Ace Hardware posts record income.(Late News)(Brief Article)

Do-It-Yourself Retailing, March, 2004

ACE HARDWARE POSTS RECORD INCOME. Ace Hardware Corp. surpassed $100 million in net income for the first time in its history in 2003. The hardware retailing cooperative reported net income of $100.7 million, an increase of 22.7 percent over income of $82.1 million in 2002. Consolidated wholesale sales in 2003 were 53.2 billion, 4.3 percent greater than sales of $3.0 billion in 2002.

Ace's 2003 results include 53 weeks, while 2002 included 52 weeks. Ace also exceeded its 2003 goal of opening 1 million square feet of new retail space.