Ace recruits members in South Dakota
Four South Dakota hardware stores have joined Ace Hardware, the Oak Brook, Ill.-based co-op announced recently.
The stores, owned by John Niederauer, are located in the South Dakota cities of Dell Rapids, Miller, Redfield and Tea. All four stores underwent the transformation in mid-August.
“For decades we’ve been a part of this community, helping residents find the right products, supplies and tools for their homes and gardens," Niederauer said. “We felt Ace’s ‘helpful place’ identity fit perfectly with what we’re doing here every day."
Previously, the stores carried the True Value banner.
True Value and Husqvarna host demo day
True Value Co. and Husqvarna completed their first southeast regional Rental Demo Day event, held earlier this month at BullHorn Ranch in Liberty, N.C.
More than 100 suppliers, rental operators and their associates participated in the event, kicking off the buying season and demonstrating a renewed interest in the industry despite the challenging economy, according to the companies.
“The most worthwhile aspect of the Demo Day was seeing the equipment in action,” said Edwin Scott, CEO of TCS Event Rentals in Burlington, N.C. “I asked for feedback from other rental operators and tested out the machinery. Even though I had no intention of buying anything, I wound up spending $40,000 on six new pieces of equipment.”
Participating suppliers introduced the newest features of their 2011 to 2012 fleet, leveraging the expansive amount of land to demonstrate large digging and earth-moving equipment. Rental operators sought out the opportunity to not only check out the latest in rental products, services and technology, but to also network and exchange ideas with other rental businesses.
“I took full advantage of the hands-on experience with suppliers that I regularly use — it was fantastic,” said Roger McArver, president of Gaston Rentals in Gastonia, N.C.
Double-digit sales growth for Ace in Q3
Oak Brook, Ill.-based Ace Hardware Corp. reported total revenues of $912.0 million for the third quarter of 2011, an increase of 10.6% from 2010.
“Our third-quarter results reflect revenues and net income that were higher than both last year and our plan,” said Ray Griffith, Ace president and CEO. “We are pleased with the results from our strategic initiatives, such as Craftsman and Clark+Kensington paint and primer, during the current year. These strategic initiatives provide a solid platform for future long-term growth.”
For the nine-month period ended Oct. 1, total revenues were $2.787 billion, an increase of 4.3% from 2010.
Net income was $17.0 million for the third quarter of 2011, up 22.9%. For the nine-month period, net income was up 7.2% to $58.5 million.
Merchandise sales to comparable domestic stores increased 8.9% in the third quarter of 2011 compared with the prior year. During the third quarter, the company had an increase in sales from new domestic stores of $18.0 million. This increase was partially offset by a decrease in sales due to domestic cancellations of $11.0 million.
Ace added 35 new stores and canceled 46 stores in the third quarter and ended the quarter with a total domestic and international store count of 4,424.