Ace Hardware earnings and revenues advanced during the third quarter with the cooperative posting net income of $100.2 million versus $99.2 million in the year-earlier quarter.
The approximately 3,900 Ace retailers that share daily retail sales data with the company reported a 1.6 % comparable sales gain in the United States during the third quarter, the result of a 2% increase in average ticket partially offset by a 0.4% decrease in comp transactions.
Revenues were $2.48 billion versus $2.35 billion in the year-previous quarter. Ace wholesale revenue was $2.27 billion, and retail revenue was $213.1 million versus $2.15 billion and $203.4 million, respectively, in the year-before period. Operating income was $106.9 million versus $105 million in the quarter a year past.
John Venhuizen, Ace president and CEO, noted a 5.5%year-over-year increase in revenue, the 1.6 % increase in same-store sales and a 34.9% surge in digital business.
