JAKARTADAILY.ID – PT Matahari Department Store Tbk, listed on the Indonesian Stok Exchange with the LPPF stock ticker, is expanding its business by planning to open a further five 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).
"We are excited to open six new stores in the various cities soon. The expansion shows our strong financial condition and commitment to give the Feel Good experience to our loyal customers by getting closer to our communities,” said Terry O’Connor, CEO of Matahari reported from LPPF's information disclosure on the Indonesia Stock Exchange, Friday, July 15, 2022.
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“We are optimistic with the long-term economic prospects in Indonesia, and the new stores opening will create hundreds of job opportunities directly and in our surrounding areas as well as contribute to local economies’ growth,” continued Terry.
These stores are the fourth to eight stores to be opened this year, after opening two new stores in Taman Anggrek Mall Jakarta and Plaza Ambarrukmo Yogyakarta, and a new store in Tang City Banten set to open in August.
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The new store in Gowa will be 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 both in major cities as well as in developing cities.
A further two openings are slated for this year, subject to prevailing conditions, making a total number of stores to be trading nationwide as 148 by the end of 2022. Matahari intends to open 12 to 15 stores from 2023 onwards.
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