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Thanks to Lebaran, Matahari reports sales of Rp3.7 trillion.

Thanks to Lebaran, Matahari reports sales of Rp3.7 trillion.

"Dream - Matahari retail platform reported sales of Rp3.7 trillion, indicating a 35.9% increase in the first quarter of 2024 compared to last year (year on year), with Same Store Sales Growth (SSSG) of 34.3%."

Thanks to Lebaran, Matahari Reports Sales of Rp3.7 Trillion

The sun reveals that the increase is also driven by an earlier Eid season compared to last year.

Thanks to Lebaran, Matahari Reports Sales of Rp3.7 Trillion

Meanwhile, the company's EBITDA in the first quarter of 2024 reached Rp519 billion and net profit reached Rp326 billion, almost half of last year's total figure.

Thanks to Lebaran, Matahari Reports Sales of Rp3.7 Trillion

The performance of the first two months resulted in a SSSG (Same Store Sales Growth) of 0.7 percent, while during the Eid period it reached a SSSG of -2.4 percent. Although there was a decrease in gross margin in the first quarter of 2024 to 34.9 percent from 35.4 percent last year due to stock clearance activities in January and February, the gross margin during this year's Eid increased by 0.2 percent compared to the same period last year.

The effective purchasing strategy and the schedule related to the Eid season allow the company to close this quarter with stocks that are 27 percent lower than the first quarter of the previous year. Matahari evaluates that it can put the company's business in a better position from the perspective of stock settlement.

"During this Eid season, our performance has been affected by macroeconomic factors such as a decrease in spending in the lower-middle segment. We continue to actively identify areas where we can improve our business operations, develop our product offerings, and refine our strategic approach."

"unveiled the CEO of Matahari, Monish Mansukhani."

               

The following is the translation of the 'Bahasa' text to 'English' while preserving any HTML tags: "The Sun also stated that the opening of the store with a new concept at AEON Deltamas has received positive responses from consumers. A more selective approach regarding the opening of new stores has changed the target of store openings to 3 to 4 new stores in 2024."

The following is the translation of the given 'Bahasa' text to 'English' while preserving any html tags: "The progress of store renovations is also going according to plan, with the closure plan for 8 out of 10 stores in 2024 already finalized with the building owners. On the other hand, the digital channel continues to be developed by continuously improving customer experience and technology through offering more product choices, marketing strategies, and personalized rewards, as well as enhancing UI/UX features."

In addition, more than 30 new third-party brands have been introduced this year to meet the needs of customers in the higher income segment.

Thanks to Lebaran, Matahari Reports Sales of Rp3.7 Trillion
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