New Stores, Better Economy To Lift Sales, Ramayana Says
PT Ramayana Lestari Sentosa, the country’s second-biggest department store chain by market value, is expecting sales to rise 10 percent this year as it opens new outlets.
Ramayana may open 10 new stores this year and plans to expand its supermarket business as the country’s improving economy boosts demand, Ramayana finance director Suryanto said on Wednesday.
The Jakarta-based retailer is betting on rising consumer spending as inflation and record-low interest rates bolster economic growth. “There are signs of improvement in our sales from October to December,” Suryanto said. “We’re now trying to focus more on our supermarkets.” Bloomberg
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