Advance Auto Parts nets $1.5 billion in 3Q sales
Advance Auto Parts Inc. will release its third-quarter earnings on Oct. 31, 2013. In connection with the Oct. 16, 2013 announcement that it is acquiring General Parts International Inc. for $2.04 billion, however, the company is releasing the following preliminary information, which remains subject to change as the quarterly information is finalized.
* Total sales for the third quarter were close to $1.5 billion, up 4.3% compared to 3Q 2012. The sales increase was driven by the acquisition of B.W.P. Distributors Inc. and the net addition of 170 new stores over the last 12 months. This was partially offset by a comparable store sales decrease of 2% versus a comparable store sales decrease of 1.8% during the third quarter of fiscal 2012.
* Year-to-date sales totaled nearly $5.1 billion, an increase of 4.3% compared to the same period last year.
* Operating income during the third quarter is expected to be $170.7 million, which is a 13.5% increase versus 3Q 2012.
Advance Auto Parts hosted a conference call and webcast for analysts and investors at 8:30 a.m. EDT on Oct. 16. A replay of the call and slides are archived on the company’s website until October 16, 2014.
For more information on the Advance Auto Parts purchase of Genuine Parts, click on "Advance Auto Parts buys GP for $2 billion."