Good News From Ace Hardware, This Kuncoro Wibowo Conglomerate Company Opens Its 9th Outlet This Year, Located In Tangerang

JAKARTA - A hardware retailer, PT Ace Hardware Indonesia Tbk (ACES) has just opened another new outlet on November 18, 2021 yesterday. The outlet is the 9th outlet for the company owned by the conglomerate Kuncoro Wibowo to open this year.

The location of the 9th outlet is in Graha Raya, Tangerang, Banten with an area of about 550 square meters. Thus, Ace Hardware currently has a total of 215 outlets spread throughout Indonesia.

Previously, Ace Hardware had opened eight new outlets in the period 22 February 2021-21 September 2021. All of them are still located on the island of Java.

Here are the details:

- The first outlet opened on February 22, 2021, located in Kudus, Central Java with an area of about 3,100 square meters. - The second outlet opened on April 10, 2021, located in Greenlake City, Tangerang, Banten with an area of about 900 square meters. The third outlet opened on April 22, 2021, located in Yogya Lembang Junction, Bandung, West Java with an area of approximately 900 square meters. .- The fifth outlet opened on June 11, 2021, located at Jogja City Mall, DIYogyakarta with an area of about 1,800 square meters.- The sixth outlet opened on September 5, 2021, located in Sukabumi Kosasih, West Java with an area of about 2,800 square meters. The seventh outlet opened on September 11, 2021, located in Grand Cimanggis, Depok, West Java with an area of about 3,200 square meters.- The eighth outlet opened on 29 September 2021, located in Grand Cakung, Jakarta with an area of about 2,700 square meters.

Ace Hardware recorded an unsatisfactory performance in the third quarter of 2021. In Ace Hardware's financial report published on the Indonesia Stock Exchange (IDX) website, quoted on Thursday 4 November, the company posted net sales of Rp. 4.60 trillion, down 14.35 percent compared to with the same quarter in the previous year amounting to Rp5.38 trillion.

This decline in sales occurred in all of the company's products, ranging from household improvement products, lifestyle products, and game products. The repair products that contributed the most to the company's sales fell to Rp. 2.45 trillion from the previous quarter in the third quarter of 2020 of Rp. 2.85 trillion.

Furthermore, sales of lifestyle products in the third quarter of 2021 were recorded at Rp. 1.98 trillion, which also decreased compared to the same period in the previous year of Rp. 2.35 trillion. It's the same with game product sales from IDR 174.33 billion to IDR 173.71 billion.

Through these sales, the company posted a gross profit of IDR 2.31 trillion in the third quarter, this gross profit also decreased when compared to the same quarter in 2020 of IDR 2.71 trillion.

Total comprehensive income attributable to owners of the parent company also fell by 39.04 percent. In the third quarter of 2020, it posted a profit of IDR 529.59 billion to IDR 322.85 billion in the third quarter of 2021.