Growth Plan Continues to Pay Off

Founded in 1905 and partnered with Ace Hardware Cooperative since 1959, Westlake Ace Hardware is one of the country’s oldest and most successful hardware stores. After 22 years in the company, Tom Knox announced his retirement as CEO, and in April 2018 Joe Jeffries was appointed the new president and CEO. Though Jeffries was stepping into a new role in the company, his knowledge and understanding of Westlake’s growth plan was something he was familiar with, having come from the position of Westlake’s COO. Earlier that year Westlake had finalized the purchase of three hardware chains which expanded their footprint into the hardware industry considerably.

Jeffries continues Westlake’s growth in 2019, starting the year strong by opening a new store in Parkville, MO. Using data collected by CSG’s analytic team, we can see a huge increase in both sales and number of units in the last five years.  Between the end of 2014 and 2018, the retailer increased its sales by an impressive 31.7% and opened 38 stores. On average, Westlake Ace Hardware is increasing their locations by nearly 10% per year and 7% in sales. Below are CSG’s predictions if Westlake continues on the same dramatic incline of growth.