U.S. – ACE Hardware Corporation, the largest retailer-owned hardware cooperative in the industry, reported the Company’s best first quarter for both revenues and net income in its 90 year history.

Total revenues were $1.1 billion for the first quarter of 2014, an increase of $155.5 million or 16.8 percent, from the first quarter of 2013. Net income was $24.4 million for the first quarter of 2014, an increase of $20.0 million or 454.5 percent from the first quarter of 2013. 

“I’m so proud and appreciative of the entire ACE team for using last year’s record performance as a springboard to even greater success,” said John Venhuizen, ACE president and chief executive officer.

ACE added 84 new stores and cancelled 35 stores in the first quarter of 2014 for a net increase in store count of 49. This brought the company’s total global store count to 4,878 at the end of the first quarter 2014, an increase of 161 stores from the first quarter of 2013. Internationally, there are more than 655 ACE stores located in 60 countries outside the U.S., including locations in these Latin American countries: Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panamá, Peru, Venezuela, Paraguay, Mexico, Dominican Republic and Puerto Rico.