The Indonesian retailer’s net income attributable to shareholders tumbled 93% to IDR 5,069 million ($0.4 mm) in the first quarter from IDR 69,161 million, on 13% lower revenues of IDR 1,275,864 million ($90.0 mm) down from IDR 1,468,559 million. Gross margin was down 130 basis points to 42.8%, while operating expenses were lower but still deleveraged as a percent of sales. Shoppers flocked to stores when brick-and-mortar retail reopened in Q4, and demand continued to be strong though the CNY holiday leading to inventory shortages ... Log in to view full article.