Ace

A groundbreaking ceremony Tuesday drew representatives from Ace and local business leaders to the site of a future retail support center in West Jefferson, Ohio.

The co-op expects the 500,000-sq.-ft. facility to be completed in July 2014. The facility will essentially replace an older facility currently operating in Toledo.

Chicago -- With a view toward driving profitable sales, Ace VP merchandising John Surane pointed to some merchandise initiatives, regional wins and corporate strategies during the co-op's 2011 Ace Convention and Exhibits.

One of the brightest merchandising spots was the Craftsman tools brand. Back in February 2010, Ace and Sears announced a partnership that opened the way for Ace retailers to sell the Sears-owned Craftsman brand. 

It’s been nearly two months since Chicago-based True Value launched its new e-commerce site, and in that time the hardware co-op has seen traffic to TrueValue.com triple.


The new site already features more than 22,000 SKUs of its core assortments in accordance with its Destination True Value format. 


Jeff Schulein of Crown Ace Hardware has accomplished what few dealers can lay claim to: 17 stores, a solid succession plan and, since the economic downturn, no store closures or major employee layoffs. In fact, Schulein and his son, Mark, are in negotiations to open an 18th store, this one in San Diego. 


“I’m an entrepreneur who does things by the seat of his pants,” Jeff said. “Mark is a good manager. He’s highly organized. So together we make a good team.” 


Chicago -- After a year in which consolidated wholesale sales were up 2.1%, Ace Hardware Corp. is planning for sales growth of 3.0% in 2011.

"It feels good to be back in the positives," said Dorvin Lively, Ace CFO, speaking to co-op members assembled during the Ace Spring Convention and Exhibits in Chicago last week.

Sears Holdings plans to sell its Craftsman brand to tool giant Stanley Black & Decker for $550 million cash up front, $250 million at the end of year three, plus various annual payments.

Hoffman Estates, Illinois-based Sears said the move is part of an effort to stabilize its operating performance. The struggling retailer also intends to close an additional 150 non-profitable stores – 109 of them under the Kmart banner.

[Click here for the list of upcoming store closures.]

After a year-long relationship, the co-op takes ownership of the new-product incubator.