Ace Has Strong First Quarter

Ace Hardware Corporation had first quarter 2021 revenues of $2 billion, an increase of 42 per cent compared to the first quarter of 2020. Total wholesale revenues were $1.9 billion, an increase of 41.8 per cent over the prior year first quarter. Increases were seen across all departments with outdoor power equipment, grilling, power tools, and paint showing the largest gains. Its Ace International Holdings, Ltd. subsidiary had a $12 million increase in wholesale revenue versus the first quarter of 2020, while Ace Wholesale Holdings LLC had a $15.5 million increase in wholesale revenues from the first quarter of 2020. Total retail revenues were $162.7 million, an increase of 44.8 per cent year-over-year. Retail revenues from Ace eCommerce Holdings LLC were $5.6 million in the first quarter, an increase of 30.2 per cent from the previous year. Overall net income was $105.4 million, an increase of $69.2 million from the year-ago period.