Ace Hardware Reports Record Q4 Revenues

• Record full year revenues of $8.6 billion, an increase of 10.7 percent on top of last year’s increase of 27.9 percent
• Record fourth quarter revenues of $2.1 billion, an increase of 0.7 percent on top of last year’s increase of 39.2 percent
• U.S. same-store-sales up 6.9 percent during the quarter and 7.5 percent for the year
• Record full year net income of $330.0 million, an increase of 4.1 percent on top of last year’s increase of 125.7 percent
• Record patronage dividend to shareholders of $314.4 million, an increase of 7.3 percent on top of last year’s increase of 60.8 percent

Ace Hardware Corporation (“Ace” or the “Company”) today reported record fourth quarter 2021 revenues of $2.1 billion, an increase of $14.2 million, or 0.7 percent, from the fourth quarter of 2020.  Fiscal 2021 consisted of 52 weeks compared to 53 weeks in fiscal 2020.  Excluding the 53^rd week in fiscal 2020, revenues in the fourth quarter increased $114.1 million, or 5.8 percent, from the fourth quarter of 2020.  Net income was $9.3 million for the fourth quarter of 2021, a decrease of $33.8 million from the fourth quarter of 2020.  

Full year revenues were a record $8.6 billion, an increase of $831.5 million, or 10.7 percent, from 2020 revenue (an increase of $931.4 million or 12.2 percent excluding the 53^rd week in fiscal 2020).  Net income for fiscal 2021 was $330.0 million, an increase of $13.1 million, from fiscal 2020. 

“In comparison to 2019, total revenue increased 38.6% and net income is up 129.8%,” said John Venhuizen, President and CEO.  “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.”

“My sincere thanks and gratitude to our helpful heroes to whom all the credit goes for serving so well in a very difficult environment,” said Venhuizen.”

The 6.9 percent increase in retail same-store-sales during the fourth quarter of 2021 reported by the approximately 3,400 Ace retailers from whom we secure daily retail sales data was the result of a 10.5 percent increase in average ticket, partially offset by a 3.3 percent decrease in same-store transactions. The 7.5 percent increase in retail same-store-sales for the full year was the result of a 9.4 percent increase in average ticket, partially offset by a 1.7 percent decrease in same-store transactions.

Source : Ace Hardware

Image : Sundry Photography / Shutterstock.com (1668335116)

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.