Ace Hardware finished the year with a mixed fourth quarter, during which the hardware co-op sales-reporting retailers combined for a slight dip in U.S. comps.
Ace posted net income of $44.2 million versus $53.8 million in the year-earlier quarter.
The 3,900 Ace retailers who share daily sales data with the company reported a 0.1% decrease in U.S. retail comparable sales, the result of a 1.9 % decline in comp transactions partially offset by a 1.8% increase in average ticket.
Revenue was $2.51 billion, up 9.9% from the year-before quarter, the company reported. Fiscal 2025 consisted of 53 weeks versus 52 weeks in the year previous. With the 53rd week excluded, fourth quarter revenues increased 4.7% from the 2024 period, the company reported.
Wholesale revenue was $2.29 billion, up 10% from the prior-year fourth quarter. Most departments enjoyed increases with lawn and garden, power tools, bulbs and batteries, and hardware showing the largest gains.
Retail revenue was $221.5 million versus 202.4 million in the year-past quarter.
Full year net income was $293.4 million versus $314.1 million in the year earlier.
Revenue was $10.04 billion, up 5.8% from the year before or 4.6% excluding the 53rd week, according to Ace. Wholesale revenue was $9.16 billion, up 5.7% from the year prior. Retail revenue was $884.6 million versus $825.4 million in the year past.
In announcing the financial results, John Venhuizen, Ace president and CEO, said, “With record revenue, record shareholder dividends and a 40% 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.”
