Matahari will open five more new stores in September and November, bringing the total number of openings to eight this year
July 14, 2022
PT Matahari Department Store Tbk (“Matahari” or “Company”; stock code: “LPPF”) is
expand its business with plans to open five additional new stores from September to November this year. They will be located in Gowa (South Sulawesi), Bondowoso (East Java), Semarang (Central Java), Kendari (South East Sulawesi) and Bontang (East
Kalimantan). These stores are the fourth of eight stores to open this year, after
opening of two new stores at Taman Anggrek Mall Jakarta and Plaza Ambarrukmo
Yogyakarta, and a new store in Tang City Banten is scheduled to open in August.
The new Gowa store will open in September, Bondowoso and Semarang in October, and Kendari and Bontang in November. The openings are part of Matahari’s plan to accelerate expansion in both major cities and new emerging cities. Two more openings are planned for this year, subject to prevailing conditions, bringing the total number of stores to 148 nationwide by the end of 2022. Matahari intends to open 12 to 15 stores from 2023.
“We are excited to soon be opening six new stores across the various cities. The expansion shows
our strong financial position and our commitment to deliver the Feel Good experience to our loyal customers by bringing us closer to our communities. We are optimistic about the long-term economic prospects in Indonesia, and the opening of new stores will create hundreds of job opportunities directly and in our surrounding areas and help grow local economies,” said Terry O’ Connor, CEO of Matahari.
PT Matahari Tbk department store published this content on July 14, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Jul 14, 2022 6:03:05 PM UTC.
Public now 2022
Technical Analysis Trends PT MATAHARI DEPARTMENT STORE TBK
|Short term||Middle term||Long term|
Evolution of the income statement
|Number of analysts||12|
|Last closing price||IDR4,610.00|
|Average target price||IDR5,798.18|
|Average Spread / Target||25.8%|