Magnit OJSC Company Profile

Magnit OJSC
Levaneskovo Str. 185
Krasnodar 350 072
Russia
Tel: 861 210-98-10
URL: http://www.magnit-info.ru
Primary Symbol & Exchange:
MGNT - Common Stock - RTS Stock Exchange
Other Symbol & Exchange:
MGNT - GDR - London
Industry:
Supermarkets
+  SIC Industry Code:
+  NAICS Industry Code:
Thomson Financial Business Description:
The Group's principal activity is retail and distribution of consume goods. It operates in the retail and wholesale sector. The volume of the wholesale activities has decreased and the Group intends to cease its wholesale operations in the near term. The principal retail business operations are carried out through CJSC Tander. Open Joint Stock Company "Magnit" is a holding company for a group of entities that operate in the retail trade under the name "Magnit". The chain of "Magnit" stores is one of the leading operators in the Russian food retail market. As of December 31, 2008 the chain consisted of 2,568 convenience stores and 14 hypermarkets in 856 locations in the Russian Federation. Approximately two-thirds of the Group's stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
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