Ace Hardware is on an expansion tear; the retailer just marked the opening of its 105th new store this year and said it expects to add at least 60 more by the end of 2022. The new locations join the more than 5,600 stores already in operation across all 50 states and 70 countries.
To keep pace with this growth, Ace also is expanding its distribution network to house more inventory closer to its growing number of stores. The company said it will add 4.4 million square feet of capacity to its distribution network by opening three new warehouses in the next five years. That’s in addition to the more than 2.5 million square feet that the company has added over the past four years.
Ace Hardware operates under a retailer-owned cooperative model in which local entrepreneurs own their local store operation and become part of a limited number of shareholders of Ace Hardware Corporation.
“We remain enthusiastically bullish about the continued prospect for new store growth, “said Ace Hardware President and CEO John Venhuizen 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 by our own red-vested heroes, thus further advancing the relevance and necessity of our neighborhood stores.”