Ace Hardware, the largest retailer-owned hardware cooperative in the world, has already opened over 100 new stores in 2023, and is planning to open more than 170 by the end of the year.
Globally, Ace has opened more than 1,100 stores in the past five years, while disbursing dividends of $345 million and providing a 39 percent return for Ace shareholders in 2022.
Ace operates more than 5,800 locally owned hardware stores in all 50 states and 60 countries, with global sales topping $22 billion. Ace’s unique cooperative business model offers local entrepreneurs not only the ability to become owners of their local store operation, but they also become one of a limited number of shareholders of Ace Hardware Corporation.
“With over 100 new stores already opened for the year, we remain enthusiastically bullish about the continued prospect for new store growth, “said Ace Hardware President and CEO, John Venhuizen. “I applaud our local Ace owners for the pace with which they’ve integrated our digital efforts with our physical assets. Seventy percent of Acehardware.com orders are picked up in store and 20% are delivered to customers by our own red vested heroes, thus further advancing the relevance and necessity of our neighborhood stores.”