Ace Hardware said this week it saw record Q4 revenues of $2.1 billion, an increase of $577.6 million or 39.2 percent, from the fourth quarter of 2019. Net income for the quarter was $43.1 million, up $39.6 million from a year prior. Full-year revenues rose by $1.7 billion (27.9 percent) to a record $7.8 billion. Net income for fiscal 2020 was $316.9 million, which was $176.5 million higher than in 2019.
Category Archives: Daily News
Home resales set new record in January
Sales of existing homes climbed by two percent in January, according to the Canadian Real Estate Association (CREA), setting a new all-time record.
The seasonally adjusted activity was running at an annualized pace of 736,452 units, already beating CREA’s total forecast of 583,635 sales for 2021. Actual (not seasonally adjusted) sales activity posted a 35.2 percent gain, year over year, in January. The number of newly listed homes dropped by 13.3 percent, led by double-digit declines in the Greater Toronto Area, Hamilton-Burlington, London and St. Thomas, Ottawa, Montreal, Quebec, and Halifax-Dartmouth.
Stimulus spending boosts U.S. retail sales
Retail sales in the U.S. rose 5.3 percent in January, exceeding economist expectations of a 1.2 percent increase. Excluding automobiles, sales were up 5.9 percent, compared to a forecast of just one percent. Additional stimulus funding approved by Congress a month prior furnished American consumers with cheques for $600, which they used for a wide range of goods. Gains were logged across all major categories, with sales LBM and garden supply dealers spiking by 13.7 percent.
