So far in 2023 Ace Hardware has opened 100 new stores. They plan to continue that pace through the end of the year, according to a press release, as they plan to open 170 stores total in 2023.
With over 100 new stores already opened for the year, we remain enthusiastically bullish about the continued prospect for new store growth. I applaud our local Ace owners for the pace with which they’ve integrated our digital efforts with our physical assets. Seventy percent of Acehardware.com orders are picked up in store and 20% are delivered to customers by our own red vested heroes, thus further advancing the relevance and necessity of our neighborhood stores.
John Venhuizen, President and CEO of Ace Hardware
Ace has opened more than 1,100 stores globally in the past five years. It brings their total store count to more than 5,800 in 50 states and 60 countries, with about 4,900 in the US.
Their new store growth has been fueled by existing retailers opening additional locations, conversions of competitor stores, and new investors opening their first location. Ace is holding the Ace Fall Convention, September 18-21 in Orlando, FL where it will host over 200 prospective new Ace retailers.
As a point of comparison, according to The Home Depot’s recent results they operate 2,326 stores in North America. Lowe’s has the lowest store count at around 1,700, from their last earnings release.