Matahari (the "Company"; stock code: "LPPF") would like to respond to recent rumors circulating regarding the closure of our stores. We believe in transparency and would like to clarify our position to ensure accurate and responsible news reporting.
As previously announced, Matahari is undertaking a strategic optimization of its store portfolio. This involves the closure of several underperforming stores and the opening of new stores in high traffic areas, as part of our commitment to provide the best retail experience for our customers. This decision was made after a thorough evaluation process, in line with our long-term business strategy and standard operating practices.
We have noticed that some parties may be conveying inaccurate information regarding our store optimization strategy. We urge all media to check the facts carefully and report responsibly, in order to avoid spreading information that may cause misunderstanding among the public and our stakeholders.
Matahari continues to focus on rebranding and modernising its key stores, following the opening of 9 stores last year with several new store openings planned for 2024, including the addition of our latest store at AEON Deltamas in March 2024. We will continue to prioritise selecting high-quality sites from our pipeline to ensure the best retail experience for our customers.
We value the role of the media in informing the public and urge journalistic integrity to be upheld in reporting about our company. For accurate information, we invite media representatives to contact our public relations department.
Thank you for your attention.
