Ace Hardware posts record net income in 2004; plans new DC in Washington.(Newsmakers: reporting on the industry)

Do-It-Yourself Retailing, April, 2005

Ace Hardware Corp. concluded its 80th anniversary milestone in 2004 with record net earnings for the second consecutive year. The co-op reported net earnings of $101.9 million on consolidated wholesale sales of $3.29 billion in 2004. Wholesale sales in 2004 increased by $129.4 million, or 4.1 percent, over the previous year. Net income was $1.2 million, or 1.2 percent, higher than 2003 and trailed the sales increase due to significant investments at retail.

The total Ace retailer return for 2004 is $174.5 million, including $100.3 million in patronage dividends and $60.1 million in upfront dividends. For the first time, Ace will also return $14.1 million to nearly 1,900 high-performing retailers who achieved all of the brand, merchandising and customer service...

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