September 28, 2016 5:57 PM ET

Specialty Retail

Company Overview of Ace Hardware Corporation

Company Overview

Ace Hardware Corporation operates as a wholesaler of hardware, paint, and other related products worldwide. The company offers electrical, plumbing, and lawn and garden power equipment, as well as paints and solvents, and hand tools. It also provides value-added services, such as advertising, marketing, merchandising, and store location and design services to its retail members. The company sells its goods and services primarily to retailers that operate hardware stores; and to retailers with a retail membership agreement in the United States. In addition, it distributes hardlines products for independent lumber, paint, industrial, and hardware outlets in the Pacific Northwest. Further, the ...

2200 Kensington Court

Oak Brook, IL 60523

United States

Founded in 1924

Phone:

1866 290 5334

Key Executives for Ace Hardware Corporation

Chief Executive Officer and President
Age: 46
Chief Financial Officer, Chief Risk Officer and Executive Vice President
Age: 56
President of East Tennessee and Northwest Georgia
Age: 57
Vice President, General Counsel and Secretary
Age: 63
Executive Vice President of Supply Chain and Retail Support
Age: 55
Compensation as of Fiscal Year 2016.

Ace Hardware Corporation Key Developments

Ace Hardware Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 2, 2016

Ace Hardware Corporation reported unaudited consolidated earnings results for the second quarter and six months ended July 2, 2016. For the quarter, total revenues were $1,426.2 million against $1,417.5 million a year ago. Increases were noted across many departments with outdoor living, paint and lawn and garden showing the utmost gains. Operating income was $67.3 million against $69.2 million a year ago. Net income attributable to company was $63.2 million against $57.5 million a year ago. For the six months, total revenues were $2,663.0 million against $2,603.6 million a year ago. Operating income was $96.1 million against $101.1 million a year ago. Net income attributable to company was $89.2 million against $87.4 million a year ago. Net cash provided by operating activities was $185.3 million against $66.4 million a year ago. Purchases of property and equipment were $30.5 million against $16.8 million a year ago.

Ace Hardware Corporation Elects Kristin Grunder to its Board of Directors

Ace Hardware Corporation announced that it has elected Kristin Grunder to its board of directors. Grunder is the president and co-owner of Rome Ace Hardware. Grunder currently serves on numerous company' committees, including an input team that influences decisions surrounding company's paint business, she also serves as an Ace Retail Group Leader. Grunder serves on the board of directors of the Rome Hospital Foundation and as a member of the board of trustees of the Jervis Library.

Ace Hardware Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended April 2, 2016

Ace Hardware Corporation announced unaudited consolidated earnings results for the first quarter ended April 2, 2016. For the quarter, the company reported total revenues of $1,236.8 million against $1,186.1 million a year ago. Operating income was $28.8 million against $31.9 million a year ago. Net income attributable to Ace Hardware Corporation was $26.0 million against $29.9 million a year ago. Net cash used in operating activities was $4.9 million against $71.5 million a year ago. Purchases of property and equipment were $12.7 million against $8.3 million a year ago. This decrease of $3.8 million in net income from the first quarter of 2015 was a planned reduction due to the timing of promotions.

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