Food Sales Decline, HERO Operational Loss Rp 163 Billion

PT Hero Supermarket Tbk (HERO) has closed 26 stores and cut off employment of 532 employees. This step is done because the company is doing efficiency. Losses in the food business also affect the performance of this retail store.

Corporate Affairs of the GM Hero Supermarket, Tony Mampuk explained that in the consolidation in the third quarter of 2018 there was a net profit.

“However, in the third quarter of 2018, it was also stated that the food business sales fell 6 percent and resulted in operating losses of Rp 163 billion,” Tony said in his statement on Sunday (1/13/2019).

He said that this loss was worse than the same period the previous year of Rp. 79 billion. Tony explained that as many as 532 employees who were laid off were employees of food business.

Based on the financial statement issued by the company in the third quarter of 2018, HERO’s profit was recorded at Rp. 86.18 billion, an increase compared to the same period before Rp. 70.4 billion. (kil / fdl)

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