Giant Store Closure: How is HERO's Financial Performance?

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Dwi Hadya Jayani 26/06/2019 14:31 WIB

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Hero Supermarket has experienced losses over the past two years.

Hero's Net Profit/Loss for the Year 2014-2019

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Giant Store Closure: How is HERO's Financial Performance?

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Hero's Net Profit/Loss for the Year 2014-2019

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PT Hero Supermarket Tbk. (HERO) decided to close six Giant retail outlets on July 28, 2019. These six outlets were Giant Express Cinere Mall, Giant Express Mampang, Giant Express Pondok Timur, Giant Extra Jatimakmur, Giant Mitra 10 Cibubur, and Giant Extra Wisma Asri. Considering Hero Supermarket's financial performance, the parent company of Giant has experienced consecutive losses for two years.

Based on HERO's financial reports, the highest loss was recorded in 2018, reaching Rp 1.25 trillion. Over the past five years, Hero only recorded profits in 2014 and 2016, amounting to Rp 43.75 billion and Rp 120.59 billion respectively.

However, performance in 2017 again resulted in a loss of Rp 191.40 billion, following a loss of Rp 144.08 billion in 2015. Meanwhile, the latest financial performance in March 2019 recorded a net loss of Rp 3.5 billion.

Editor : Nazmi Haddyat Tamara

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."