Ace Hardware reports record third quarter 2022 revenues of USD 2.2 bn, an increase of 10.0 per cent compared with the third quarter of 2021. The approximately 3 600 Ace retailers who share daily sales data reported a 5.8 per cent increase in US retail same-store sales during the third quarter of 2022. Estimated retail inflation of 11.2 per cent helped drive the 9.5 per cent increase in average ticket, the company states. Same-store transactions were down 3.4 per cent.
Total retail revenues for the quarter were USD 193.4 mio, an increase of 2.3 per cent compared to the prior year third quarter. Retail revenues from Ace Retail Holdings were USD 192.1 mio in the third quarter of 2022, an increase of 3.8 per cent. This increase was primarily the result of the inflation driven same-store sales increase of 3.7 per cent at Westlake Ace Hardware and the new stores added by Westlake and Great Lakes Ace Hardware since the third quarter of 2021. These two companies together operated 216 stores at the end of the third quarter of 2022 compared to 209 stores at the end of the third quarter of 2021.
Ace added 35 new domestic stores in the third quarter of 2022 and cancelled ten stores. The company’s total domestic store count was 4 841 at the end of the third quarter of 2022 which was an increase of 82 stores from the third quarter of 2021. On a worldwide basis, Ace added 37 stores in the third quarter of 2022 and cancelled 15, bringing the worldwide store count to 5 682 at the end of the third quarter of 2022.