Ace Hardware Moves Forward With Store Growth Plans

Ace Hardware is moving forward with its store expansion plans and will open more than 170 additional stores by the end of 2023.

The latest figures follow the more than 100 stores already opened this year, as of August 22. Globally, Ace has opened more than 1,100 stores in the past five years, while disbursing dividends of $345 million and providing a 39% return for Ace shareholders in 2022.

"With more than 100 new stores already opened for the year, we remain enthusiastically bullish about the continued prospect for new store growth, "said John Venhuizen, Ace Hardware president and CEO. "I applaud our local Ace owners for the pace with which they've integrated our digital efforts with our physical assets.”

Venhuizen noted 70% of Acehardware.com orders are picked up in store and 20% are delivered to customers.

According to the company, Ace's new store growth has been fueled by existing retailers opening additional locations, competitor stores converting to Ace and new Investors opening their first Ace Hardware store.  

Interest in owning and operating a local Ace Hardware store continues to be at historically high levels. More than 200 prospective new Ace retailers will attend the upcoming Ace Fall Convention, September 18-21, in Orlando.