Ace Hardware grows 4%, cites outdoor power equipment contribution
On May 14, Ace Hardware Corporation reported its Q1 2025 financial results (for the quarter ended March 29), showing revenues of $2.2 billion, an increase of 4.2 percent compared Q1 of 2024. Total wholesale revenues were $2.1 billion, an increase of $75.1 million, or 3.8 percent, as compared to the prior year first quarter. Increases were seen across many departments with lawn and garden, outdoor power equipment and grilling showing the largest gains.
“A 35 percent increase in our digital business, 0.6 percent same-store-sales growth from stores in the hardware format, and 45 new domestic stores highlighted our record first quarter revenue,” said John Venhuizen, president and CEO.
The approximately 3,900 Ace retailers who share daily retail sales data reported flat U.S. retail same-store-sales during the first quarter of 2025, which was the result of a 1.1 percent increase in average ticket; offset by a 1.1 percent decrease in same-store transactions.
Wholesale merchandise revenues to new domestic Ace stores activated from January 2024 through March 2025 contributed $66.8 million of incremental revenues during the first quarter of 2025, while wholesale merchandise revenues decreased $7.8 million during the first quarter due to domestic Ace stores whose memberships were cancelled.
Ace added 45 new domestic stores in the first quarter of 2025 and cancelled 12 stores. This brought the Company’s total domestic store count to 5,177 at the end of the first quarter of 2025, an increase of 112 stores from the first quarter of 2024.
Tariffs
Recent tariffs imposed by the U.S. on companies worldwide will increase the company’s cost of goods. Ace said it intends to pass these increased costs through to its customers and expects that its customers will pass these increased costs through to retail consumers. At this time, the company is unable to determine the impact that this will have on its revenues, results of operations and financial condition.
