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Ace Hardware reported total revenues of $1.33 billion for the second quarter of 2014, an increase of $157.0 million, or 13.4 percent, 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 percent, from the second quarter of 2013.
“Companies our size and age do not grow double digits by accident,” says John Venhuizen, Ace president and chief executive officer. “It’s only through a thousand points of disciplined execution from great people that results like this occur.”
“It’s a privilege to work with such a dedicated and effective team,” continues Venhuizen. “For 90 years now, we’ve taken a stand for the small, mostly family-run businesses who duke it out every day with many of the biggest, most well-funded companies on Earth. Our exceptional small business owners have once again generated record financial results by consistently delivering award winning service to their neighbors.”
The 3,100 Ace retailers who transmit daily retail POS data enjoyed a strong quarter as well, with increased customer count and average transaction size, which contributed to a 3.6-percent same-store-sales increase. For the first half of 2014, same-store-sales at these stores are up 4.2 percent.
To read the full press release click here.
