stores and 20 dark stores in 64 regions and 301 localities, with 69% of the current revenue generated outside Moscow and Saint Petersburg. The largest and the fastest growing segment is express delivery, where orders are delivered within 60 minutes.

For further information, please contact:

Media Inquiries Twitter

[email protected] @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 December 31, 2021, Magnit operated 45 distribution centers and 26,077 stores in 3,898 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS 16 management accounts results for FY 2021, Magnit had revenues of RUB 1,856 billion and an EBITDA of RUB 214 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.:	143215
EQS News ID:	1280991


End of Announcement	EQS News Service