Lenta IPJSC: Lenta Pilots New Hypermarket Format
February 07 2023 - 2:00AM
UK Regulatory
Lenta IPJSC (LNTA;LENT) Lenta IPJSC: Lenta Pilots New
Hypermarket Format 07-Feb-2023 / 08:00 CET/CEST Dissemination of a
Regulatory Announcement, transmitted by EquityStory RS. The issuer
is solely responsible for the content of this announcement.
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Lenta Pilots New Hypermarket Format
St. Petersburg, Russia, 7 February 2023: Lenta (MOEX: LENT, LSE:
LNTA), one of the largest multi-format retail chains in Russia, has
launched a pilot to test a new hypermarket model.
The Company plans to build an optimal product range and offer
customers a more attractive pricing model by optimizing operating
expenses.
Products will be displayed in transportation packaging, stores
will offer fewer additional services, the interval between price
tag changes will be altered, and staffing arrangements at stores
will be revised.
The pilot has been launched at the Lenta hypermarket on
Energetikov Avenue in St Petersburg. As part of the first stage,
prices, product range, and planograms have already been changed for
35 categories. From February to April, a number of improvements
will continue as the Company takes into account customer feedback
and sales density metrics.
Vladimir Sorokin, Lenta CEO, commented:
"We are testing a number of new features in stores that
underperform operationally, so that we can identify the best ways
to cut OPEX and increase our sales density. By launching this
pilot, we are responding to the needs of our customers as they
increasingly look for greater value for money and are trading down
to more affordable price segments." For further information, please
contact:
Lenta Lenta
Mariya Filippova
Tatyana Vlasova Head of Public Relations and Government Affairs
Head of Investor Relations and M&A maria.filippova@lenta.com
tatyana.vlasova@lenta.com
About Lenta
Lenta IPJSC (LSE: LNTA, MOEX: LENT) is a leading Russian
multi-format food and FMCG retailer. The company operates
hypermarkets, supermarkets, and a new proximity store format under
the brand Mini Lenta. It also provides customers the option to shop
online via its own Lenta Online services, Online Partners and the
Utkonos platform. Lenta is Russia's largest hypermarket operator
and the fourth largest food retailer overall by Sales. The company
was founded in 1993 in St. Petersburg and as of 31 December 2022,
operated 259 hypermarkets and 561 supermarkets and Lenta Mini
stores in over 200 cities and towns across Russia, with almost 1.79
million square meters of Selling Space. The average Lenta
hypermarket has approximately 5,500 square meters of Selling Space,
the average Lenta supermarket has 800 square meters, and the Mini
Lenta format is 500 meters on average. The company operates 14
distribution centers to supply all its stores. 2022 Revenues were
RUB 537 billion (approximately USD 7.6 billion).
Forward-Looking Statements
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements." These forward-looking
statements can be identified by the fact that they do not only
relate to historical or current events. Forward-looking statements
often use words such as "anticipate," "target," "expect,"
"estimate," "intend," "expected," "plan," "goal," "believe," or
other words of similar meaning. By their nature, forward-looking
statements involve risk and uncertainty because they relate to
future events and circumstances, a number of which are beyond
Lenta's control. As a result, actual future results may differ
materially from the plans, goals, and expectations set out in these
forward-looking statements. Any forward-looking statements made by
or on behalf of Lenta speak only as of the date of this
announcement. Except as required by any applicable laws or
regulations, Lenta undertakes no obligation publicly to release the
results of any revisions to any forward-looking statements in this
document that may occur due to any change in its expectations or to
reflect events or circumstances after the date of this
document..
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ISIN: US52634T2006, US52634T1016
Category Code: MSCL
TIDM: LNTA;LENT
LEI Code: 213800OMCE8QATH73N15
Sequence No.: 221135
News ID: 1553045
End of Announcement EquityStory RS News Service
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(END) Dow Jones Newswires
February 07, 2023 02:00 ET (07:00 GMT)
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