7 Eleven: Another Victim of Retail Competition

Hero Supermarket (HERO) booked net profit of Rp120.6 billion last year, an improvement compared to 2015 when it posted net loss of Rp144 billion. The profit, however, represents margin of 0.88% only. HERO has earlier been forced to leave smaller retail format Starmart, divesting some convenience stores to Wings Group. Ranch Market operator Supra Boga Lestari (RANC) has also given up convenience stores business under the Ministop brand name last year.To subscribe please click here