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Ace Hardware Corp. today reported double-digit growth in revenue and net profits in the third quarter of 2015.
Revenue was $1.3 billion, an increase of 13.2 percent from the third quarter of 2014. Net income for the quarter was $54.2 million, an increase of 45.3 percent from last year.
In the third quarter, retail same-store sales went up 5.3 percent, with the most notable growth seen in the outdoor living and lawn and garden categories.
“We are delighted to announce the best third-quarter sales and profit in Ace’s history,” president and CEO John Venhuizen says. “The credit falls squarely on the shoulders of our world-class retailers, associates and corporate teammates.”
Total wholesale revenues were $1.2 billion, an increase of 13.4 percent from the year prior. This year, Ace Hardware grew its wholesale company by launching Emery Jensen Distribution in mid-America. The co-op’s wholesale division also includes distributors Emery-Waterhouse and Jensen Distribution Services, which Ace purchased within the past two years.
The Illinois company had a total of 4,275 stores at the end of the third quarter.
