Matahari Allocates Rp400 Billion to Open Eight New Outlets this Year

By : Abraham Sihombing And Aldo Bella Putra | Friday, January 26 2018 - 23:00 IWST

Matahari Departement Store (Ist)
Matahari Departement Store (Ist) - Jakarta - The management of PT Matahari Department Store Tbk (LPPF) will allocate Rp400 billion to finance the opening of six to eight new outlets by 2018. The fund comes from the company's internal cash.

"The amount of fund needed is around Rp400 billion because the investment needed to finance the opening of one outlet is around Rp40-50 billion," said Miranti Hadisusilo, Corporate Secretary of LPPF in Jakarta, Friday (26/01/2018).

Miranti explained the fund to finance the opening of new outlets is cultivated from the company's internal cash. Although the company must borrow from a third party, the loan is expected to be a short-term loan.

Miranti pointed out, LPPF management is currently looking for various prospective malls to be used as a place of new outlets. Until now, LPPF management continues to establish communication with various shopping centers in various cities in Indonesia.

"So, until now, we do not know exactly about the location of our new outlets that will be opened. Can be in Java, can also outside Java. But surely, which will be opened in the near future is located in Sumatra," she explained.

Miranti said that the outlets opened in Sumatra are expected to be operated by the end of the first quarter or the beginning of the second quarter. To be sure, LPPF management is currently waiting for the readiness of the pihal mall. If the mall party is ready, LPPF can enter.

In 2017, the company opened eight new outlets, including Nevada outlets in Surabaya, East Java. Up to now, the company has 156 outlets throughout Indonesia.

"The sales trend outside Java is still good. Therefore, the opening of this year's outlets will still increase. Our pipeline can be more than that, but the confirmed depends on the ability of the mall," said Miranti.

Miranti said this year's retail business outlook is expected to be better. The company's sales this year are estimated to be 6-10%. Factors will drive performance. LPPF is more peak season momentum. Last year, the retailer's momentum was less profitable. Because peak when Lebaran and school holidays are in the adjacent time, so the sale is less than the maximum.

Meanwhile, in 2018, Miranti said, there may be two peak season times that have a time lag. This time lag can be a trigger to increase LPPF sales.

"Our peak season is fitting Idul Fitri, Christmas, school holidays, and Imlek. Meanwhile, Lebaran holiday is expected to take place in the second quarter of this year," concluded Miranti. (Abraham Sihombing)

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