Ace Hardware sees 6.5 percent revenue jump in 2Q

OAK BROOK - Ace Hardware Corp. said second quarter 2015 revenues were up 6.5 percent from the same period last year as sales at the national hardware store cooperative grew.

The company reported $1.4 billion in revenues for the quarter. up from $86.2 million during the same period in 2014. Net income was $57.5 million for the second quarter of 2015, a decrease of $9 million from last year, but the second highest in company history, officials said.

For the first half of 2015, retail same-store-sales reported by the approximately 3,000 Ace retailers who share daily retail sales data increased 6.5 percent and Ace Retail Holdings LLC rose 4.7 percent, mainly from an increase in customer count and average transaction size.

"Ace's record second quarter revenues for the second consecutive year were a direct result of the hard and effective work of our great people and world class retailers," said Ace President and CEO John Venhuizen. "While our net income declined from last year, we are still far ahead of our plan and believe the investments we are making are a significant driver of the impressive 4.6 percent increase in retail same-store-sales for the quarter."

Ace added 31 new domestic stores in the second quarter of 2015 and closed 27 stores, bringing the company's total domestic store count to 4,256 at the end of the second quarter of 2015, an increase of 30 stores from the second quarter of 2014.