Ace Hardware Has Record Quarter

Ace Hardware Corporation had a record second quarter, with revenues at $2.5 billion, an increase of $187.8 million (up 8.2 per cent) from the second quarter of 2020. Additionally, the company had a second quarter net income of $116 million, a decrease of 16.5 per cent year-over-year. Total retail revenues for the quarter were $255.3 million, an increase of $6.1 million, or 2.4 per cent, as compared to the prior year second quarter. Retail revenues from Ace Retail Holdings LLC were $248.7 million, up 3.9 per cent, from the year-ago period. Total wholesale revenues were $2.2 billion, an increase of $181.7 million, or nine per cent, as compared to the prior year quarter. Retail revenues from Ace Ecommerce Holdings LLC were $6.6 million, a decrease of $3.3 million, or 33.3 per cent, from the second quarter of 2020.