JAKARTA. PT Sumber Alfaria Trijaya Tbk (AMRT), the managing company of Alfamart and Alfamidi retail network, has closed down approximately 400 outlets since the beginning of this year due to their unprofitability.

According to Solihin, Corporate Director of AMRT, this decision took place as some of these outlets failed to book profit as they were expected to. On the other hand, these outlets struggled with high lease and low sales.

“If they are profitable, we will surely keep them running,” said Solihin, as quoted by Bisnis Indonesia a couple of days ago (16/12),

However, Solihin further claimed that AMRT will maintain its financial performance by establishing new outlets across several regions. The number of newly opened stores is actually higher than the closed-down ones.

AMRT’s target, however, is to open 800 new outlets by the end of this year. “We have hundreds of outlets closing down, so we must establish more [than 800 outlets],” added Solihin.

For the record, the target was slightly lower than AMRT’s initial projection this year. In May 2024, the company reveals its target of 1,000 new outlets, backed by its capital expenditure budget of IDR 4.5 trillion.

According to IDNFinancials, AMRT booked revenue of IDR 88.22 trillion within the first nine months (9M) of 2024, resulting in net profit of IDR 2.39 trillion. (KR/ZH)