Ace Hardware Has Record Second Quarter
Ace Hardware Corp. had record second quarter 2020 revenues of $2.28 billion, an increase of $591.6 million, or 35.1 per cent, from the second quarter of 2019. Net income was $138.9 million for the quarter, an increase of $85.1 million from the same quarter of 2019. Total retail revenues for the quarter were $249.2 million, an increase of $90.5 million, or 57 per cent, as compared to the prior year second quarter. It added 25 new domestic stores in the second quarter of 2020 and cancelled 27 stores. Its total domestic store count was 4,564 at the end of the quarter. On a worldwide basis, it added 32 stores in the second quarter and cancelled 27, bringing the worldwide store count to 5,386 at the end of the second quarter of 2020.