Ace profits edge up on record sales

Ace Hardware Corp. reported record third-quarter revenues of $2.2 billion, up 10 percent from Q3 of 2021. Profits were up slightly to $100.6 million, an increase of 1.3 percent. Ace’s 3,600 retailers reported a 5.8 percent increase in U.S. retail same-store sales. Estimated retail inflation of 11.2 percent helped drive a 9.5 percent increase in average ticket. Same-store transactions were down 3.4 percent.

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