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Ace enjoys record year
Ace Hardware’s unique value proposition allowed it to withstand strong competition from Home Depot and Lowe’s in 2013 and grow annual sales by a 8.2% to a record $4.2 billion.
“We outperformed our operating plan, exceeding $4 billion in consolidated revenues and $100 million in net income for the first time in our history,” said president and CEO John Venhuizen.
Net income was $104.5 million for fiscal 2013, an increase of $22.7 million, or 27.8%, compared with $81.8 million in fiscal 2012.
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Study: Customer satisfaction up in specialty stores
Ann Arbor, Mich. - Customer satisfaction improved for a third consecutive year for retail. According to a report released by the American Customer Satisfaction Index (ACSI), the retail sector overall gained 1.7% to an ACSI benchmark of 77.9, boosted by higher customer satisfaction with specialty retail stores, supermarkets, drug stores, and gasoline service stations.