Retail giant Ace Hardware has opened 110 stores since the start of 2021, and expects to open an additional 60 locations before the end of the year, according to a press release by the company. That growth is outpacing the company’s goals, according to Katie Heraty, an Ace spokesperson.
“To support our new store growth, numerous markets have been identified in each state,” Heraty said. “The 60 or more Ace stores still projected to open this year are geographically spread throughout the country in urban, suburban and rural communities.
“Most new Ace retailers open their businesses in the community in which they already live, and have seen the strong opportunity to integrate themselves further in the neighborhoods they already have deep knowledge of.”
More than 900 new Ace locations have opened around the world over the past five years, with shareholders receiving $293 million in dividends in 2020, according to the release.
A 2018 survey by Market Force Information named Ace the most popular home improvement retailer in the U.S., ahead of other major competitors like The Home Depot and Lowe’s. Ace’s score of 68 percent put it 11 percentage points ahead of runner-up Menards.
Ace, founded in 1924 in Chicago, Illinois, is the largest retailer-owned hardware cooperative in the world. It boasts more than 5,500 stores in approximately 70 countries, according to the company’s release. Find a searchable directory for your closest Ace location by clicking this link.
Article source here: Ace Hardware on Pace to Open 170 New Stores in 2021
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