ACES – Store expansion boosts performance

ACES – Store expansion boosts performance ACES is expected maintain strong performance in 2023, driven by store expansion and robust Same-Store Sales Growth (SSSG) of 10.9% in September 2023. SSSG in regions outside Java increased by 16.3%, and in the Java market, excluding Jakarta, it grew by 8.7%. The performance increase is attributed to revenue growth, enhanced efficiency, and the addition of 9 new stores during 9M23, aligning with ACES goal of opening 10-15 stores annually. Note that, ACES recorded net profit of IDR485,83 bn (+38,13% yoy) with net profit margin of 10,75% for 9M23. (Source: Kontan)