Retailer, PT Matahari Department Store Tbk (LPPF) plans to close six outlets this year. The company said in an information disclosure submitted to the Indonesia Stock Exchange (IDX) on Tuesday (2/2).

The six outlets that will be closed are included in the list of 23 outlets supervised or the LPPF watchlist. Despite closing several outlets, the LPPF is still trying to add new outlets this year. The closest plan, LPPF, will open one outlet in Balikpapan before Lebaran. Until the end of December 2020, the LPPF had a total of 147 outlets, with 23 outlets under supervision. This number has decreased compared to the beginning of 2020, which reached 169 outlets. 

During the first nine months of 2020, the LPPF closed 12 specialty stores and seven unprofitable Matahari Department Store outlets. 

In the nine-month period last year, LPPF continued to open three Matahari Department Store outlets. Meanwhile, in the fourth quarter of 2020, the LPPF closed six unprofitable Matahari Department Store outlets. 

The LPPF's performance last year was very weak; gross sales throughout the year reached Rp8.6 trillion, down to 52.3 percent year on year (YoY) from Rp18.03 trillion.