How many Giant stores are there?

PT Hero Supermarket Tbk (HERO) will close six Giant stores in the Jabodetabek area on July 28, 2019. The six stores to be closed consist of three Giant Express and three Giant Extra stores. The closures are attributed to intense competition in the food retail business, changing consumer shopping habits, and declining financial performance due to losses incurred by the Hero group. Compared to 2017, the number of Giant stores has decreased. In 2018, the number of Giant Express stores decreased by 23 units, while Giant Extra stores decreased by 1 unit.

For information, HERO operates several business units throughout Indonesia. At the end of 2018, HERO managed 445 stores. This comprised 270 Guardian stores, 82 Giant Express stores, 57 Giant Extra stores, 32 Hero Supermarket stores, 3 Giant Mart stores, and 1 IKEA store. This represents a decrease compared to the previous year's total of 449 stores. Only Guardian stores saw an increase compared to the previous year.

Based on the financial report for December 2018, the retail issuer experienced a loss of Rp 1.25 trillion. This figure represents an increase from the previous year's loss of Rp 191 billion. Meanwhile, according to the financial report for March 2019, HERO recorded a loss of Rp 3.5 billion, an improvement compared to the same period last year, which amounted to Rp 4.1 billion.

(Read Databoks: 2018, There Were 1,131 Modern Stores in Indonesia)