JAKARTA. PT Hero Supermarket Tbk's (HERO) is revising its sales strategy to boost sales as its performance continues to suffer due to the coronavirus (COVID-19) pandemic. This is being done in response to the company's increasing loss.
According to HERO Director Erwantho Siregar, the company needs to make adjustments to the government's policy on large-scale social restrictions including reduced operational hours and limiting the number of visitors to its Giant, Hero, Guardian, and IKEA stores. As a result, the company has resorted to online sales as an alternative to boost revenue.
In the third quarter (Q3) of 2020, HERO's revenue dropped 27.65% year on year (yoy) to Rp 6.86 trillion from Rp 9.48 trillion in the same period last year, which caused its loss to skyrocket to Rp 339.46 billion from Rp 6.68 billion in the same period last year. (AM/MS)