Ace Hardware nearly doubles profit in Q1

OAK BROOK, Ill. ― Ace Hardware Corp. reported record first-quarter revenues of $1.38 billion, an increase of 5.1% from the first quarter of 2018. Net income almost doubled to $22.6 million, driven by revenue growth and the timing of vendor funds earned. Comp sales were up 3.9%. The company added 21 net new stores in Q1.