LPPF gross sales reaches Rp 18 trillion in 2019
JAKARTA - PT Matahari Department Store Tbk (LPPF) recorded full year 2019 gross sales of Rp 18.0 trillion, a slight 0.9% increase from Rp 17.9 trillion in 2018. Net revenue was flat at Rp 10.3 trillion, as well as Same Store Sales Growth (SSSG). Net income was Rp 1.4 trillion, an increase of 25% over 2018 net income.
Terry O’Connor, CEO of the LPPF said, “I am delighted to join the Company and to have the privilege of working with the many talented individuals on our team who are committed to the long term success of Matahari. The Company has a robust customer base and market to cultivate and I am confident that, in spite of a challenging and competitive retail environment, we will continue to expand our presence, reach and relevance. Our active loyalty customer base, now numbers 7.9 million, and has grown more than 10% from the same period last year. Enhanced insights in our loyalty base will guide us and help us consistently deliver outstanding value and engagement.
As per end of 2019, Matahari operates 169 stores in 76 cities across Indonesia, having opened 3 new large format stores in 2019 in Bandung (West Java), Batam (Riau Islands) and Dumai (Riau), plus 8 specialty stores in Medan (North Sumatera), Jakarta, Cibubur (West Java) and Surabaya (East Java). For information, Matahari plans to open 6 new stores in 2020. (LM)