Ace Hardware Q1 profit more than doubles to $70.3M as revenue jumps 10.9%
The cooperative posted Q1 revenue of $2.5B, with same-store sales up 4.9% on a 4.2% higher average ticket. Wholesale grew 11% and retail 6%. Ace added 35 US stores (19 closures) to reach 5,266 domestic and roughly 8,900 global locations.
Ace Hardware Q1 net income more than doubled to $70.3M as revenue rose 10.9% to $2.5B. Same-store sales climbed 4.9% on higher average tickets; cooperative ended the quarter with 5,266 US stores after 35 openings.