Hardware Retailing The Industry's Source for Insights and Information
Ace Hardware Corporation released its sales and revenue numbers for Q4 2021 and full year 2021 results, recording full-year revenues of $8.6 billion, a 10.7 percent increase in full-year revenues on top of 2020’s increase of 27.9 percent. Q4 revenues totaled $2.1 billion, up 0.7 percent on top of the 39.2 percent increase from Q4 2020.
U.S. same-store sales were up 6.9 percent during the fourth quarter and 7.5 percent for the year. Ace experienced a record full-year net income of $330 million, an increase of 4.1 percent. The company also paid a record patronage dividend to shareholders of $314.4 million, up 7.3 percent on top of last year’s increase of 60.8 percent.
“In comparison to 2019, total revenue increased 38.6 percent, and net income is up 129.8 percent,” says John Venhuizen, president and CEO. “This transformational surge in business is driven by two-year stacked comp growth of 34.4 percent, digital growth of 279 percent and the opening of 407 new stores globally over two years. My sincere thanks and gratitude to our helpful heroes to whom all the credit goes for serving so well in a very difficult environment.”
Ace opened 182 new domestic stores in fiscal year 2021 and closed 78 stores, bringing the company’s total domestic store count to 4,751. The company was also recently named Top Omnichannel Customer Service Provider by Incisiv.
