Ace Hardware Revenues Inch Up

Ace Hardware Corporation had revenues of $2 billion for the third quarter of 2021, an increase of 1.4 per cent over revenues in the third quarter of 2020. Increases were seen across several departments with outdoor power equipment, basic electrical, and power tools showing the largest gains. Ace International Holdings had revenues of $70.3 million for the quarter with wholesale revenue up $20.5 million year-over-year. Overall net income was $99.3 million for the quarter, an increase of $600,000 from the third quarter of 2020. Total retail revenues were $189.1 million, an increase of 1.5 per cent, as compared to the prior-year quarter. Retail revenues from Ace International Holdings and Ace Retail Holdings were $185 million, up 2.9 per cent over last year. Retail revenues from Ace eCommerce Holdings were $4.1 million in the third quarter of 2021, down 36.9 per cent, reversing the 22.6 per cent pandemic related surge in the prior year.