Department store operator PT Ramayana Lestari Sentosa plans to open six new outlets in Bogor, Sumedang, Semarang, Solo and Malang next year to achieve its 2015 full-year sales growth target of 15 percent, Investor Daily newpaper reported, quoting the firm’s director, Suryanto.
Ramayana is targeting revenue of 9.2 trillion rupiah ($757.51 million) next year, up from this year’s target of 8 trillion rupiah and will spend 300 billion rupiah in capital expenditure to finance expansion. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. (1 US dollar = 12,145 rupiah) (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)