ACES – A total of 13 new stores this year

ACES – A total of 13 new stores this year Ace Hardware Indonesia (ACES) is actively expanding its presence, and by the end of December 2023, ACES has opened its 13th store, ACE Xpress in Jatiwaringin, East Jakarta. With the new store, ACES has opened a total of 13 new stores this year and has spent IDR300 bn or all of its 2023' capex allocation. As a result, ACES has a total of 235 stores across 67 cities in Indonesia. Looking at the market trends in 9M23, ACES holds an optimistic outlook, mainly due to stable economic growth, innovative products, and positive market reception. Moreover, ACES' 9M23 net sales grew to IDR5.49 tn from IDR4.89 tn in 9M22 and 9M23' net profit grew to IDR622.02 bn from IDR470.28 bn. (Source: Kontan)