Ace Hardware Outlet Owned By Conglomerate Kuncoro Wibowo, Which Has Been Open For Almost 10 Years In Tangerang, Must Be Closed, What Is The Reason?

JAKARTA - The retail company owned by the conglomerate Kuncoro Wibowo, PT Ace Hardware Indonesia Tbk (ACES) announced it was closing 1 outlet in Bale Kota, Tangerang. However, ACES has opened 9 new stores during 2022.

Ace Hardware Corporate Secretary Helen Tanzil said, ACES has opened 9 new outlets during 2022. These new outlets are located in the cities of Surabaya, Bandung, Depok, Bogor, Lombok, Palembang, Yogyakarta, Magelang, and Tangerang.

"All new store openings have been submitted through information disclosure which must be announced to the public immediately," Helen said in an information disclosure on the Indonesia Stock Exchange (IDX) website, quoted Tuesday 19 July.

In addition to opening 9 new outlets, Aces Hardware also closed one outlet located in Bale Kota, Tangerang. The closing of this outlet will be on June 30, 2022.

"For information, the outlet was opened on May 23, 2013," she said.

Helen continued, with the opening of 9 new outlets and the closing of one outlet, to date ACES has a total of 222 outlets throughout Indonesia.

As for the end of 2021, ACES' net profit was recorded to have decreased by 3.93 percent from IDR 733.19 billion in 2020, to IDR 704.38 billion in 2021.

The decline in ACES' net profit is inseparable from the decline in sales that reached double digits. ACES net sales recorded a correction of 11.72 percent YoY from IDR 7.41 trillion, to IDR 6.54 trillion.