TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsMatahari opens new store in Padang
Matahari Department Store has opened a new store in Padang, West Sumatra, as part of the companyâs aggressive expansion plan this year
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
M
atahari Department Store has opened a new store in Padang, West Sumatra, as part of the company's aggressive expansion plan this year.
Matahari, which is listed on the bourse under the code LPPF, opened on Sunday the new outlet with a total area of 7,300 square meters at Sentral Pasar Raya Plaza, bringing its total outlets to 131.
'The capital expenditure for each new Matahari store ranges between Rp 20 billion [US$1.6 million] and Rp 30 billion, with the funds coming from internal cash,' the company said in a statement published on the Indonesia Stock Exchange (IDX) on Monday.
The retailer has previously stated that it aimed to have 15 more new stores this year.
LPPF, which sells fashion, beauty and home products, booked Rp 1.06 trillion net profit in the first nine months of this year, a 27.7 percent increase from the same period last year.
LPPF CEO and vice president director Michael Remsen said previously that his firm would continue having a positive outlook for the rest of the year as it saw continually growing revenues driven by increased disposable income in its targeted consumer segment.
