Ace Hardware Indonesia ends 2021 with 11.7 per cent fall in sales

Ace Hardware Indonesia, the country's dominant home improvement retailer, posted a 11.73 per cent fall in sales at the end of 2021, finishing a challenging year on a dismal note. The company disclosed through a recent newspaper ad that it saw sales of 6.543 trillion Indonesian rupiah (IDR, EUR

417.63 mio) for the twelve months ending December 2021, a decline of 11.7 per cent compared with the previous year.

This is the second year in a row that the company has posted a drop in net sales. In 2020, when the impact of Covid-19 set in, Ace Indonesia saw net sales slip by 7.8 per cent. Ace Indonesia attributes its tepid results to reduced store visits and restrictions on the operating hours of retail outlets in the country.

Despite the headwinds, the company increased its store count by eight to 216 outlets at the end of 2021 from 208 at end of the previous year. It also opened two new stores in January 2022.

Ace Indonesia, a member of the Kawan Lama Group, is required under its licence agreement with the US cooperative Ace Hardware to open at least two branches a year. The agreement is set to expire in 2024.