PT Matahari Department Store Tbk ("Matahari" or "Company"; stock code: "LPPF")
expands its business by planning to open five new outlets from September to November this year. The outlets will be located in Gowa (South Sulawesi), Bondowoso (East Java), Semarang (Central Java), Kendari (Southeast Sulawesi) and Bontang (East Kalimantan). These outlets are the fourth to eight outlets opened this year, after opening two new outlets in Taman Anggrek Mall Jakarta and Plaza Ambarrukmo Yogyakarta, as well as one new outlet in Tang City Banten which will open in August.
The new stores in Gowa will open in September, Bondowoso and Semarang in October, and Kendari and Bontang in November. The openings are in line with Matahari’s plan to accelerate expansion in both major cities and emerging new cities. Two further openings are also scheduled for this year, subject to prevailing conditions, bringing the total number of stores operating nationwide to 148 by the end of 2022. Matahari intends to open 12-15 stores in 2023 and beyond.
“We are very excited to open six new stores in several cities soon. This expansion demonstrates our strong financial condition and our commitment to provide a Feel Good experience to our loyal customers by getting closer to our communities. We are optimistic about the long-term economic prospects in Indonesia, and the opening of these new stores will create hundreds of jobs directly and also in our surrounding areas and contribute to local economic growth,” said Terry O'Connor, CEO of Matahari.
