Mitra Adiperkasa's Cafe and Restaurant Division Shows Highest Revenue Growth

Currently, there's a shift in lifestyle among people visiting malls or shopping centers. Instead of primarily buying goods, visitors now spend more time simply hanging out, enjoying food and drinks at cafes and restaurants. This is especially true for millennials, who like to showcase their presence by taking selfies in malls and sharing them on social media. For purchasing goods, they prefer online shopping.

This change is reflected in the growth of PT Mitra Adiperkasa Tbk (MAP)'s cafe and restaurant division, which saw a 23.74 percent increase in sales to Rp 988.27 billion compared to the first half of the previous year (YoY). This is the highest growth among all divisions. Meanwhile, MAP's retail sales division recorded a 19.51 percent increase, reaching Rp 5.4 trillion from Rp 4.53 trillion.

However, the department store division experienced a 1.36 percent decrease, falling to Rp 1.36 trillion from Rp 1.37 trillion. The worsening domestic retail market has forced MAP to close all Lotus Department Store outlets by the end of this month. Furthermore, the company (MAPI) will also close all Debenhams outlets by the end of the year. Previously, 7-Eleven closed its stores in mid-year, and Matahari and Ramayana also closed several outlets due to their lack of economic viability resulting from low customer traffic.