MAGNIT PJSC (MGNT)
Magnit's Online Sales Share Exceeds One Percent of the Company's TOTAL Revenue
Krasnodar, Russia (October 29, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, announces that GMV of the Company's e-commerce services exceeded 1% of the retailer's total revenue during the last week of October. Magnit's total e-commerce GMV (incl. VAT) was RUB 2.9 billion in the third quarter, contributing more than half to the nine months e-commerce GMV of RUB 5.2 billion. Magnit fulfills now over 50 thousand orders daily. The average ticket across all online services was c. RUB 969 including VAT. This average ticket was approximately 2.7x higher than in the convenience stores (RUB 356 in 3Q 2021). This was mostly due to a larger number of items per basket. The average ticket within Magnit own delivery service was RUB 1,202. Magnit has been piloting e-commerce services since the third quarter of 2020. The Company currently runs a number of online delivery projects, including own delivery and partnerships (express delivery, regular delivery, e-pharma, cosmetics and partnerships). The highest sales and the most dynamic growth are shown by the express delivery segment where orders are fulfilled within one hour. Magnit's e-commerce services today cover over 2,700 offline stores and 15 dark stores in 64 regions and 267 cities, with 66% of the current revenue generated outside Moscow and St. Petersburg. Within the 3rd quarter the Company increased the number of cities covered by 2.5x. By the end of 2021, Magnit plans to have over 4,000 stores across all formats covered by e-commerce services including Magnit's own delivery and partnerships.
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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.: | 125513 |
EQS News ID: | 1244647 |
End of Announcement | EQS News Service |
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