$AAP (Advance Auto Parts Inc.)

$AAP {{ '2016-08-16T12:58:24+0000' | timeago}} • Webcast

$AAP is working on a productivity pipeline aimed at improving margins and profitability while building new capabilities to fuel future growth agenda. The company has identified multiple projects which will yield savings in 2017. In 2Q16, $AAP launched zero-based budgeting and the company aims to eliminate unnecessary costs.

$CHK {{ '2017-09-12T12:13:37+0000' | timeago}} • Announcement

$CHK has appointed Leslie Keating to the BoD, effective Sept 11, 2017. Keating will serve as a member of the Audit Committee and the Compensation Committee and stand for re-election at the 2018 annual meeting of shareholders. Keating is the EVP of Supply Chain Strategy and Transformation of $AAP.

$AAP {{ '2017-08-16T15:06:06+0000' | timeago}} • Webcast

$AAP said that on the inventory side, in 1Q17 and 2Q17, it delivered two consecutive quarters of reduction on a YoY basis. The inventory reduction in the quarter of about $120MM was the largest quarterly inventory reduction that the company had since 2005.

$AAP {{ '2017-08-16T15:04:03+0000' | timeago}} • Webcast

$AAP introduced a new B2B platform called Advance Pro to over 1,000 customers in 2Q17. The company expects additional customers to move to this platform for the balance of the year as the platform is showing positive results and good customer traction.

$AAP {{ '2017-08-15T14:28:25+0000' | timeago}} • Announcement

For FY17, $AAP expects to open 60-65 new stores, while comparable store sales is expected in the range of -3% to -1%. Capital expenditure for the year is expected to be approx. $250MM, while free cash flow is expected to be a minimum of $300MM.

$AAP {{ '2017-08-15T14:18:21+0000' | timeago}} • Announcement

$AAP, the largest US automotive parts retailer by store count, reported a slump in 2Q17 earnings. Net income declined 30% to $87.04MM or $1.17 per share from $124.6MM or $1.68 per share a year ago. Revenue remained flat YoY at $2.26Bil.

$AAP {{ '2017-08-15T12:28:37+0000' | timeago}} • Infographic

$AAP Advance Auto Parts, Inc. Earnings AlphaGraphic: Q2 2017 Highlights

$AAP {{ '2017-05-24T13:19:35+0000' | timeago}} • Webcast

$AAP said that it has not increased the CapEx estimate of $250MM in 2017 because of the increase in the productivity goal. This amount will be spent for IT, new stores and maintenance.

$AAP {{ '2017-05-24T12:58:42+0000' | timeago}} • Webcast

For 2017, $AAP expects the operating performance impact of the collective actions will be weighted towards the back half of the year. From Jan. 1, 2017, the excess tax benefit for stock-based compensation is recognized as a component of tax expense instead of equity. This change resulted in a decrease in tax expense and a increase in EPS in 1Q17.

$AAP {{ '2017-05-24T12:50:51+0000' | timeago}} • Infographic

$AAP Advance Auto Parts, Inc.  Earnings AlphaGraphics: Q1 2017 highlights

$AAP {{ '2017-05-24T12:43:19+0000' | timeago}} • Webcast

$AAP stated that macro headwinds within the industry resulted in unexpected substantially softer consumer demand in the middle of 1Q17. This time frame was worse than expected and resulted in a slow start to the spring selling season. The company plans to expand in select markets throughout the balance of the year.

$AAP {{ '2017-05-24T11:30:29+0000' | timeago}} • Announcement

As $AAP posted 1Q17 results, CEO Tom Greco said, "we are increasing and accelerating our initial gross productivity target of $500 million over 5 years to $750 million over 4 years." Mr. Greco sees "top-line improvement" in comparable store sales and better profitability in the second half of FY17.

$AAP {{ '2017-05-24T11:27:26+0000' | timeago}} • Announcement

Sales fell 3% for $AAP in 1Q17, as net income slid to $108MM from last year's $159MM. The aftermarket parts maker's earnings sunk to $1.46 per diluted share from $2.14 a share, with comparable store sales declining 2.7% in the quarter. Operating cash flow slumped 60.3% to $35.1MM.

$AAP {{ '2017-03-07T13:39:09+0000' | timeago}} • Announcement

Automotive aftermarket parts provider $AAP plans to open 75 to 85 new stores and a distribution center in 2017. Advance Auto Parts expects to hire more than 15,000 this year across its family of companies, including Advance Auto Parts, Carquest, WORLDPAC and Autopart International.

$AAP {{ '2017-03-01T14:50:57+0000' | timeago}} • Announcement

$AAP appointed Jeffrey Shepherd as SVP, Corporate Controller and Chief Accounting Officer, effective March 1, 2017. Shepherd joins $AAP from $GM, where he served as Controller for General Motors Europe since 2015.

$AAP {{ '2017-02-21T18:47:45+0000' | timeago}} • Infographic

$AAP Advance Auto Parts Earnings AlphaGraphics: Q4 2016 Highlights

$AAP {{ '2017-02-21T14:16:33+0000' | timeago}} • Webcast

$AAP said reducing the inventory is the right thing for the business and it will reduce without disrupting customer service. The company said it has too much inventory at the moment and there are a lot of duplication in it.

$AAP {{ '2017-02-21T13:38:23+0000' | timeago}} • Webcast

For 2017, $AAP expects to deliver comparable store sales in the range of 0-2%, and expects to open between 75 to 85 new stores, inclusive of new Worldpac branches. For the year, capital spending is expected to be approx. $250MM and free cash flow to be at least $400MM.

$AAP {{ '2017-02-21T13:27:15+0000' | timeago}} • Webcast

In 4Q16, $AAP began to make incremental investments to better serve its customers and accelerate top line momentum to re-gain market share. This included investments in parts availability, customer service and front-line incentives. These investments will pay dividends over the long term, said the company.

$AAP {{ '2017-02-21T13:23:54+0000' | timeago}} • Webcast

$AAP said it has accelerated growth during 2016 and delivered comp sales growth of 3.1%, strongest quarterly comp performance in 12 quarters post General Parts International acquisition.

$AAP {{ '2017-02-21T11:57:30+0000' | timeago}} • Announcement

Automotive aftermarket parts company $AAP reported higher 4Q16 earnings, helped by higher revenue. Net income rose 13.76% to $62.36MM or $0.84 per diluted share from $54.82MM or $0.74 per diluted share a year ago. Total sales rose 2.42% to $2.08Bil, driven by the comparable store sales growth of 3.1%.

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