ACES - A 8.2% yoy lower sales in Sep 25 due to weaker demand

ACES - A 8.2% yoy lower sales in Sep 25 due to weaker demand Aspirasi Hidup Indonesia (ACES), operator of the Azko retail brand, posted a same store sales growth (SSSG) decline of 8.2% yoy in Sep 2025, which is way below the company’s >1% yoy growth target. Sales weakened across all regions — Jakarta (-4.7%), non-Java (-1.7%), and Java excluding Jakarta (-4.6%). Analysts expect the soft performance in 2Q25 to continue into 3Q25, citing sluggish household spending despite stronger brand awareness following Azko’s launch earlier this year. (Source : Investor Daily)