AMRT – Plans to open 800 new stores in 2024

AMRT – Plans to open 800 new stores in 2024 Sumber Alfaria Trijaya (AMRT) plans to open 800 new stores in 2024, focusing on secondary cities across Indonesia outside of Java. As of end of year 2023, AMRT has reached a total of 19,100 stores, that includes the establishment of a distribution center in Madiun. Financially, AMRT' 9M23 net profit reached IDR2.19 tn (+25.1% yoy). Moreover, AMRT has prepared several strategy for 2024, in order to maximize its business growth and development, such as; to continue its new store expansions, and to invest further in its digital initiatives, particularly in optimizing Alfamart's omnichannel presence through the Alfagift app. Yet, AMRT has not inform any specific details regarding the exact amount of capital expenditure (capex) for 2024, and the company only stated that they plans to spend 2024' capex for its stores' renovation, additions of new equipment, lease renewals, and the opening of new warehouses. (Source: Kontan)