Hardware Retail Leader on Track to Open More
Than 200 Stores in Year of Historic Growth
OAK
BROOK, Ill., July 16,
2024 /PRNewswire/ -- Ace Hardware, the largest
retailer-owned hardware cooperative in the world, is proud to
celebrate 100 years in 2024, a milestone achievement underscored by
its 100th new store opening for the calendar year, which also
includes its 5,000th domestic location. Overall, Ace plans to open
more than 200 new stores by the end of the year.
"I'm so proud to announce our 100th new store opening of
the year in the 100th anniversary of the company," said
Ace Hardware President and CEO, John
Venhuizen. "This serendipitous symmetry is a beautiful
testament to the enduring relevance in our faith that human
connection and a servant heart is not the enemy of a successful
business, it's the enabler."
In the first six months, Ace Hardware activated 111 new stores –
a record-breaking feat for the hardware retailer. Last month, the
retailer activated its 100th new store for the year in Henderson, Nev. One of these new stores, Fixit
Ace Hardware in Roswell, Ga., is
also recognized as Ace's 5,000th domestic location. Globally, Ace
has opened more than 900 new stores in the past five years, 203
last year, while disbursing dividends of $357 million and providing a 35% return for Ace
shareholders in 2023.
Ace's new store growth has been fueled by existing retailers
opening additional locations, competitor stores converting to Ace
and new investors opening their first Ace Hardware
store. Interest in owning and operating a local Ace Hardware
store continues to be at historically high levels. Ace operates
more than 5,800 locally owned hardware stores in all 50
states and 60 countries, with global sales topping $22
billion. Ace's unique cooperative business
model offers local entrepreneurs not only the ability to
become owners of their local store operation, but they also become
one of a limited number of shareholders of Ace Hardware
Corporation. Prospective owners interested in learning more can
visit www.myace.com for more information.
In 2024, Ace commemorates 100 years through ongoing celebrations
and innovative product launches, including Loud Mouth™ Barbeque,
its first line of barbeque sauces and seasonings, as well as Ace
Vintage Threads, its first line of apparel that features the
heritage of Ace logos dating back to 1924. For more information on
all things Ace, visit www.acehardware.com.
About Ace Hardware
Ace Hardware is the largest
retailer-owned hardware cooperative in the world with over 5,800
locally owned and operated hardware stores in approximately 60
countries. Headquartered in Oak Brook,
Ill., Ace and its subsidiaries operate an expansive network
of distribution centers in the U.S. and have
distribution capabilities in Ningbo, China; Cuautitlán Izcalli,
Mexico. Ace also owns Ace Hardware
Home Services, a collection of local service companies with
experienced professionals dedicated to helping homeowners complete
home maintenance tasks. Since 1924, Ace has become a part of local
communities around the world and known as the place with the
Helpful Hardware Folks. For more information, visit
acehardware.com or
newsroom.acehardware.com.
Contact: media@acehardware.com
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SOURCE Ace Hardware Corporation