Welcome to our dedicated page for Advance Auto Parts news (Ticker: AAP), a resource for investors and traders seeking the latest updates and insights on Advance Auto Parts stock.
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 (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.
Advance Auto Parts, a prominent automotive aftermarket parts retailer, recognized six brand partners during its virtual Partner Growth Summit in Raleigh, N.C. The event raised
Advance Auto Parts (NYSE:AAP) has entered a multi-year partnership with Bridgestone Retail Operations to stock DieHard batteries in over 2,200 service centers across the U.S. This agreement enhances Bridgestone's offerings, including the DieHard Silver, Gold, Platinum, and Platinum AGM batteries, which were fully rolled out by July. Customers will benefit from DieHard Assurance, providing free battery replacements and roadside assistance. This collaboration aims to boost customer trust and service.
Advance Auto Parts (NYSE:AAP) has appointed Sherice R. Torres to its Board of Directors, effective September 1, 2021. With nearly 25 years of executive experience in marketing and strategic planning, Ms. Torres currently serves as Vice President of Marketing at Facebook Financial. Her prior roles include Global Marketing Director at Google and leadership positions at Viacom. The Board Chair emphasized that her extensive digital marketing skills and commitment to diversity will be instrumental as the company focuses on transforming its digital platforms and marketing strategy.
Advance Auto Parts (NYSE: AAP) has launched its annual fundraising campaign to support the American Heart Association, running from Sept. 1 to Oct. 15. Customers can donate at around 5,700 stores, including Carquest. In 2020, the company raised approximately $1.4 million, a 38% increase from 2019. The funds will assist heart disease and stroke research, aligning with Advance’s commitment to community health. With increasing heart disease rates in the U.S., the partnership aims to impact cardiovascular health significantly.
Advance Auto Parts reported a 5.9% increase in net sales to $2.6 billion for Q2 2021, with comparable store sales up 5.8%. Adjusted diluted EPS rose 15.3% to $3.40. Operating cash flow year-to-date reached $776.2 million, with free cash flow improving to $646.6 million, a 70% increase from 2019. The company returned $457.9 million to shareholders through buybacks and dividends. Full year 2021 guidance was raised, reflecting positive growth, with net sales expected between $10.6 billion and $10.8 billion.
Advance Auto Parts, Inc. (NYSE: AAP) will report its second quarter 2021 results on August 24, 2021, before the market opens. The webcast will begin at 8:00 a.m. Eastern Time, and interested parties can access it on the company's Investor Relations website. As of April 24, 2021, Advance operates 4,793 stores across the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands, in addition to 1,285 independently owned Carquest branded stores in various locations including Mexico and the Caribbean.
FAQ
What is the current stock price of Advance Auto Parts (AAP)?
What is the market cap of Advance Auto Parts (AAP)?
What is Advance Auto Parts' primary business?
How many stores does Advance Auto Parts operate?
What percentage of Advance Auto Parts' sales come from professional channels?
What recent achievements has Advance Auto Parts made?
What is the Advance Auto Parts Foundation?
Who are some of the vendor partners recognized by Advance Auto Parts?
What strategic actions is Advance Auto Parts currently undertaking?
How is Advance Auto Parts involved in community support?
What opportunities does Advance Auto Parts offer for employment?
Where can I find more information about Advance Auto Parts?
