JAKARTA. Sales of lifestyle products helped boost PT Ace Hardware Tbk's (ACES) revenue in August 2020, enabling the company to record a growth of 5.2% on a monthly basis.
A research conducted by Mirae Asset Sekuritas showed that in August, ACES sold a lot of lifestyle products such as gardening tools and sports equipment, mainly due to the implementation of Large-Scale Social Restriction (PSBB). Sales in August was recorded at Rp648 billion, down by 3.6% on an annual basis (YoY), but 5.2% higher than the record in July.
Meanwhile, ACES recorded Rp4.9 trillion in total sales up to August this year, or down 5.6% YoY.
in its research, Mirae stated that sales of lifestyle products will support the company's overall margins because the gross margin profile of lifestyle products is 200 bps higher than other products sold by ACES. (AM/AR)