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This week, Ace Hardware Corporation reported record revenue and net income for the first quarter of 2015.
First-quarter revenues of $1.2 billion were 10 percent higher than the first quarter of 2014. Net income was $29.9 million for the first quarter of 2015, an increase of 22.5 percent year over year.
Ace retailers reported a 9.2 percent increase in retail same-store sales, a 5.3 percent increase in customer count and a 4.2 percent increase in average transaction size.
“I want to thank the entire Ace enterprise for delivering record first quarter revenues and net income for the second consecutive year,” says John Venhuizen, Ace president and CEO. “Our strategic acquisitions, new stores and an impressive 9.2 percent increase in retail same-store sales fueled the double digit growth.”
Total wholesale revenues were $1.1 billion, an increase of 10.1 percent compared to the first quarter of 2014. Excluding the nonrecurring revenues related to the rollout of the new Paint Studio in 2014, wholesale revenues increased by $133.1 million, or 13.2 percent, in the first quarter of 2015 compared to the prior year.
Ace, which is headquartered in Oak Brook, Illinois, had a total domestic store count to 4,252 at the end of the first quarter of 2015, an increase of 32 stores from the first quarter of 2014.
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