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Ramayana sales decrease in 2017
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A Ramayana store (kontan.co.id/Baihaki)
P
ublicly listed retailer PT Ramayana Lestari Sentosa recorded a sales decrease last year due to the loss of its supermarket division, said its corporate secretary, Setyadi Surya, in Jakarta on Wednesday
Last year, Ramayana posted Rp 8.1 trillion (US$567 million) in sales, down by 1.1 percent compared to sales the previous year, while its net profit last year also fell to Rp 406.6 billion from Rp 408.5 billion in 2016.
“The decrease in sales was caused by the closure of unprofitable stores last year,” Setyadi said, adding that the company had closed down 16 of its supermarkets at Ramayana stores last year.
He believed that the move would help the company make a profit again.
Setyadi said its supermarket business was put under pressure by the opening of minimarkets that were mushrooming in residential areas, the growing popularity of online shops and the increasing government support for small and medium enterprises.
Ramayana has three business segments, which are made up of sell outright, consignment sales and supermarket sales.
The company targets sell outright to grow by 4 percent this year, 8 percent for consignment sales and minus 15 percent for sales in supermarkets. (bbn)
