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Advance Auto Parts, Inc. (NYSE: AAP) is a leading automotive aftermarket parts provider in North America, serving both professional installers and do-it-yourself customers. Founded in Roanoke, VA in 1932, the company operates more than 5,100 stores across the United States, Canada, Puerto Rico, and the Virgin Islands under four brands: Advance Auto Parts, Carquest Auto Parts, Worldpac, and Autopart International. With a team of over 70,000 knowledgeable and dedicated employees, Advance Auto Parts is committed to offering exceptional service and automotive solutions.
The company's core business involves providing a wide range of automotive parts and accessories. It boasts a significant presence in the professional channel, which accounts for about 60% of its sales, while the remaining 40% is geared towards the do-it-yourself market. The robust inventory management system and vast distribution network ensure that customers have access to thousands of stock-keeping units fitting various vehicle makes and models.
Recent achievements include the recognition of several vendor partners during its annual Partner Summit, where National Refrigerants was awarded the 2023 Vendor of the Year for its contributions to Advance's chemicals business. The company is also executing a $150 million cost reduction program and has initiated the sale processes for Worldpac and its Canadian business as part of its strategic review aimed at long-term growth and value creation for shareholders.
Advance Auto Parts is actively involved in community support, evidenced by the Advance Auto Parts Foundation’s recent $1.75 million donation to organizations supporting veterans. The company also maintains a strong focus on technological integration to enhance operational efficiencies and customer experience.
For more information, visit www.AdvanceAutoParts.com.
Advance Auto Parts, Inc. (NYSE: AAP) will release its first quarter 2024 earnings report on May 29, 2024. The webcast will start at 8:00 a.m. Eastern Time. Interested parties can access the event through the company's Investor Relations website or by phone with pre-registration. A replay will be available for one year.
Advance Auto Parts, a key player in the automotive aftermarket industry, is providing its Speed Perks loyalty rewards members with the chance to win a motorsports experience attending the Indianapolis 500 and Coca-Cola 600 races. This once-in-a-lifetime opportunity allows fans to 'Do the Double' by witnessing two iconic races in a single day. Tony Stewart, a NASCAR legend and Advance brand partner, is the ambassador for the program, underscoring the significance of this unique experience. Advance Auto Parts aims to create lasting memories for racing enthusiasts through this exclusive initiative.
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