Ace Hardware Conglomerate Kuncoro Wibowo Closes Outlet At Emporium Pluit Today, Lease Term Has Ended

Ace Hardware outlets. (Photo: Doc. Miko Mall Kopo)

JAKARTA - A household appliances retailer, PT Ace Hardware Indonesia Tbk, has closed one of its outlets. The issuer with the stock code ACES today, Wednesday, December 8, has closed their outlet in Emporium Pluit, Jakarta.

Ace Hardware's Corporate Secretary, Helen Tanzil, conveyed the reason why the company closed its outlets. The company, which is owned by the conglomerate Kuncoro Wibowo, has closed its outlet in Pluit because the lease has expired.

"We hereby inform you that on December 8, 2021, one of the outlets of PT Ace Hardware Indonesia Tbk located in Emporium Pluit, Jakarta has been closed because the lease period has ended", said Helen, in information disclosure, quoted Wednesday, December 8.

Helen further explained the outlet was previously opened on November 19, 2011, with an area of 800 square meters.

Regarding performance, Ace Hardware posted a decrease in net profit attributable to owners of the parent entity by 39.03 percent to IDR 322.85 billion in the third quarter of 2021, compared to the same period the previous year of IDR 529.58 billion.

This decline was the impact of the company's net sales declines during the first nine months of this year by 9.41 percent from the previous IDR 5.48 trillion to IDR 4.69 trillion.

Along with the decline in net sales, ACES' cost of goods sold also fell to IDR 2.38 trillion from IDR 2.77 trillion previously. Thus, the company's gross profit was recorded at IDR 2.30 trillion from last year's September period of IDR 2.70 trillion.