Ace expresses year-to-date growth
Ace Hardware Corp. announced growth and plans for expansion in priority markets across the country.
“Our aggressive, long-term growth strategy features a total package of resources and support to ensure a successful future for our retailers,” said Mike Berschauer, director, retail development for Ace Hardware. “After a prosperous second quarter focused on store activations and conversions, Ace is on track to achieve its goal of opening 170 new domestic stores in 2012.”
Ace retailers opened 30 stores in the first quarter and 36 stores in the second quarter for a total of 66 new activations year to date, an 8% increase compared with 2011.
By region, Ace experienced 31 openings in the Midwest, Northeast and Atlantic Coast; 17 openings in the Southeast; and 18 openings in the West.
Store conversions also increased. To date in 2012, 31 retail locations have converted to Ace Hardware from competitive formats -- in comparison to 16 conversions in the first two quarters of 2011. A number of these openings and conversions are attributed to the launch of the Ace Hardware “Express” format, the co-op said.
The Express format is designed specifically for stores with 5,000 sq. ft. or less. To date, there are Express format Ace Hardware locations in seven states across the United States – including California, Kansas, Massachusetts, New York, North Dakota, Tennessee and Texas.