Ace Hardware has been serving consumers in thousands of communities across the United States for almost 90 years, earning a reputation for providing a more personalized level of service.
After ten years in a row of being named “Highest in Customer Satisfaction with Home Improvement Retail Stores” by J.D. Power, Ace took the top spot in 2016. Ace is the largest retailer-owned hardware cooperative in the world, with more than 4,900 independently owned and run stores in more than 5,000 locations.
Shops carrying its products can be found in every state and the District of Columbia, as well as in over 60 different nations. Go to www.acehardware.com for more details on Ace.
Established in 1924 in Chicago, Illinois, Ace Hardware is a privately held American firm. In addition to E. Gunnard Lindquist and Oscar Fisher, the corporation was started by Frank Burke, Richard Hesse, and William Stauber.
The company’s name was changed in 1931 from Ace Stores to its current form, Ace Hardware. Following World War II, the firm began a period of rapid expansion that would see it triple in size by 1959. More than a billion dollars was made in sales in 1985.
Westlake Ace Hardware, the company’s largest franchisee, was purchased by Ace Hardware in 2012 for $88 million. The CEO and president, John Venhuizen, unveiled the 20/20 Vision. It’s a plan to improve customer service through increased utilization of network resources, the following year.
Ace Hardware has been recognized as having the “Highest in Customer Satisfaction with Home Improvement Retail Stores” for ten years. It began its retail distribution network in 2014 and 2015 by acquiring Emery-Waterhouse in Portland, Maine, and Jensen Distribution Services in Spokane, Washington.
Later that year, Ace established Emery Jensen Distribution, LLC to conduct wholesale business across the United States. Ace Wholesale Holdings LLC is a wholly-owned subsidiary of Ace Hardware Corporation that focuses solely on supplying independent shops that are not affiliated with Ace Hardware.
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Financial Turnover 2022
Compared to 2021, Ace Hardware’s first quarter of 2022 sales was a record high of USD 2.2 billion. An increase of USD 181.8 million, or 8.9 percent.
A total of USD 119.8 mn was earned in the first quarter of 2022. Up from USD 14 mn in the same period the year before. The majority of categories had increases in wholesale sales. With the highest increases being noted in the categories of outdoor power equipment, lawn and garden, and plumbing.
Ace Hardware Headquarter
Based in Oak Brook, Illinois, Ace Hardware Corporation is an association of independent hardware stores in the United States. Hardware Cooperative International is the largest retail cooperative in the world and the largest retail cooperative in the United States that does not sell groceries.
Established in 1924 under the moniker “Ace Stores,” the company rebranded as “Ace Hardware Corporation” in 1931.
After WWII, business boomed, and between the late 1940s and 1959, sales more than tripled. Richard Hesse, Ace’s longtime president retired that year, and the company was subsequently sold to its dealers, turning it into a cooperatively owned business.
In 1985, it reached $1 billion in wholesale sales, and in 2015, it hit $5 billion. As of early 2019, it operates over 5,200 outlets in 60 nations. There are currently 17 Ace distribution centers in the United States. The company and its affiliates have distribution facilities in Ningbo, China, Colon, Panama, and Dubai, United Arab Emirates, in addition to their headquarters in Oak Brook, Illinois.
Ace Is Set To Relocate Its Headquarters By 2023
The headquarters has been in Oak Brook, Illinois, since 1974; the firm has announced that it will relocate to The Reserve, a new campus that spans 80 acres and provides increased mobility, conveniences, and room to accommodate the company’s expansion.
A comprehensive interior refurbishment is planned for before Ace moves into its new space in the summer of 2023. This will result in a vibrant atmosphere that is true to Ace’s unique brand and culture.
After 30 years at the school, McDonald’s finally left in 2018. John Paul DeJoria, who helped develop the Paul Mitchell hair care company, purchased the building from him in 2019 for $40 million. Currently, it is referred to as Oak Brook Reserve when advertising to prospective renters.
Ace’s roughly 1,100 Oak Brook-based employees will now all be under one roof, fostering a stronger sense of community and increasing opportunities for cooperation.
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