This week, Ace Hardware Corp. reported first-quarter 2016 revenue of $1.2 billon, for an increase of 4.3 percent above the same period in 2015.
The home improvement cooperative also experienced same-store sales growth, with an increase of 2.2 percent from the first quarter of 2015 that was driven by a 2.9 percent increase in average transaction size, according to the company.
Growth hasn’t been as rapid so far in 2016 as it was in 2015, but is still ahead of the company’s plans, president and CEO John Venhuizen says.
Total wholesale revenue was also up, increasing 4.1 percent to $1.2 billion. The largest wholesale revenue gains were in the outdoor living, electrical and tools categories.
During the first quarter, Ace added 24 new domestic stores, bringing the company’s total domestic store count to 4,302, for an increase of 50 stores from the first quarter of 2015.