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Ace Hardware beats True Value in Q2
On the heels of an impressive financial report from rival True Value, Ace Hardware is reporting even better sales in its second quarter.
For the quarter ended July 4, Ace Hardware Corp. had record revenue of $1.4 billion in the second quarter, an increase of 6.5% from last year. Ace’s retail same-store-sales reported by approximately 3,000 Ace retailers who share daily retail sales data increased 6.5% and Ace Retail Holdings LLC rose 4.7% due to an increase in customer count and average transaction size.
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Expenses nail Ace profit in Q2
Oak Brook, Ill. – Increased retail operating expenses, primarily related to store acquisitions and advertising, helped reduce profit at Ace Hardware Corp. during the second quarter of fiscal 2015. Net income totaled $57.5 million, a 13% drop from $66.5 million the same quarter a year earlier.
Consolidated revenues fared better, rising 6% to $86.2 billion from $84.8 billion.
JG: There are many factors that go into a store remodel, and paint is one that is generally seen as a wholly separate line item in the construction specs. And with paint, the first thing people tend to think about is the cost of the paint itself.
