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Ace Hardware Reports Record Revenue in Q4 2019

Ace Hardware Corp. reported a record fourth quarter revenue in 2019 of $1.5 billion, a 6.1 percent increase from the fourth quarter of 2018. Net income was $3.5 million for the quarter, a decrease of $21.7 million from the fourth quarter of 2018. The co-op also reported increases over the full year, including revenues of $6.1 billion, a 6.2 percent increase over 2018 revenue. 

“I’m delighted to report record revenue that exceeded $6 billion for the first time in Ace’s history,” says John Venhuizen, president and CEO, in the company’s news release. “Our best-ever sales and dividend payments to shareholders were largely driven by 208 new store openings across the globe, a 59 percent increase in our acehardware.com business and solid same-store sales growth of 2.8 percent from our very talented local Ace owners across the U.S.”

According to the release, the 2.1 percent increase in retail same-store sales during the fourth quarter of 2019 reported by the approximately 3,200 Ace retailers who share daily retail sales data was the result of a 3.2 percent increase in average ticket, partially offset by a 1.1 percent decrease in same-store transactions. The 2.8 percent increase in retail same-store sales for the full year was the result of a 2.6 percent increase in average ticket and a 0.2 percent increase in same-store transactions.

Ace Hardware is the largest retailer-owned hardware cooperative in the world with more than 5,300 locally owned and operated hardware stores in approximately 70 countries.

To read a more in-depth analysis of Ace’s 2019 financial results, click here.

 

About Hans Cummings

Hans Cummings
Born in Indiana and raised in Indiana, Germany and Virginia, Hans has worked for NRHA since 2001. He has a B.A. in English from Indiana University and is a published fantasy and science-fiction author. His hobbies include cooking, especially smoking meats, tabletop and video games and supporting space sciences and science education.

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