Retailers Post Mixed Results in 2024 as Spending Slump Persists

Retailers Post Mixed Results in 2024 as Spending Slump Persists

Indonesian retailers posted mixed 2024 results, with profit growth for some and losses for others amid sluggish consumer spending.

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Minggu, 6 April 2025 | 15:58

Bisnis.com, JAKARTA — Prominent retail companies have released their respective earnings results for full-year 2024 that show mixed performance as some post profit growth while others see declining profitability, with several even dipping into the red.

Among those in the green, PT Aspirasi Hidup Indonesia (ACES)—the company best known for its former association with Ace Hardware—recorded a net profit growth of 15.78% year-on-year (YoY) from IDR 770.4 billion in 2023 to IDR 892.04 billion in 2024.

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