Ramayana plans to open eight new stores this year<\/p>\n
JAKARTA (JP): The owner and operator of Ramayana department
\nstores, PT Ramayana Lestari Sentosa, plans to open eight new
\nretail outlets this year as part of its expansion program.<\/p>\n
Company public relations director Setyadi Surya said yesterday
\nthe publicly listed retail chain would invest around Rp 80
\nbillion (US$32.78 million) in the new outlets.<\/p>\n
\"The new stores will be in addition to the 55 retail stores we
\noperate now in Java, Bali and Batam,\" Setyadi said after the
\ncompany's annual shareholders meeting.<\/p>\n
Six of the new stores will be in Jakarta, and the remaining
\ntwo in Sukabumi, West Java, and Bali.<\/p>\n
He said the company also planned to expand two of its existing
\nstores.<\/p>\n
The new stores are expected to increase the company's sales to
\nRp 1.12 trillion this year from Rp 856.6 billion last year, and
\nits net profit to Rp 105 billion from Rp 82.4 billion.<\/p>\n
\" Ramayana's net sales already reached Rp 347.6 billion in the
\nfirst quarter of this year, compared to Rp 280.4 billion in the
\nsame period of last year, Setyadi said.<\/p>\n
It booked a net profit of Rp 39.9 billion in the Jan-March
\nperiod, compared to Rp 25 billion in the same period last year,
\nhe said.<\/p>\n
Last year the company's net sales rose by 37.3 percent to Rp
\n856.6 billion from Rp 630.6 billion in 1995. Its net profit rose
\nby 90.8 percent to Rp 82.4 billion last year from Rp 43.2
\nbillion.<\/p>\n
The net earnings per share was Rp 270 last year, up from Rp
\n201 in 1995.<\/p>\n
Setyadi said 12.3 percent of the increase in sales came from
\nthe sales of the company's existing stores, and the remaining
\n87.7 percent came from the opening of 10 new stores last year.<\/p>\n
\"We are optimistic that we will be able to reach the target,
\nalthough the competition in retail business is getting tighter,\"
\nSetyadi said.<\/p>\n
He said the new stores would be located in areas with fast-
\ngrowing populations such as industrial areas, new residential
\nareas, and areas close to bus terminals, to cater to middle to
\nlow economic sectors, its main target market.<\/p>\n
\"We are also gradually increasing the prices of some of our
\ngoods, by selling consignment items that would cost slightly more
\nin order to attract our old customers whose earnings have
\nincreased since they first became our customers,\" he said.<\/p>\n
The company expects to open eight to 10 stores a year in the
\nnext two years.<\/p>\n
PT Ramayana, established in 1978, sold 80 million, or 28.57
\npercent, of its shares to the public last year.<\/p>\n
Setyadi said the company raised Rp 245.5 billion from the
\ninitial public offering, which was used to open new stores and
\npay the company's debts. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ramayana-plans-to-open-eight-new-stores-this-year-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}