Ace Hardware Franchise News

Lexington Life Magazine Bestows Honor on Local Store
January 31, 2012 // Franchising.com // WEST COLUMBIA, S.C. – Lexington Life magazine has solidified Three Fountains Ace Hardware’s standing as the local “helpful place” by recognizing it as the “Best Hardware Store” in the area. The store received this honor based on readers’ votes in the “2012 Best of Lexington Life” poll.
“I credit our entire team for receiving this impressive award,” said Terry Reynolds, owner of Three Fountains Ace Hardware. “Every day our employees come to work and get great joy out of providing excellent customer service to everyone who walks in the door. That, coupled with our vast product knowledge, has really cemented our place in the community as the go-to hardware store...

November 04, 2011 // Franchising.com // OAK BROOK, Ill. – Ace Hardware Corporation is ranked the sixth largest franchise operation in the world in the recently released 2011 Franchise Times Top 200TM Franchise Systems list. The largest retailer cooperative in the convenience hardware industry, Ace Hardware has held a position in the top six each year since its debut on the list in 2005.
The 12th annual compilation of the list ranked Ace sixth based on its retailers annual worldwide retail sales in 2010, estimated to be $12.5 billion. Ranking ahead of Ace in the top six are other household names that include McDonald’s, 7-Eleven, KFC, Subway and Burger King. Ace is the only hardware/home improvement retailer on the list.
“To be consistently ranked in the top six by Franchise Times is a testament to Ace’s ability to year-after-year attract new investors and motivate current retailers to open additional stores,” said Kane Calamari, vice president of retail operations and new business for Ace Hardware...

Company to Hire up to 75 New Full-time Employees
September 29, 2011 // Franchising.com // OAK BROOK, Ill. – Ace Hardware Corporation has selected Suffolk, Va., for the company's new 336,000-square-foot Import Re-Distribution Center (RDC). The facility will allow the nation's leading hardware cooperative to reduce import and logistics costs and provide an even higher level of service to East Coast retailers, making it possible for Ace stores to more effectively respond to consumer needs dictated by hurricanes and other weather emergencies in the region.
Ace will be the first tenant to occupy space in the 900-acre CenterPoint Intermodal Center, located at 1006 CenterPoint Drive, which can accommodate up to 5.8 million square feet of industrial facilities...

September 02, 2010 // Franchising.com // OAK BROOK, Ill., - The J.D. Power and Associates 2010 Home Improvement Retail Store Satisfaction Study(SM) again ranked Ace Hardware the "Highest in Customer Satisfaction among Major Home Improvement Retail Stores" for the fourth consecutive year.

The cooperative's nationwide network of 4,500 stores has once more demonstrated its top-notch customer satisfaction, driven by Ace's heritage of meeting and exceeding customer needs for more than 85 years.

"Each of our retailer-owned stores takes great pride in the message of helpfulness that we champion," said Ray Griffith, president and CEO of Ace Hardware. "Studies like this show that Ace is truly 'the helpful place' and that we're making a positive impact on our customers everyday...

For the first time Craftsman will sell directly to new retail channel to improve customer accessibility and convenience July 14, 2010 // Franchising.com // Oak Brook, Ill./Hoffman Estates, Ill. – Craftsman, America's most trusted tool brand, will now be sold through Ace Hardware stores. In May, approximately 100 Ace stores will begin selling Craftsman products.

Under the first phase of the agreement, qualifying Ace stores will be able to sell the Craftsman brand including hand tools, portable power tools, compressors, wet/dry vacs and tool storage. As the number one tool brand in America, Craftsman continued to increase its popularity in 2009 among Americans who want to take on DIY projects with tools they can trust to get the job done...

Hardware Cooperative Ranks 10th in 3rd Annual List July 14, 2010 // Franchising.com // OAK BROOK, Ill. – Ace Hardware has again been named one of Bloomberg BusinessWeek's top "Customer Service Champs." Ace earned the 10th spot on the list for the third consecutive year, further confirming its moniker as "the helpful place." The ranking will be published in the March 1 edition of the magazine.

Ace is the only home improvement retailer to place in the top 10 on the 2010 list. L.L. Bean ranked first. To qualify, each company must have at least $1 billion in annual revenue.

"Our stores have always provided top-notch service to their customers," said Ray Griffith, president and chief executive officer of Ace Hardware Corp...

