ADVANCE AUTO PARTS INC - AAP STOCK NEWS

Advance Auto Parts, Inc. (NYSE: AAP) will release its fourth quarter and full year 2021 results on February 14, 2022, after market close. A conference call to discuss the results is set for February 15, 2022, at 8:00 a.m. ET, accessible via the company's Investor Relations website. The company operates 4,727 stores and 234 Worldpac branches across North America, serving both professional installers and DIY customers.

Advance Auto Parts (NYSE: AAP) has launched a new Speed Perks Gas Rewards program, enabling members to save 25 cents or more per gallon at participating Shell stations in the U.S. Members earn 5 cents off per gallon for every $50 spent at Advance stores or online. This initiative is designed to provide valuable savings to motorists, with the possibility of accumulating even greater discounts through the Fuel Rewards program. The launch is supported by a marketing campaign featuring NASCAR drivers, enhancing visibility and engagement.

Advance Auto Parts (NYSE: AAP) has appointed William Pellicciotti as Senior Vice President, Controller, and Chief Accounting Officer, effective January 24, 2022. Pellicciotti, aged 42, brings over 20 years of experience, most recently serving as Vice President, Controller - North America at The Kraft Heinz Company. His responsibilities will encompass enterprise-wide accounting operations, tax, external financial reporting, and compliance.

Executive Vice President Jeff Shepherd expressed optimism about Pellicciotti's expertise in enhancing the Finance organization.

Advance Auto Parts is enhancing its holiday season offerings by catering to pet owners, recognizing that 78% of them travel with their pets annually. From December 13-24, participating stores will provide free bandanas and water for pets, alongside travel essentials for customers. This initiative aims to elevate the in-store experience, reaffirming Advance's commitment to meet the needs of consumers during holiday travel. With over 23 million new pet households since the pandemic, the company seeks to create a welcoming environment for both motorists and their furry companions.

Advance Auto Parts (NYSE: AAP) has successfully raised nearly $1.7 million for the American Heart Association’s “Life is Why” campaign, marking a 21% increase over 2020. This achievement solidifies the company’s position as one of the largest corporate fundraisers for the AHA. Fundraising efforts involved over 5,700 stores in the U.S. and Puerto Rico, with contributions from team members and customers. The funds will support research and tools aimed at improving cardiovascular health, especially crucial in light of COVID-19's impact on heart conditions.

Advance Auto Parts reported a 3.1% increase in net sales for Q3 2021, reaching $2.6 billion. Comparable store sales also rose by 3.1%, contributing to a 25.8% rise in diluted EPS to $2.68. The adjusted gross margin improved by 246 basis points to 46.2%. Operating income saw a 10.8% decline, while adjusted operating income rose 6.9%. Free cash flow increased by 19% to $734 million. The company has declared a cash dividend of $1.00 per share, payable in January 2022.

Advance Auto Parts (NYSE: AAP) is gearing up for the holiday season with a range of automotive products and services aimed at ensuring safe travels. Highlights include DieHard auto batteries starting at $99.99, Mobil 1 oil change bundles for $37.99, and various accessories for DIY enthusiasts. Customers can enjoy free in-store pickup and same-day delivery in select areas. Advance will close on Thanksgiving and Christmas Day, with stores opening at 7:30 a.m. during the holidays. The company operates 4,748 stores across the U.S., Canada, and other regions.

Advance Auto Parts (NYSE: AAP) has introduced a new retail concept called Carquest by Advance, targeting the DIY automotive market. This initiative aims to provide independent owners with a store model that includes operations and merchandising support from Advance. The company plans to operate 20 Carquest locations by year-end, leveraging its extensive network of suppliers. This model, designed to meet the growing demand for auto parts as the average vehicle age increases, emphasizes community-focused service and offers various customer conveniences, such as curbside services.

Advance Auto Parts, Inc. (NYSE: AAP) announces its upcoming third quarter 2021 earnings report scheduled for November 15, 2021, after market close. A conference call will follow on November 16, 2021, at 8:00 a.m. Eastern Time, allowing stakeholders to discuss the results. Investors can join the call via webcast on the company's Investor Relations website. Advance operates 4,748 stores and 215 Worldpac branches across North America, including locations in the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands.