The big specialty store operation reported a 4.2 percent gain for the period, even as net income declined.
As an indicator of the strength of the DIY home improvement and remodeling sector, Ace’s results are encouraging in a retail environment that still remains challenging for the overall building business.
First quarter revenues were $2.2 billion, an increase of $89.4 million over the same period a year ago. “A 35 percent increase in our digital business, 0.6 percent same-store-sales growth from stores in the hardware format and 45 new domestic stores highlighted our record first quarter revenue,” John Venhuizen, president and CEO, said in announcing the results.
Net income declined $16.6 million for the period, it said, to $30.3 million. Ace blamed the decline on the timing of income earned from vendor costs and supply chain infrastructure investments.
Ace said it added 45 new domestic stores in the first quarter and exited 12 stores. Its total domestic store count was 5,177 at the end of the first quarter of 2025, up 112 stores from a year ago.
Even as it reported this positive financial news Ace warned that the current tariff situation was likely to increase the company’s cost of goods. It said it intends to pass these increased costs through to its customers and expects that its customers will pass these increased costs through to consumers. However, Ace said at this time it could not determine the impact all of this will have on the company’s revenues, results of operations and financial condition.
About 3,900 Ace retailers share daily retail sales data and they reported flat U.S. retail same-store sales during the quarter, the result of a 1.1 percent increase in average ticket offset by a 1.1 percent decrease in same-store transactions.