May 27, 2010 // Franchising.com // OAK BROOK, Ill. – Strengthening its reputation as a truly global "Helpful Place," Ace Hardware recently appointed a new president and general manager of Ace International to oversee worldwide growth initiatives. The announcement coincides with the renewal of two major licensing agreements in Southeast Asia that further reinforce the leading hardware cooperative's presence in Indonesia and Malaysia.

New President

Bob Moschorak joins Ace after holding senior leadership positions at several global companies. He previously served as managing director of Midas International in Madrid, chief operating officer of automotive retailer Aurgi in Spain, managing director of franchise development at Bally Total Fitness and vice president of the retail network at Serta International...

VIENNA, Va., May 26 /PRNewswire/ -- Ace Hardware Corporation, the largest retailer-owned cooperative in the home improvement industry, has enhanced the new member sign-in process in its customer loyalty program by partnering with TARGUSinfo, the leading provider of On-Demand Insight(SM) about prospects and customers.

Customers who join the Ace Rewards loyalty program receive an Ace Rewards Card at the point of sale and immediately begin accumulating points for rewards and special offers. More than 700 Ace stores easily enroll new Ace Rewards members by asking for their phone number and using On-Demand Identification(SM) services from TARGUSinfo to instantly and automatically capture complete contact information for each new member...

Hardware Cooperative Ranks 10th in 3rd Annual List March 03, 2009 // Franchising.com // Oak Brook, Ill., – Ace Hardware has earned its moniker as the "helpful place," according to BusinessWeek's "Customer Service Champs" ranking published in the March 2 edition of the magazine. Ace earned the 10th spot on the list for the second year in a row.

Ace is the only home improvement retailer in the top 10 on the 2009 list. Amazon.com ranked first. To qualify, each company must have at least $1 billion in annual revenue.

"Our retailers have always provided top-notch service to their customers," said Ray Griffith, president and chief executive officer of Ace Hardware Corp. "These entrepreneurs have the support and strength of a strong national brand while localizing their businesses to meet the needs of the community...

Former Skil President Surane to Assume Lead Merchandising Role Oak Brook, Ill., – Leading hardware cooperative Ace Hardware Corporation has appointed Lori Bossmann, a 23-year Ace veteran, to vice president, supply chain planning. The company has hired John Surane to fill Bossman's role as vice president, merchandising/advertising/marketing, effective March 30.

In her new position, Bossmann, 48, will oversee integration and efficiencies of the supply chain, merchandising and finance areas. She will work closely with officers in charge of the various departments, including Dan Prochaska, vice president, supply chain logistics. The inventory management group will report to Bossmann.

"Lori brings years of experience in a wide range of departments to this newly created position," said Ray Griffith, president and chief executive officer of Ace Hardware Corp...

OAK BROOK, Ill., Dec. 23 /PRNewswire/ -- Ace Hardware urges families to pay special attention to home safety this holiday season. Safety is a year-round concern and is especially critical during the holidays when friends and family visit.
1. Set Up a Proper Security System A professionally installed security system is a great way to feel safe at home, not only when the family is there, but when traveling during the holidays. A system can be installed for less than $1,000. Studies have shown that security systems and well-lit homes deter criminals.
2. Install Smoke and Carbon Monoxide Detectors These two inexpensive devices save lives, especially during this season when Christmas lights and candles are lit for long periods. There should be one smoke detector and one carbon monoxide detector or a combination unit on every floor of the home, especially near bedrooms...

Ziegler Succeeds Glenn as Chairman of the Board at Annual Shareholders Meeting

June 06, 2008 // Franchising.com // OAK BROOK, Ill. – Ace Hardware Corporation, the largest retailer-owned hardware cooperative in the industry, elected three new directors and re-elected one director to its board of directors during an annual shareholders meeting on June 3 at its Oak Brook, Ill., headquarters. Ace retailers Jim Ackroyd and Gina Schaefer were elected to their first terms, and Jeff Schulein, also an Ace store owner, was re-elected to the board for his third and final term. Jeffrey Girard was elected to his first term as the board's second nonmember (outside) director, currently.

A total of 12 individuals, including 10 retailers and two outside directors, comprise the board of directors, which sets strategic policy and direction for Ace management...

Total revenues of $872.1 million in the first quarter of 2008
Reported net income of $10.8 million
Adjusted EBITDA of $31.2 million increased $2.1 million over 2007
Ace successfully completed new senior debt facilities

May 29, 2008 // Franchising.com // Oak Brook, Ill. – Ace Hardware Corporation, the world's largest retailer-owned hardware cooperative, today reported net income of $10.8 million for the first quarter of 2008, which was a decrease of $3.3 million, as compared to the $14.1 million for the first quarter of 2007. After excluding certain non-recurring and unusual items, the company also reported Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization expenses) of $31...

