Ace Hardware enjoys record quarterly results

Ace Hardware reported record fourth-quarter revenues of US$2.3 billion, a 7.6 percent increase from Q4 2023. Net income for the quarter hit another record for the company, reaching $53.8 million. Sales by the 3,700 Ace retailers (including no Canadian Ace dealers) were up 1.6 percent, reflecting a 1.9 percent increase in average ticket but slightly offset by a 0.3 percent decrease in same-store transactions. Consolidated revenues for fiscal 2024 totalled $9.5 billion, an increase of 3.9 percent.