Lenta opens new supermarket in Moscow

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AK&M 17 September 2020 12:31

Lenta has opened a new supermarket on Leskov street in Moscow. The store was opened as part of the company's long-term partnership with ADG Group, the retailer informed.

The total area of the supermarket is 1,710 square meters, including 1,050 sqm in shopping floorspace.

The new store is the eighth supermarket which Lenta opened in 2020. The stores in Saint Petersburg has increased the company's chain to 248 hypermarkets in 88 Russian cities and 139 supermarkets in Moscow, St. Petersburg, Siberia, the Urals and Central Russia.

Lenta based in St. Petersburg in 1993 manages 236 hypermarkets in 85 cities of Russia and 128 supermarkets in Moscow, St. Petersburg, Siberia, Ural and Central macroregions with a total sales area of more than 1.423 million sqm. The company operates seven own distribution centers. Lenta is listed on the London Stock Exchange and Moscow Exchange under the LNTA ticker. Lenta's largest shareholders are TPG Capital and the European Bank for Reconstruction and Development.

In Q1 2020, Lenta increased revenue by 7% to RUB 106 billion from RUB 99 billion a year earlier. In particular, revenue from retail sales increased by 7.5% to RUB 104.4 billion from RUB 97.1 billion. Wholesale revenue decreased by 16.7%.