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Performance Sales per Store Declined, the Net Profit of the Sun Fell 20%

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Berita Terkini
Performance Sales per Store Declined, the Net Profit of the Sun Fell 20%

Katadata.co.id - PT Matahari Department Store Tbk (LPPF) posted a net profit in the period January-September 2019 amounted to Rp 1.18 trillion.

This figure plummeted to 20.8% compared to the same period in the previous year (year on year/ yoy), Rp of 1.49 trillion.

Citing financial statements of the company, during January-December 2019, the Sun recorded gross sales of Rp 13.8 trillion, up 1.5% compared to the same period last year to Rp 13.6 trillion.

The lack of growth in sales of the company in line with the average level of growth of sales per outlets (same store sales growth/ SSSG) of the Sun which fell drastically to 0.5% from 4.4%.

(Read: Open-Close Outlet, a survival Strategy in the Midst of Intense Competition)

The lack of sales of the company also caused the company's gross profit depressed by 2.5% to Rp 4.7 billion and EBITDA down 15.6% to Rp 1.8 trillion from Rp 2.1 trillion.

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