Double-digit growth at Ace

The US cooperative Ace Hardware has reported a good third quarter (ended 1 October 2011) with sales growth of 10.6 per cent to US$912.0 mio. The increase in sales over the first three quarters was 4.3 per cent to US$ 2.787 bn. In comparable store sales, the cooperative’s central office increased its wholesale sales to domestic retailers by 8.9 per cent in the third quarter. International business grew by 21.3 per cent, attributable primarily to higher sales to retailers in the Middle East. 35 new stores were added in the third quarter and 46 cancelled, bringing the total number of stores in the cooperative worldwide to 4 424.