Labour Costs Affect Ace Hardware Income

Ace Hardware Corporation had revenues of $2.5 billion for the second quarter of 2021, an increase of 8.2 per cent compared to revenues in the second quarter of 2020. Total wholesale revenues increased nine per cent and total retail revenues increased 2.5 per cent year-over-year. Ace International Holdings had revenues of $73.8 million compared to $49.6 million in the year-ago period. Overall net income was $166 million, a decrease of $22.9 million last year. The decrease was partly attributable to higher warehouse labour costs. U.S. retail same-store-sales rose 1.2 per cent during the quarter and was the result of a 7.1 per cent increase in average ticket partially offset by a 5.5 per cent decrease in same-store transactions.