Oak Brook, Illinois-based Ace Hardware Corporation reported “record” 2021 fourth-quarter revenues of $2.1 billion — an increase of 0.7% over the same quarter a year ago — while total year-end revenues topped $8.6 billion. The year-end revenues were 10.7% above 2020.
Full-year 2021 net income reached $330 million, an increase of 4.1% on top of last year’s increase of 125.7% increase, the company said.
Ace also reported a record patronage dividend to shareholders of $314.4 million, an increase of 7.3% in addition to last year’s increase of 60.8%.
“In comparison to 2019, total revenue increased 38.6% and net income is up 129.8%,” said John Venhuizen, Ace president and CEO. “This transformational surge in business is driven by two-year stacked comp growth of 34.4%, digital growth of 279%, and the opening of 407 new stores globally over two years. My sincere thanks and gratitude to our helpful heroes to whom all the credit goes for serving so well in a very difficult environment.”