Ace reports Q2 jump in revenue

OAK BROOK, Ill. — Ace Hardware reported total revenues of $1.33 billion for the second quarter of 2014, an increase of $157.0 million or 13.4%, from the second quarter of 2013. Net income was $66.5 million for the second quarter of 2014, an increase of $24.2 million or 57.2% from the second quarter of 2013. Total wholesale revenues were $1.25 billion, an increase of $155.0 million, or 14.1%, as compared to the prior year quarter. Increases were noted in virtually every department with the paint, electrical, and lawn and garden categories showing the largest increases. Wholesale merchandise revenues to comparable stores increased $64.3 million in the second quarter of 2014.