Expansion To Lombok And Palembang, Ace Hardware Owned By Conglomerate Kuncoro Wibowo Officially Has 221 Outlets Throughout Indonesia

JAKARTA - PT Ace Hardware Indonesia Tbk (ACES) continues to push for expansion by adding new outlets. This time, the company opened outlets in Mataram, Lombok, West Nusa Tenggara and Veterans, Palembang, South Sumatra.

The opening of this new store adds to a total of 221 retail outlets belonging to conglomerate Kuncoro Wibowo.

Ace Hardware Corporate Secretary Helen Tanzil explained, as a development strategy, Ace Hardware opened a new store in Mataram. This outlet is the fifth store to open this year and has an area of 1,200 square meters.

Meanwhile, the outlet in Palembang is located on an area of 700 square meters and is the sixth outlet to open this year.

"Thus, the company currently has 221 outlets," he explained in information disclosure, quoted Wednesday, April 20.

Previously, in mid-February, the company had just opened an outlet in Cileungsi, West Java. At that time, the company opened an outlet on an area of 800 square meters.

For information, the company's performance in 2021 is less than encouraging. Ace recorded a 3.93 percent decrease in net profit from Rp.733.19 billion in 2020 to Rp.704.38 billion in 2021. The decline in ACES's net profit could not be separated from the double-digit decline in sales.

ACES net sales recorded a correction of 11.72 percent from IDR 7.41 trillion to IDR 6.54 trillion. The decline in sales was also followed by a decrease in cost of goods sold by 11.26 percent to IDR 3.33 trillion, from IDR 3.75 percent in 2020.