The Oak Brook, Illinois-based hardware retailer, Ace Hardware, which is celebrating its 100th year in business this year, has opened its 100th new store for the calendar year, in Henderson, Nevada.
As the company reaches 5,000 US stores, it plans to open more than 200 new stores by the end of the year. In the first six months of the year, Ace Hardware opened 111 new stores – a record-breaking feat for the retailer. A new store, Fixit Ace Hardware in Roswell, Georgia, is recognised 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 $357M and providing a 35 per cent return for Ace shareholders in 2023.
“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 fuelled 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”.
