Ace Hardware released its financial report for Q2 2024 this week. The company reported second quarter 2024 revenues of $2.7 billion, an increase of $81.7 million, or 3.1%, from the second quarter of 2023. Net income was $114.4 million for the second quarter of 2024, a decrease of $12.3 million from the second quarter of 2023. This decrease was due to planned increases in marketing expenses and retail store expenses. The increased spending was expected to be offset by an improved gross margin rate. However, product cost deflation and higher transportation costs prevented the margin expansion.

In a survey of 53 independent retailers, respondents were asked to report how several operating metrics had changed year over year from Q4 2021 to Q4 2022, including total sales; transaction count; inventory investment; cost of goods and gross profit margins. Additionally, retailers were asked about expectations for Q1 2023 and their investment plans in inventory, staff, property, plant and equipment in Q2 2023.

Ace Hardware released its financial report for Q2 2024 this week. The company reported second quarter 2024 revenues of $2.7 billion, an increase of $81.7 million, or 3.1%, from the second quarter of 2023. Net income was $114.4 million for the second quarter of 2024, a decrease of $12.3 million from the second quarter of 2023. This decrease was due to planned increases in marketing expenses and retail store expenses. The increased spending was expected to be offset by an improved gross margin rate. However, product cost deflation and higher transportation costs prevented the margin expansion.

Groupe Seb nine-month sales achieved 5,532 million euro, recording an increase of 3.9% LFL and -0.5% reported. Third-quarter sales reached 1,920 million euro, +8.9% LFL and +1.4% reported.

Malaysian retail group Mr DIY has launched its first brick-and-mortar store in Vietnam, as it accelerates growth in Southeast Asia.

In the first quarter of 2024, the home improvement industry numbers reflect a complex interplay of growth strategies, digital transformation, and market challenges. A look at the recent Q1 earnings reports from Ace Hardware, The Home Depot, and Lowe’s show that these companies are navigating these dynamics with strategic initiatives and focusing on customer engagement in the face of economic fluctuations.

House-Hasson Hardware has finalized its acquisition of former Midwestern U.S. wholesale hardware distributor Bostwick-Braun’s warehouses and inventory.

Gillman Do it Best Home Centers has acquired Goecker Building Supplies, a building materials supplier with locations in North Vernon and Seymour, Indiana. The acquisition aligns with Gillman Home Centers’ commitment to community-focused, value-driven service and marks an expansion of its footprint in the Indiana home improvement market.