Advance Auto Parts Inc - AAP STOCK NEWS

Advance Auto Parts (NYSE: AAP) collaborates with DieHard to release a mini-documentary featuring Kirstie Ennis, a former Marine and mountaineer. The video, titled “The Climber,” showcases Ennis' inspiring journey after losing her leg in Afghanistan and her goal to summit the Seven Summits. Advance emphasizes the connection between Ennis's determination and the values of the DieHard brand: reliability and power. The documentary will be available on various social media platforms and will debut in theaters in February 2023.

Advance Auto Parts (NYSE: AAP) has announced the retirement of Reuben E. Slone, executive vice president of supply chain, effective January 9, 2023. He will be succeeded by Stephen J. Szilagyi, who previously held senior leadership roles at MSC Industrial Supply and Lowe's. Szilagyi's experience includes driving sales growth and improving supply chain efficiency. Slone will continue in an advisory role until April 2023, ensuring a smooth transition. The leadership change aims to enhance supply chain operations and business strategy execution.

Advance Auto Parts reported Q3 net sales of $2.6 billion, up 0.8% year-over-year, with comparable store sales declining 0.7%. The company returned $167 million to shareholders during the quarter, totaling $860 million year-to-date. Despite a decline in gross profit by 0.2% to $1.2 billion, adjusted gross profit increased by 2.9%. Operating income fell 22.7%, leading to a diluted EPS decrease of 31.3%. The company reiterated its full-year guidance, anticipating adjusted operating income margin expansion while navigating a challenging inflationary environment.

Advance Auto Parts, Inc. (NYSE: AAP) will report its third quarter results for the period ended October 8, 2022 on November 15, 2022, after market close. The company will host a conference call on November 16, 2022, starting at 8:00 a.m. Eastern Time, which can be accessed via a webcast on its Investor Relations website. As of July 16, 2022, Advance operated 4,724 stores and 312 Worldpac branches across the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands, in addition to 1,329 independently owned Carquest stores.

Advance Auto Parts recognized six vendor partners at its annual Partner Summit held on October 17. The company awarded Sprayway the 2022 Vendor of the Year for exceptional supply chain collaboration amid an aerosol can shortage. Additionally, the Advance Auto Parts Foundation announced a gift exceeding $2 million to military veteran nonprofits, benefiting organizations such as Building Homes for Heroes and Hire Heroes USA. With over $17 million contributed since 2011, the event underscored the importance of vendor partnerships in Advance's success.

Advance Auto Parts (NYSE: AAP) has announced the departure of Michael C. Creedon, Jr., effective September 30, 2022. He will be succeeded by Herman L. Word, Jr., previously Division President of Carquest North America. Word has been with the company since 2003 and has accelerated the performance of Carquest Independents, adding over 100 locations in three years. The leadership change comes as the company aims to strengthen its operational capabilities and improve store performance.

Advance Auto Parts (NYSE: AAP) reported Q2 2022 net sales of $2.7 billion, a 0.6% increase year-over-year. Adjusted diluted EPS rose 10.0% to $3.74. However, diluted EPS fell 13.1% to $2.38, and comparable store sales decreased by 0.6%. The company returned $291 million to shareholders through stock repurchases and dividends. Although gross profit margin decreased to 44.5%, adjusted gross margin improved to 48.0%. Due to inflationary pressures and changing consumer demand, the 2022 full-year guidance was revised downwards for net sales and comparable store sales.

Advance Auto Parts, Inc. (NYSE: AAP) will release its second quarter results on August 23, 2022, after market close. A conference call to discuss these results is scheduled for August 24, 2022, at 8:00 a.m. Eastern Time, accessible via the Investor Relations website. As of April 23, 2022, Advance operated 4,687 stores and 311 Worldpac branches in North America, also serving 1,318 independently owned Carquest branded stores. The company provides automotive aftermarket parts to professional installers and do-it-yourself customers.

Advance Auto Parts (NYSE: AAP) has launched a new bilingual brand character named Ed Vance, aimed at connecting with a younger demographic of DIY car enthusiasts aged 16 to 34, representing 40% of self-maintaining motorists. Ed Vance embodies authenticity and relatability, enhancing brand recognition while guiding consumers on their automotive journeys. The new campaign includes bilingual marketing efforts, a theme song, and a contest celebrating the company’s 90th anniversary. These initiatives seek to establish a personal connection with modern customers and differentiate Advance in a competitive market.