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Construction Tech Review | Monday, September 23, 2024
Ace will honor its 100th anniversary in 2024 with ongoing events and creative product launches, such as Loud Mouth™ Barbeque, a line of barbeque sauces and seasonings, and Ace Vintage Threads, a range of clothes featuring Ace logos from 1924.
FREMONT, CA: Ace Hardware, the world's biggest retailer-owned hardware cooperative, is thrilled to celebrate its 100th anniversary in 2024. This milestone will be highlighted by the opening of its 100th new shop for the calendar year and its 5,000th domestic location. Overall, Ace intends to open around 200 new locations before the end of the year.
"I'm so proud to announce our 100th new store opening of the year in the 100th anniversary of the company," said Ace Hardware President and CEO, John Venhuizen. "This serendipitous symmetry is a beautiful testament to the enduring relevance in our faith that human connection and a servant heart is not the enemy of a successful business, it's the enabler."
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Ace Hardware opened 111 new locations in the first six months, setting a new company record. Last month, the retailer opened its 100th new shop of the year in Henderson, Nevada. One of these new stores, Fixit Ace Hardware in Roswell, Georgia, is also Ace's 5,000th domestic outlet. Ace has opened almost 900 new stores globally in the last five years, including 203 last year, while paying out $357 million in dividends and providing a 35 percent return to stockholders in 2023.
Ace's recent store expansion has been fueled by current retailers opening new locations, rival businesses making the switch to Ace, and new investors launching their first Ace Hardware stores. There continues to be significant interest in owning and operating a local Ace Hardware business. With more than 5,800 individually owned hardware stores spread throughout 60 countries and all 50 states, Ace has more than $22 billion in annual sales. Ace's unique cooperative business model allows local entrepreneurs to control their local store and become one of Ace Hardware Corporation's limited number of shareholders.
Ace will honor its 100th anniversary in 2024 with ongoing events and creative product launches, such as Loud Mouth™ Barbeque, a line of barbeque sauces and seasonings, and Ace Vintage Threads, a range of clothes featuring Ace logos from 1924.
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