OREANDA-NEWS. Lenta, (LSE, MOEX: LNTA) one of the largest retail chains in Russia, is pleased to announce the opening of its fourth hypermarket in Novokuznetsk.

The new store is a Lenta compact format hypermarket located in the "Polyana" shopping mall at 17/4 Kuibyshev Street, Novokuznetsk. The store has a total area of 9,160 sq.m, with 4,583 sq.m of selling space and is open 24 hours a day, seven days a week. A broad product assortment of 17,000 SKUs has been selected specifically for residents of Novokuznetsk and includes Lenta's private label and federal product ranges alongside local produce. The store has 220 parking spaces and 28 cash registers. The property is leased by Lenta.

Lenta's Chief Executive Officer, Jan Dunning said:

"The opening of four hypermarkets in Novokuznetsk over the past 12 months is a clear indication of the city's strategic importance for Lenta. Our stores will make an important contribution to the economic development of the city, and consumers in Novokuznetsk will benefit from a broad assortment of quality products at attractive prices. As Lenta looks to develop its long-term growth prospects in the region, we are committed to developing our business sustainably and as a responsible corporate citizen. Part of this commitment includes strengthening ties with local partners and providing additional impetus for local manufacturers by expanding their distribution market.

We remain very much on track to open 24 hypermarkets and 15 supermarkets in 2014, and we maintain our long-term target to double net selling space over the three years to December 2016."

This latest opening in Novokuznetsk is Lenta's 21st hypermarket opening in 2014 and brings the total number of Lenta stores to 98 hypermarkets in 56 cities across Russia and 21 supermarkets in the Moscow region.