Ace Hardware Corporation has reported total fiscal 2013 revenues of $4.2 billion, an increase of $313.3 million or 8.2%. Net income was $104.5 million for fiscal 2013, an increase of $22.7 million or 27.8%, compared to $81.8 million in fiscal 2012.
Total revenues for the fourth quarter of 2013 were $1 billion, an increase of $110.5 million or 12.1% from 2012. Net income was $23.4 million for the fourth quarter of 2013, an increase of $1 million or 4.5% from the $22.4 million earned in 2012.
“2013 was a record year for the company,” said John Venhuizen, Ace president and chief executive officer. “We outperformed our operating plan, exceeding $4 billion in consolidated revenues and $100 million in net income for the first time in our history. These achievements were the result of the hard work and perseverance of our retailers coupled with the support and dedication of our employees.”
“Ace retailers also had a very good year,” continued Venhuizen. “Comparable store retail sales were up 3.5% in the fourth quarter and up 4.3% for the year, with 75% of retailers surveyed reporting record net profits.”