Ramayana Still Closed 13 Stores Due To Unimproved Public Purchasing Power

Ramayana outlets. (Photo: Twitter @ramayanads)

JAKARTA - PT Ramayana Lestari Sentosa Tbk stated that it is still temporarily closing 13 outlets in various locations. This was done by the company because the sales trend was still plunging due to the COVID-19 pandemic.

From the Ramayana disclosure quoted on Friday, September 11, it was stated that the issuer with the share code RALS stated that it had temporarily closed 94 of its outlets from the end of March 2020 in line with the implementation of Large-Scale Social Restrictions (PSBB).

As of the end of June, Ramayana has re-operated 103 outlets. For information, Ramayana currently has a total of 118 outlets.

"A total of 13 outlets have not reopened due to low sales at these outlets, with details of 8 outlets belonging to a sister company and 5 outlets belonging to a developer," explained Ramayana management.

Ramayana will also apply for rental fee waivers for outlets owned by developers. The Company took steps to restructure the use of space with a very significant decrease in sales.

"The company believes that the use of the same space is considered unproductive. The company will also review and restructure the use of space for sales areas in each unproductive outlet. With this restructuring, it is hoped that it can help the company reduce costs that are not. efficient, "explained the management of Ramayana.

On the other hand, online sales have not been able to increase Ramayana sales either. The contribution of online sales until the first semester of this year is still quite small, namely, 0.4 percent of the total sales in the first semester of Ramayana.

The company's net sales in the first half of this year fell 58.3 percent on an annual basis to IDR2.19 trillion. This caused the company's net profit to contract even further, namely 99.1 percent to only IDR 5.4 billion.

Meanwhile, until the first half of 2020, Ramayana only opened one new outlet, namely Ramayana Cikupa II in May 2020. Ramayana also plans to open another new outlet in the Tangerang area in December 2020.