PT Matahari Department Store Tbk : Matahari Reports Gross Sales of IDR 2.7 Trillion
April 18, 2023 at 06:38 am EDT
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Matahari Reports Gross Sales of IDR 2.7 Trillion
News
18 April 2023
Corporate Communications
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Highlights :
Sales in Q1 2023 were IDR 2.7 Trillion, growing by 14.2%. SSSG was 10.4%
Gross Margin of the Q1 2023 was 35.4% vs 35.5% in Q1 2022, mainly due to mix shift
EBITDA for Q1 2023 was IDR 234 Billion, reflecting normalizing retail rent and minimum wage growth
The opening of 7 new stores before Lebaran has been completed with significant investment within the quarter
Active Loyalty base growing 7.6 Million, contributing to 81.7% of total sales, giving a broader opportunity across 2023 for well-segmented communication
Strengthening customer proposition online with strong marketplace growth and range expansion on Matahari.com, delivering strong digital revenue growth
Seasonal merchandising drive is now underway with well-prepared ranges, investment in staffing from both Matahari and its vendors and a full marketing program across March and April 2023.
Matahari ("the Company"; stock code: "LPPF") posted Gross Sales of IDR 2.7 Trillion, reflecting a 14.2% year-on-year growth in the first quarter of 2023. EBITDA was IDR 234 Billion, reflecting normalizing rental costs and minimum wage impact.
Year to date, the Company managed to open 7 new stores before Lebaran in Bekasi, Cikarang, two stores in Semarang, Sleman, Balikpapan, and Bali. Matahari is on track to open 12-15 new stores in 2023. These new stores will also assist the results for Lebaran 2023 in an enlarged store portfolio comprised of 155 stores as of today.
On 29 March 2023, the Annual General Meeting of Shareholders ("AGMS"; "Meeting") passed all the resolutions, which are intended to maximize the shareholders' value. Among others, the Meeting approved the distribution of dividends of IDR 525 per share from 2022 Net Profit. In addition, the AGMS approved the continuation of the share buyback program until 28 September 2024.
Terry O'Connor, Vice President Director and CEO of Matahari, said, "Matahari is committed to enhancing returns to shareholders. We are delighted to start the year with 7 new stores, which effectively support our engagement with shoppers in the key Lebaran season. At the same time, we are happy with our progress in our omni-channel initiatives and to see a growing loyalty base giving a broader opportunity for well-segmented communication. With such progress, we believe our long-term outlook is positive."
PT Matahari Department Store Tbk published this content on 18 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 April 2023 10:37:11 UTC.
PT Matahari Department Store Tbk is an Indonesia-based company, which is engaged in the retail business for several types of products such as clothes, accessories, bags, shoes, cosmetics, and household appliances, and management consulting service. The Companyâs segments include Sumatra; Java; Kalimantan, Sulawesi and Maluku, and Others. It operates approximately 156 stores. The Companyâs brands include Nevada, Details, Little M, connection, Cole and Pipiniko. It offer clothes, such as chaos and polo shirt, blouse shirt, sweater and cardigan, dress, outerwear, long pants, jeans, shorts, underwear and sleepwear, maternity clothes, sports clothing, playsuits and jumpsuits. It offers shoes, such as slippers, sneakers, sport shoes, slip Ons, formal shoes, and boots. It offers products under suitcase, such as backpack, shoulder bags, handbags, suitcases and travel bags, wallet, and sports bag.
PT MATAHARI DEPARTMENT STORE TBK 
