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BRIEF-Russia's Lenta plans to double selling space by end-2020
February 16, 2017 / 2:14 PM / 7 months ago

BRIEF-Russia's Lenta plans to double selling space by end-2020

Feb 16 (Reuters) - Lenta Ltd says:

* Plans to open about 30 new hypermarkets in 2017;

* To open about 50 new supermarkets and add new regions, starting with Novosibirsk;

* To add about 200,000 sq.m. of total new selling space in 2017;

* Sees 2017 capital expenditures of around 40 billion roubles ($698.32 million);

* Aims to double total selling space by the end of 2020 and develop alternative models to add to growth;

* In the hypermarket segment, plans to open organically 150,000-200,000 sq.m. per year, with long-term potential for about 400 additional hypermarkets in target cities;

* In the supermarket segment, plans to significantly increase number of store openings to deliver around 8x increase in selling space by 2020 (15-20 pct of total selling space);

* Will continue focusing on profitable growth, carefully balancing capex and returns (target IRR of 20 pct) with the aim to continue to deliver market-leading returns. Source text for Eikon: Further company coverage: ($1 = 57.2800 roubles) (Reporting by Moscow Newsroom)

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