Amid changing shopping habits of the Indonesian consumer, department store Ramayana Lestari Sentosa continues to transform its business and to adjust it to the modern retail reality. In August 2017 Ramayana Lestari Sentosa announced to close eight stores (in Surabaya, Banjarmasin, Bulukumba, Bogor, Pontianak and Sabang), hence triggering concerns that the company is in financial trouble.

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Ramayana Lestari Sentosa, one of Indonesia's biggest department stores, is expected to see improving corporate earnings in the years ahead. In the first nine months of 2016 the company's sales reached IDR 6.4 trillion (approx. USD $492 million), or about 77 percent of the full-year sales target that was set by Danareksa Sekuritas (IDR 8.07 trillion). This strong performance is primarily supported by same-store sales growth in Jakarta (+8.7 percent y/y), Java (+7.3 percent), and outside Java (+4.1 percent).

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