Ace Hardware reports Q2 growth

OAK BROOK, Ill. — Ace Hardware posted Q2 revenues of $1.4 billion, an increase of $8.7 million or 0.6% from the second quarter of 2015. Net income was $63.4 million for the second quarter of 2016, an increase of $3.5 million from the second quarter of 2015 and the second highest in company history. “New store growth was the primary driver of our record revenue,” said John Venhuizen, President and CEO. “While records are nice, we are not satisfied with the growth as the enterprise and our retailers are working far too hard to settle for modest increases.”