Ace Hardware Corporation announced on May 13 that it achieved record first quarter revenues of $2.5 billion, representing a 10.9 percent increase compared to the same period last year. Net income for the first quarter reached $70.1 million, up by $39.8 million from the previous year.
The company reported that these results were driven by growth across multiple departments, including outdoor power equipment, lawn and garden, and power tools. John Venhuizen, Chief Executive Officer of Ace Hardware Corporation, said, “Our record first quarter results reflect a simple truth: when we serve our neighbors with excellence and urgency, growth follows.” He continued: “Revenue up 10.9 percent, digital up 30 percent, and hardware format same-store sales up 6.1 percent with transactions rising 0.7 percent. Just as importantly, our team delivered a 129 percent increase in net income through strong growth and disciplined, judicious expense management, proof that being both fierce and frugal is still a winning formula.”
Approximately 4,000 Ace retailers who share daily retail sales data reported a U.S. retail same-store-sales increase of 4.9 percent during the first quarter of 2026 due to higher average ticket size and an uptick in transactions.
Wholesale revenues totaled $2.3 billion for the quarter ended April 4—a rise of $232.2 million or about eleven percent over last year—with notable increases attributed to new domestic stores as well as gains in key product categories.
Retail revenues from Ace Retail Holdings reached $185.8 million for the quarter—an increase of just over six percent from last year—while ARH operated nine more stores than at this time last year.
Gross profit improved on both wholesale ($305.8 million) and retail ($88.6 million) sides compared to the prior-year period; however retail gross margin percentage declined slightly while wholesale gross margin increased.
The company added thirty-five new domestic stores but cancelled nineteen during the reporting period; total domestic store count stood at five thousand two hundred sixty-six at quarter’s end—eighty-nine more than one year ago.
Looking ahead after posting these financial results alongside industry recognitions—including being ranked number one in home improvement customer service by Forbes for its Best Customer Service List in 2026—the company also accrued patronage dividends totaling $105.2 million.
