OREANDA-NEWS. OJSC Magnit, Russia's largest retailer (the Company; MICEX and LSE: MGNT) announces 25.22% retail sales growth in rubles for January 2014.

During January 2014 the Company opened (net) 36 stores. The total store base reached 8,129 stores (7,234 convenience stores, 161 hypermarkets, 46 Magnit Family stores and 688 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in January 2014 increased by 25.22% in ruble terms (compared to January 2013) and stood at 51,665.46 million rubles.

Sergey Galitskiy, the Company's CEO, provided the following comment on the published results:

Despite significantly lower food inflation in January 2014 (1.0% according to Rosstat) compared to January 2013 (1.8% according to Rosstat), sales growth in the first month of this year conforms to our guidance.

January 2014 Key Operating and Financial Highlights:

January 2014

January 2013

Growth Rate

Number of opened stores, NET

36

37

n/a

convenience stores

34

34

n/a

hypermarkets

0

0

n/a

magnit family

0

1

n/a

cosmetics stores

2

2

n/a


Total number of stores

8,129

6,921

n/a

convenience stores

7,234

6,080

n/a

hypermarkets

161

126

n/a

magnit family

46

21

n/a

cosmetics stores

688

694

n/a


Selling space growth, thousand sq.m.

8.17

13.56

n/a

convenience stores

7.55

10.54

n/a

hypermarkets

0

0

n/a

magnit family

0

1.45

n/a

cosmetics stores

0.63

1.57

n/a


Selling space, eop, thousand sq. m.

3,019.55

2,562.81

17.82%

convenience stores

2,319.74

1,988.00

16.69%

hypermarkets

482.88

387.62

24.58%

magnit family

53.26

25.81

106.39%

cosmetics stores

163.67

161.39

1.41%


Net retail sales, million RUR

51,665.46

41,260.60

25.22%

convenience stores

40,083.96

33,189.02

20.77%

hypermarkets

9,075.66

6,816.40

33.14%

magnit family

1,342.40

574.64

133.61%

cosmetics stores

1,163.45

680.55

70.96%


Net retail sales, million USD

1,543.88

1,363.63

13.22%

convenience stores

1,197.80

1,096.87

9.20%

hypermarkets

271.20

225.28

20.39%

magnit family

40.11

18.99

111.22%

cosmetics stores

34.77

22.49

54.58%