Indonesia’s Ramayana Gets Ramadan Boost After First Quarter Loss

  • Department-store operator targets 7% full-year sales growth
  • Retailer’s shares jumped 21% in two weeks through Monday

PT Ramayana Lestari Sentosa is seeing a pickup in activity before the Muslim fasting month of Ramadan, putting the Indonesian retailer on track to achieve full-year sales growth of as much as 7 percent, according to a director of its parent company.

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