MATAHARI DEPARTMENT STORE REPORTS GROSS SALES OF RP 3,368 BILLION
Highlights Q1 2018:
Total gross sales of Rp 3,368 billion, grew 4.8% over Q1 2017
Same store sales growth (SSSG) of 4.8%
Net income of Rp 247 billion, 1.0% above Q1 2017
PT Matahari Department Store Tbk (“Matahari” or “the Company”; stock code: “LPPF”) reported Q1 2018 gross sales of Rp 3,368 billion, increasing 4.8% from Rp 3,214 billion in Q1 2017, whilst net revenue increased by 5.9% to Rp 1,962 bilion and net income was Rp 247 billion, 1.0% above Q1 2017. Same store sales growth (SSSG) of 4.8% was driven predominantly by an increase in customer traffic, demonstrating the success of the Company’s strategy of offering great fashion at exceptional value to its customers.
Matahari currently operates 153 stores in 73 cities across Indonesia, and also offers its merchandise on-line at MatahariStore.com. The Company anticipates opening 4 to 6 stores in 2018, with 2 of those stores to open prior to Lebaran.
Richard Gibson, CEO and Vice President Director of the Company said, “Our first quarter results show the importance of continuing to focus on both fashion and value for our customers. We believe that our improved merchandise offerings, combined with the growing tailwinds we have in our customer segment, will continue to drive our business as we move throughout the year.”