Ace Hardware Conglomerate Kuncoro Wibowo Opens New Outlet In Bandung, But Closes 1 Outlet In Cempaka Putih

Ace Hardware outlets. (Photo: Doc. Summarecon Mall Bekasi)

JAKARTA - The retail company owned by the conglomerate Kuncoro Wibowo, PT Ace Hardware Indonesia Tbk (ACES) opened new outlets as of the end of January 2022. Currently, the total outlets owned by the company reached 217 outlets as of early February 2022.

Ace Hardware Indonesia's Corporate Secretary Helen Tanzil explained that the company has just opened a new outlet in Buah Batu, Bandung, West Java on January 27, 2022. This outlet is the second store to open in 2022 and has an area of about 1,300 square meters.

"In addition, on January 31, 2022, the company closed its outlet located in Cempaka Putih, Jakarta. For information, the outlet opened on December 2, 2011," he said in a written statement, quoted on Wednesday, February 2nd.

Previously, the first new Ace Hardware store in 2022 was opened in Surabaya, East Java on Thursday, January 20, 2022. The new outlet is precisely located in Margorejo, Surabaya, East Java with an area of about 700 square meters.

At the end of 2021, ACES announced that it had closed its outlets at Marvel City Mall, Surabaya, East Java with an area of approximately 2,563 square meters due to the expiration of the lease period.

Analysts believe that ACES is trying to strengthen online sales during emergency PPKM to compensate for closing physical outlets. ACES will continue to strive to increase its online sales, considering that a number of consumers have changed their shopping habits from offline shopping to online.

ACES's revenue will decrease to IDR6.77 trillion at the end of 2021, from IDR7.41 trillion at the end of 2020. Likewise, ACES's profit is expected to decrease from IDR732.5 billion to IDR541.5 billion in 2021.