Celebration, Fla.'s ACE Hardware now offering biodegradable automotive performance and appearance products from Green Earth Technologies

STAMFORD, Conn.--(BUSINESS WIRE)--ACE Hardware in Celebration, Fla. is officially the place for green. Green Earth Technologies (Pink Sheets:GETG) today announced this location of the trusted, national retailer of equipment for the home, garden, and garage will be the first to carry Green Earth's line of biodegradable automotive appearance and performance products. Consumers can now find the following on the shelves in the 20,000 sq.-ft. store: G-OILTM API TC Rated 2-Cycle Engine Oil; G-WASHTM Car Wash; G-GLASS™ Organic Glass Cleaner, Anti-Fog, and Hydrophobic Rain Repellent; G-WHEELTM Wheel Cleaner, and Brake Dust Shield; G-TIRETM Ultimate Tire Shine; and G-SCENTTM Odor Eliminator...

New Business, Strong International Sales Contributed to Revenue Growth

April 22, 2008 // Franchising.com // Oak Brook, Ill.– Despite the decline in the U.S. housing market and overall economy, Ace Hardware Corporation reported wholesale revenues of $3.97 billion for the year ending December 29, 2007, which was a $39.4 million, or 1.0 percent increase, over the $3.93 billion in wholesale revenues from the comparable period in 2006. This increase represents the sixth consecutive year of positive revenue growth for Ace, the largest retailer-owned cooperative in the home improvement industry.

The revenue increase was driven, in part, by the 171 new stores worldwide to join the Ace enterprise in 2007, as well as an increase in international revenues of $24...

New Chief Financial Officer Introduced to Retailers, Employees at Ace Convention in Dallas

March 07, 2008 // Franchising.com // Oak Brook, Ill. – Ace Hardware Corporation, the largest retailer-owned cooperative in the home improvement industry, has named Dorvin D. Lively chief financial officer, effective March 20, 2008.

Lively, 49, brings extensive financial and accounting experience to Ace from leading private and public retail corporations. He will oversee all financial-related activities of the company, including treasury, retailer financial services, general and operational accounting, budgeting and forecasting, tax, insurance, payroll and audit services.

"For nearly three decades, Dorvin Lively has been a proven leader in the field of finance and accounting, directing teams in high-growth environments," said Ray Griffith, Ace's president and CEO...

March 04, 2008 // Franchising.com // Oak Brook, Ill. – Ace Hardware Corporation reported that it has successfully restated its previously issued financial statements for the fiscal years ended 2006, 2005 and 2004. The restatement was primarily the result of the discovery of an inventory accounting error, which the company announced in September 2007.

The restatement includes the correction of the inventory accounting error which reduced 2006, 2005 and 2004 net earnings by $18.9 million, $19.3 million and $33.5 million, respectively. Additionally, the company also recorded other out of period adjustments and reclassifications in the restatement of its financial statements. Measures are being taken to restore the company's equity, which include the establishment of variance allocation accounts for Ace's stockholders, its independent store owners...

September 06, 2007 // Franchising.com // OAK BROOK, ILL. – Ace Hardware Corporation announced today that, based on an internal review of certain financial reports and part of Ace's long-standing full disclosure policy, it discovered an error in the company's historical financial statements. Based on the most current information available, there is a difference between the company's 2006 general ledger balance (the company's primary method for recording financial transactions) and the perpetual inventory balance (actual inventory records) – that amounts to approximately $154 million. The final amount could be less, but will likely result in a restatement of the company's financial results. The error appears to have accumulated over a minimum of five years...

Retailer Backs Promise of Helpfulness Every Day

OAK BROOK, Ill. (August 8, 2007) – "The helpful place" is not just a clever marketing tagline; it's the way Ace Hardware approaches customer satisfaction every day. And, thousands of homeowners clearly like what they experience. The nationwide network of 4,600 stores recently ranked the "Highest in Customer Satisfaction among Major Home Improvement Retail Stores", according to the J.D. Power and Associates inaugural 2007 Major Home Improvement Retail Store Satisfaction StudySM.

Ace's success has been driven by its heritage of helpfulness, meeting and exceeding customer needs for more than 80 years. "It's an honor to receive such a prestigous and respected recognition," stated Ray Griffith, president and CEO for Ace Hardware Corp...