Advance Auto Parts Inc - AAP STOCK NEWS

Advance Auto Parts (NYSE: AAP) announced the appointment of Joan Hilson as a member of its Board of Directors effective March 15, 2022. Hilson brings over 35 years of financial expertise, predominantly in the retail sector, having served as Chief Financial & Strategy Officer at Signet Jewelers since 2019. Her previous roles include vacancies at David’s Bridal and American Eagle Outfitters, enhancing her qualifications. The Board Chair, Eugene I. Lee, emphasized her significant experience in driving profitable growth, aligning with the company's strategic aims.

Advance Auto Parts reported a strong financial performance for 2021, achieving a net sales increase of 8.8% to $11.0 billion. Fourth-quarter net sales rose 1.3%, with comparable store sales up 8.2%. The company increased operating cash flow by 14.7% to $1.1 billion and free cash flow by 17.2% to $822.6 million. A record $1.0 billion was returned to shareholders, alongside a 50% dividend increase. For 2022, the guidance suggests net sales between $11.2 billion and $11.5 billion, with comparable store sales growth of 1.0% to 3.0%.

Advance Auto Parts (NYSE: AAP) has announced that its DieHard AGM batteries are the first in the automotive industry to receive circular economy validation from UL. This recognition affirms that 94% of materials in new batteries are sourced from recycled batteries returned at Advance or Carquest stores. This sustainable practice significantly reduces environmental impact. The validation emphasizes consumer awareness of eco-friendly choices, with DieHard batteries positioned as reliable options for environmentally conscious motorists.

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.