Sales losses for Ace Israel

The Israeli franchisee of Ace, an American dealer-owned retail chain, is struggling against losses of both revenue and profits. Sales in the third quarter were 7.5 per cent down compared with the same period last year to ILS 204 mio. As reported by Globes, a newspaper, the company is considering closing down some of its current total of 18 stores in the Ace Auto Depot division. At present the company also has 36 DIY stores and one supermarket in operation.