Ace Hardware Gains In Q4, Fiscal Year

Ace Hardware Corporation reported total revenues for the fourth quarter of 2015 as $1.2 billion, an increase of $2.4 million or 0.2% from the previous fourth quarter. 

Net income was reported as $12.1 million for the fourth quarter 2015 compared to $12.7 million in the fourth quarter 2014.

Total fiscal 2015 revenues were reported as $5 billion, an increase of $344.5 million or 7.3% from fiscal year 2014. Net income was reported at $156.2 million, an increase of 10.5% from last year. Retail revenues from Ace retail holdings were $251.7 million during fiscal 2015, an increase of $17.9 million or 7.7%.

The company also reported that 3,000 approximate Ace retailers saw a 4.6% same store sales increase in 2015. Same store sales at these stores were up 3% for the fourth quarter of fiscal 2015. 

Ace also added 158 domestic stores in fiscal 2015 and cancelled 98 stores. This brought the company’s total domestic store count to 4,311 at the end of fiscal 2015, an increase of 60 stores compared to the end of fiscal 2014. 

John Venhuizen, president and CEO, Ace Hardware, said, “I’m honored to report the third consecutive year of record financial performance for the company. My sincere gratitude to the team for delivering shareholders an impressive pre-tax return on equity of 33%.”