Ace Hardware took home "record" first quarter revenues of $1.2 billion in the first quarter, an increase of 4.3% over last year.
The message was a little more muddled for earnings. Though its first quarter net income of $26.1 million was down 12.7% year-over-year, that figure was still 12.0% ahead of plan. It was also a planned reduction owing to the timing of promotions.
Same-store sales received a boost of 2.2%, which was primarily the result of a 2.9% increase in average transaction size.. . . more