Net income at the Indonesian retailer was down 21% in the second quarter to IDR 303,043 million ($19.4 mm) from IDR 384,997 million last year, attributed to ForEx headwinds and a loss on an asset disposal. Revenues were 29% higher at IDR 4,193,880 ($267.8 mm), up from IDR 3,246,080 million. Gross margin in the quarter dipped 410 basis points to 45.1%, while operating expenses were up 29%, but were flat as a ... Log in to view full article.
