Ace Hardware reaches 5,000 U.S. locations; will open 200 new stores in 2024
Ace Hardware has reached a milestone both in its total and year-to-date store counts.
The Oak Brook, Ill.-based hardware retailer, which is celebrating its 100th year in business this year, has opened its 100th new store for the calendar year, in Henderson, Nev. Overall, Ace plans to open more than 200 new stores by the end of the year.
In the first six months, Ace Hardware opened 111 new stores – a record-breaking feat for the retailer. A new store, Fixit Ace Hardware in Roswell, Ga., is recognized as Ace's 5,000th domestic location.
Globally, Ace has opened more than 900 new stores in the past five years, including 203 last year, while disbursing dividends of $357 million and providing a 35% return for Ace shareholders in 2023.
[READ MORE: Ace Retail Holdings to expand Midwest footprint]
"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."
Ace says its new store growth has been fueled by existing retailers opening additional locations, competitor stores converting to Ace and new investors opening their first Ace Hardware store. It added that Interest in owning and operating a local Ace Hardware store continues to be at “historically high levels.”
Ace Hardware is the largest retailer-owned hardware cooperative in the world with over 5,800 locally owned and operated hardware stores in approximately 60 countries. Ace and its subsidiaries operate a network of distribution centers in the U.S. and have distribution capabilities in Ningbo, China and Cuautitlán Izcalli, Mexico.
