JAKARTA - PT Hero Supermarket Tbk (HERO) finally fulfilled the request of the Indonesia Stock Exchange (IDX) to provide a comprehensive explanation regarding the plan to close its 6 Giant outlets on 28 July 2019.
The explanation was given by the Corporate Secretary of Hero, Iwan Nurdiansyah, through a letter numbered 040 / Corsec / VI / 2019, and was announced by the IDX at 11.01 a.m. on Thursday (27/6)
Iwan explained that the company is carrying out a business transformation that affected several stores owned by the company. "This has been communicated to the employees of the stores in question. This is not an easy thing to do, but it needs to be done to respond to the rapid changes in consumer behavior, "explained.
Iwan explained further that the competition in the food business in Indonesia has become tighter in recent years, since customers have changed their shopping behavior.
Therefore, he explained that the company must adapt to compete effectively by implementing a continuous transformation program to achieve long-term performance improvements.
In addition, the company must improve and update its offers to customers to ensure the quality, value, and productivity of its stores for the benefit of customers and the future of the company's employees.
The company is also making improvements and updates on several other Giant stores in order to produce a strong, sustainable business in the future.
"The company understands that this change will have an impact on some employees, and it is not easy to do this. The company will work as well as possible to facilitate this transition process and treat all employees fairly and with respect. "
Iwan also explained that the company also continues to develop its other business, including Guardian and IKEA. (ARM/AR)