Ace same-store sales down, average ticket up

On Feb. 12, Ace Hardware reported its financial results for the fourth quarter and full year of 2024. Ace reported, for Q4 2024, revenues of $2.3 billion, an increase of $162.2 million or 7.6% from the fourth quarter of 2023. Its full-year revenues were $9.5 billion, an increase of $360.3 million or 3.9% over 2023.      

The approximately 3,700 Ace retailers who share daily retail sales data reported a 1.6% increase in U.S. retail same-store-sales during Q4 of 2024. Ace said that came from a 1.9% increase in average ticket, partially offset by a 0.3% decrease in same-store transactions. For the full year, U.S. retail same-store-sales decreased 0.3%, which was the result of a 1.5% decrease in same-store transactions partially offset by a 1.2% increase in average ticket.    

“Strong comparable store sales during the fourth quarter from our hardware format stores, accelerated new store growth, and our continued digital advance fueled a very encouraging 7.6% increase in revenue for the quarter,” said John Venhuizen, president and CEO. “With record revenue, record shareholder dividends, record contributions to the Ace Foundation, and nearly a 39% pre-tax return on shareholder equity, the Ace team is to be commended for the discipline, productivity, and stewardship with which they managed our resources and opportunities.”

Ace added 215 new domestic stores in fiscal 2024 and cancelled 65 stores. This brought the company’s total domestic store count to 5,144 at the end of fiscal 2024, an increase of 150 stores from the end of fiscal 2023. On a worldwide basis, Ace added 230 stores in fiscal 2024 and cancelled 134, bringing the worldwide store count to 5,966 at the end of fiscal 2024.