Carparts Com Inc - PRTS STOCK NEWS

CarParts.com (NASDAQ: PRTS) and Safe Parking LA have released a documentary showcasing 'Fix-It Day 2025', a community service event held at the Petersen Automotive Museum. The initiative provided essential auto repairs for 38 individuals and families experiencing vehicular homelessness in Los Angeles, including those affected by recent wildfires and economic challenges.

The event brought together multiple partners including Wrench, LIQUI MOLY, Bosch, JC Whitney, The Lime Truck, and Pacific Nexus. The documentary features success stories from Safe Parking LA program graduates, including Keshia, who completed her college degree while living in her car and later launched two small businesses.

The film highlights the collaboration between corporate partners and community organizations, demonstrating how businesses can engage directly in community support beyond traditional donations. The initiative focuses on providing reliable transportation access, which is important for maintaining employment and stability for individuals facing temporary homelessness.

CarParts.com (NASDAQ: PRTS) reported declining financial results for fiscal year 2024. Net sales decreased 13% to $588.8 million, with gross profit falling to $196.7 million and gross margin of 33.4%. The company recorded a net loss of ($40.6) million, or ($0.71) per share, compared to ($8.2) million loss in 2023.

Key operational highlights include the launch of a re-platformed website with AI-based search, introduction of CarParts+ membership program, and a fully operational Las Vegas distribution center handling 25% of company volume. The mobile app reached over 800,000 cumulative downloads.

Q4 2024 showed continued challenges with net sales down 15% to $133.5 million and a net loss of ($15.4) million. The company maintains $36.4 million in cash with no revolver debt. Management attributed the decline to soft consumer demand and pressure from non-compliant illegal parts in lighting and mirrors segments. For 2025, the company is evaluating strategic alternatives and has suspended guidance.

CarParts.com (NASDAQ: PRTS) partnered with Safe Parking LA to host Fix-It Day 2025, providing essential vehicle repairs for 38 individuals and families experiencing hardship. The event was held at the Petersen Automotive Museum and Chris' Auto Service in Los Angeles.

The initiative delivered critical repairs including brake replacements, battery changes, and oil changes, with over 250 parts donated by CarParts.com and partners. Industry collaborators including JC Whitney, LIQUI MOLY, Bosch, and Wrench contributed with tools, supplies, and certified mechanics.

Participants received complimentary CarParts+ Memberships offering exclusive discounts and roadside assistance, along with custom care packages containing car maintenance essentials. The event gained recognition from Los Angeles Council District 5 and received national media coverage.

CarParts.com (NASDAQ: PRTS), a leading eCommerce automotive parts retailer, has announced it is exploring strategic alternatives to maximize shareholder value, including a potential company sale, following received strategic inquiries. The company has engaged Craig-Hallum Capital Group as financial advisor and Wilson Sonsini Goodrich & Rosati as legal counsel to support this process.

CEO David Meniane highlighted the company's 5-year investment in building a vertically integrated supply chain with nationwide fulfillment network, supporting their ecommerce platform, mobile app, and marketplaces business. While emphasizing their strong potential as an independent entity, management is committed to evaluating strategic options for maximizing shareholder value.

No specific timeline has been set for the strategic review process, and there is no guarantee it will result in any transaction or strategic change. The company will only provide updates upon entering definitive agreements or when disclosure is legally required.

CarParts.com (NASDAQ: PRTS) has scheduled its fourth quarter and fiscal year 2024 earnings conference call for Tuesday, March 25, 2025, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The company will release its financial results for the period ended December 28, 2024, through a press release before the call.

The conference call will be hosted by CEO David Meniane, CFO Ryan Lockwood, and COO Michael Huffaker, featuring a live audio webcast followed by a Q&A session. Participants must pre-register to receive dial-in details. The webcast will be accessible at carparts.com/investor/news-events, with a replay available on the company's investor website.

CarParts.com (NASDAQ: PRTS) has announced Fix-It Day 2025, a community initiative providing free car repairs to 38 pre-selected families in Los Angeles, including those displaced by wildfires. The event, scheduled for March 2, 2025, will be held at the Petersen Automotive Museum from 8 AM to 5 PM.

The initiative, partnering with Safe Parking LA and other organizations, will offer essential services including brake replacements, battery changes, and oil changes. Supporting partners include Wrench (providing certified mechanics), JC Whitney (donating tools), LIQUI MOLY (supplying motor oils), and Bosch (contributing components).

All participants will receive complimentary CarParts+ Memberships, offering exclusive discounts and priority service. The event aims to assist families facing financial hardships, where car repairs typically costing $500-$1,000 could force choices between vehicle maintenance and basic necessities.

CarParts.com (NASDAQ: PRTS) announces major expansion of JC Whitney Magazine to over 770 retail stores across North America, including Kroger, Walmart, and Barnes & Noble. The magazine will further expand into 1,400 Canadian stores in March 2025.

Launched in 2024, the quarterly publication features over 100 pages of automotive content, including industry trends, car culture, product innovations, and expert insights. A key feature is the revival of the legendary JC Whitney Catalog section. This expansion coincides with JC Whitney's 110th anniversary and represents a significant milestone in the brand's transformation under CarParts.com, which has repositioned JC Whitney as a lifestyle destination for automotive enthusiasts.

CarParts.com (PRTS) has successfully regained compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2). The company received confirmation from Nasdaq's Listing Qualifications Department on January 16, 2025, after maintaining a closing bid price of $1.00 or higher for 10 consecutive business days from December 30, 2024 to January 14, 2025.

CEO David Meniane stated that this compliance milestone reflects market recognition of their operational execution and business potential. The company continues to focus on creating long-term shareholder value through strategic initiatives and operational excellence in their e-commerce automotive parts business.

CarParts.com (NASDAQ: PRTS) has launched CarParts+, a new membership program priced at $79 annually, designed to enhance the online auto parts shopping experience. The program offers comprehensive benefits including 24/7 roadside assistance with services such as 15-mile towing, battery boosts, tire changes, lockout assistance, and fuel delivery.

Members receive free shipping on over 500,000 eligible items and extended 60-day returns (doubled from the standard 30-day window). The membership also includes exclusive VIP customer service features with dedicated phone support and text-to-chat capabilities.