Oak Brook-based Ace Hardware reported record earnings of $8.6 billion today, an increase of some 40 percent from 2019.
The company's net income was $330 million, an increase of 4.1 percent over 2020, according to a company press release.
"This transformational surge in business is driven by two-year stacked comp growth of 34.4%, digital growth of 279%, and the opening of 407 new stores globally over two years," said John Venhuizen, President and CEO. “My sincere thanks and gratitude to our helpful heroes to whom all the credit goes for serving so well in a very difficult environment."
According to the release, Ace added 182 new U.S. stores in fiscal 2021 and cancelled 78 stores, bringing its total domestic store count to 4,751 at the end of fiscal 2021, an increase of 104 stores from the end of fiscal 2020. On a worldwide basis, Ace added 206 stores in fiscal 2021 and cancelled 86, bringing the worldwide store count to 5,583 at the end of fiscal 2021.
In 2021, Ace received several awards recognizing its growth and omnichannel strategy.
In January, a report by Philadelphia-based Total Retail ranked Ace as the 13th fastest-growing U.S.-based retailer between 2019 and 2020, highest in the hardware category and fourth overall among combination online – ”brick and mortar” businesses.
Also in January, New York-based Incisiv ranked Ace Hardware as tops in the home improvement category for online-offline consumer experience, citing its “omnichannel prowess.”
In December, Redwood City, California-based Reputation ranked Ace Hardware as the second most beloved retailer in America. The firm analyzed 3.7 million Google reviews to calculate a “Reputation Score” for each; Ace Hardware scored highest for “consumer sentiment” and “shopper engagement.”
In November, Quebec-based Orckestra’s fifth annual study of omnichannel capabilities ranked Ace Hardware as third overall of 100 retailers considered. It scored highest in the home improvement category, ahead of The Home Depot, Tractor Supply. Co and Lowe’s.
Ace Hardware is the largest retailer-owned hardware cooperative in the world with more than 5,500 locally owned and operated hardware stores in approximately 70 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; Colon, Panama; and Dubai, United Arab Emirates.