ACES – Sales grew 12.1% yoy/26.5% mom in Dec'24

ACES – Sales grew 12.1% yoy/26.5% mom in Dec'24 Aspirasi Hidup Indonesia' (ACES) sales grew 12.1% yoy/26.5% mom to IDR911 bn in Dec'24 due to Christmas and Year end' festivities amidst its stores' expansion in second-tier and third-tier cities. As a result, ACES' revenue reached IDR8.5 tn (+13% yoy) in 2024. Moreover, ACES' SSSG grew 7% yoy in Dec'24, with a total of 245 stores that spread out across 75 cities. This made, ACES' SSSG reached 8.8% yoy in FY24 and was above the company' initial target of 8.1% yoy. The achievement was also due to its member loyalty program and monthly thematic campaigns featuring special offers, which could have a negative impact on its margins. Thus, ACES will continue to expand its business this year and has used a new name for its stores, which is Azko. (Source : Kontan)