Welcome to our dedicated page for Carparts Com news (Ticker: PRTS), a resource for investors and traders seeking the latest updates and insights on Carparts Com stock.
CarParts.com Inc (PRTS) operates a leading eCommerce platform for automotive aftermarket parts, serving both consumers and businesses across North America. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives shaping the automotive parts sector.
Discover official press releases covering earnings announcements, product innovations, supply chain expansions, and partnership agreements. Our curated collection ensures access to verified information about operational milestones, technology implementations, and market positioning efforts.
Key updates include financial disclosures, leadership changes, inventory system upgrades, and eCommerce platform enhancements. Bookmark this page for direct access to PRTS's evolving story in the competitive automotive aftermarket space, supported by factual reporting and neutral analysis.
CarParts.com (NASDAQ: PRTS) has entered into an asset purchase agreement to acquire Precise Fuel Delivery Systems inventory from Premium Guard. This move aims to enhance CarParts.com’s inventory and expand its mechanical parts offerings in the $300 billion auto parts market. The acquisition is expected to drive efficiencies through economies of scale and increase vehicle application coverage by over 50%. The deal is anticipated to close in the first quarter of fiscal year 2021, although financial terms were not disclosed, indicating a non-material impact on the company.
CarParts.com (NASDAQ: PRTS) announced a fireside chat presentation at the Roth Capital Partners 33rd Annual Stock Growth Conference on March 15, 2021, at 10:00 a.m. PST. A live video webcast will be available on the Roth Conference Website. The company reported record Q4 2020 sales of $119.7 million, a 90% increase year-over-year, and full-year sales of $443.9 million, up 58%. CarParts.com also launched an electric vehicle and hybrid shopping hub at www.carparts.com/ev.
CarParts.com (NASDAQ: PRTS) reported a strong performance for Q4 and fiscal year 2020. Net sales soared 90% YoY to $119.7 million in Q4 and 58% to $443.9 million for the year. Gross profit increased 97% to $41.6 million for Q4 and 84% to $155.4 million for the year, with gross margins improving significantly. Despite a net loss of $3.5 million for Q4, an improvement from a loss of $25.1 million last year, the company had no debt and a cash balance of $35.8 million at year-end. Management remains optimistic about future opportunities in the automotive parts market.
CarParts.com (NASDAQ: PRTS) solidifies its connection to NASCAR by expanding its partnership with 2021 Daytona 500 champion Michael McDowell and Front Row Motorsports. The partnership includes full-season associate branding and primary sponsorship at four races, starting at Watkins Glen on August 8. CarParts.com has gained recognition for its mobile-friendly platform, delivering over 50 million parts. McDowell's endorsement emphasizes the brand's alignment with winning, which could enhance its visibility and market presence in the automotive parts sector.
CarParts.com, Inc. (NASDAQ: PRTS) will hold a conference call on March 8, 2021, at 5:00 p.m. ET to discuss its financial results for the fourth quarter ending January 2, 2021. The call will be hosted by CEO Lev Peker and CFO David Meniane and will include a Q&A session. Investors can access the live audio webcast via the company's website. A replay will be available until March 22, 2021. CarParts.com has been a leader in e-commerce automotive aftermarket for over 25 years, providing a wide range of replacement and performance parts.
CarParts.com (NASDAQ: PRTS) has announced that its new 210,000 square foot distribution center in Grand Prairie, Texas, is operational and has hired its 200th employee. Since launching in Q4 2020, the facility has shipped over 100,000 packages. The company focuses on operational efficiency, stocking fast-moving inventory while hiring veterans to enhance productivity. With increasing demand for auto parts, especially as the U.S. car fleet ages, CarParts.com is committed to ensuring quick delivery and continuous community support in Grand Prairie.
The Professional Fighters League (PFL) has announced CarParts.com (NASDAQ: PRTS) as its Official Auto Parts Retailer. This partnership will include CarParts.com as the presenting partner for PFL 1 on April 23, alongside a new branded content series and a nationwide sweepstakes. PFL has seen significant growth with a 68% Instagram follower increase and 200% spike in social engagement. CarParts.com, recognized as the Fastest-Growing Auto Parts Site, continues to innovate in the automotive retail space, emphasizing customer loyalty and positive experiences.
CarParts.com (NASDAQ: PRTS) has launched a dedicated shopping hub for hybrid and electric vehicle (EV) parts, reflecting its commitment to this growing market. The retailer now offers over 700,000 applications for aftermarket parts for popular EV and hybrid models, including Tesla and Toyota. Chief Merchandising Officer David Morris emphasizes the similarities between EV and gas vehicle parts, while CEO Lev Peker highlights the increasing number of older EVs requiring replacement parts. The user-friendly shopping experience and additional resources aim to establish CarParts.com as the top online destination for the EV community.
CarParts.com (NASDAQ: PRTS) has been recognized by Auto Care Week as the Top Company for Year-over-Year Net Sales Growth in Q3 2020. The company achieved a remarkable 69.5% increase in net sales compared to Q3 2019, outperforming competitors like O’Reilly Auto Parts and AutoZone. This achievement follows an earlier recognition from SimilarWeb as the Fastest-Growing Auto Parts Site of 2020. CarParts.com attributes its success to a customer-centric approach, technological investments, and supply chain enhancements.
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