Retailer-owned cooperative Ace Hardware has opened more than 100 new stores this year and plans to push the total to 170 by the end of 2023. This rapid expansion pace follows last year’s impressive numbers: by August 2022 the retailer had added more than 100 stores, with plans for an additional 60 by that year’s end. Globally, Ace has opened more than 1,100 stores over the past five years and now operates 5,800 locations in approximately 60 countries.
The new store growth has been fueled by existing retailers opening additional locations, competitor stores converting to Ace and new operators/investors opening their first Ace Hardware store. More than 200 prospective new Ace retailers will attend the company’s fall convention Sept. 18-21 in Orlando, Fla. to hear about its products, services and operating methods.
“With over 100 new stores already opened for the year, we remain enthusiastically bullish about the continued prospect for new store growth,” said John Venhuizen, President and CEO of Ace Hardware in a statement. “I applaud our local Ace owners for the pace with which they’ve integrated our digital efforts with our physical assets: 70% of Acehardware.com orders are picked up in-store and 20% are delivered to customers from our own red-vested heroes, thus further advancing the relevance and necessity of our neighborhood stores.”