Martin and Art Ruggiero own seven stores in three states, including Desert Foothills Ace Hardware in Phoenix.
August 15, 2022
With a goal of opening at least 60 additional stores by the end of the year, Ace Hardware celebrated the opening of its 105th new store in 2022. To keep pace with the growth, Ace Hardware continues to invest in expanding its distribution network to house more inventory closer to the growing number of Ace stores and customers.
The company plans to 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 it’s added in the past four years.
“With over 100 new stores already opened for the year, we remain enthusiastically bullish about the continued prospect for new store growth,” says Ace Hardware president and CEO John Venhuizen. “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.”
Ace Hardware has opened more than 840 stores in the past five years while disbursing dividends of $314 million in 2021—a 42.7% return for Ace shareholders.