Indonesia's Hero Group to close all Giant supermarkets by August

A customer buys groceries at a branch of PT Hero Supermarket at Lagoon Avenue in Bekasi, West Java, in this December 2018 file photo. - JP

JAKARTA (The Jakarta Post/ANN): Publicly-listed retail group PT Hero Supermarket plans to close all of its Giant supermarket outlets by the end of July to improve its finances after the pandemic whammed Indonesia’s retail industry.

The group, which operates 75 Giant outlets according to its website, saw its revenue drop 34 per cent year-on-year (yoy) to Rp 1.7 trillion (US$118 million) in this year’s first quarter as mobility restrictions limit shop operating hours and shifted more consumption online.