Ace {Hardware} Opens Over 100 New Shops In 2022 And Continues Distribution Community Growth

OAK BROOK, In poor health., Aug. 10, 2022 /PRNewswire/ — Ace {Hardware}, the most important retailer-owned {hardware} cooperative on this planet, lately celebrated the opening of its 105^th new retailer in 2022. The corporate expects to open no less than a further 60 extra new shops by the top of the yr. To maintain tempo with the expansion, Ace continues to put money into increasing its distribution community to deal with extra stock nearer to the rising variety of Ace shops and prospects. The corporate plans so as to add 4.4 million sq. ft of capability to its distribution community by opening three new warehouses within the subsequent 5 years. That is along with the greater than 2.5 million sq. ft it is added up to now 4 years. 

“With over 100 new shops already opened for the yr, we stay enthusiastically bullish in regards to the continued prospect for brand new retailer development, “stated Ace {Hardware} President and CEO, John Venhuizen. “I applaud our native Ace house owners for the tempo with which they’ve built-in our digital efforts with our bodily property. Seventy p.c of Acehardware.com orders are picked up in retailer and 20% are delivered to prospects by our personal crimson vested heroes, thus additional advancing the relevance and necessity of our neighborhood shops.”

Ace operates greater than 5,600 domestically owned {hardware} shops in all 50 states and 70 international locations, with international gross sales topping $20 billion. Ace’s distinctive cooperative enterprise mannequin provides native entrepreneurs not solely the power to turn out to be house owners of their native retailer operation, but additionally certainly one of a restricted variety of shareholders of Ace {Hardware} Company.

Ace has opened greater than 840 shops up to now 5 years, whereas disbursing dividends of $314 million in 2021—a 42.7 p.c return for Ace shareholders.

Ace {Hardware} has earned a number of business accolades this yr, together with being awarded the JD Energy Award for Finest in Buyer Satisfaction with Residence Enchancment Retailers for the 15^th time in 16 years, being ranked #1 in its class on Entrepreneur’s 2022 Annual Franchise 500 listing, and rating 4^th among the many high 200 largest franchise methods primarily based within the U.S., in accordance to Franchise Occasions.

About Ace {Hardware}

Ace {Hardware} is the most important retailer-owned {hardware} cooperative within the world with greater than 5,600 domestically owned and operated {hardware} shops in roughly 70 international locations. Headquartered in Oak Brook, IL, Ace and its subsidiaries function an expansive community of distribution facilities within the U.S. and have distribution capabilities in Ningbo, China; Colon, Panama; and Dubai, United Arab Emirates. Since 1924, Ace has turn out to be part of native communities around the globe and referred to as the place with the useful {hardware} of us. For extra data, go to acehardware.com or newsroom.acehardware.com.

Contact: Jeff Gooding [email protected]

SOURCE Ace {Hardware} Company