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Advance Auto Parts

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  1. RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, announced its financial results for the second quarter ended July 16, 2022. "In Q2 we delivered another quarter of growth in net sales and adjusted operating income, underscored by adjusted operating income margin expansion," said Tom Greco, president and chief executive officer. "Our adjusted operating income margin rate of 11.7% was the highest-level AAP has achieved in seven years. This helped enable a quarterly record for adjusted diluted earnings per share of $3.74, which increased 10.0% compared with Q2 2021 and 72% compared with Q2 2019. Additionally, we returned $291 million dollars to our shareholders through a combination of share repurchases and our quarterly cash dividend. This was despite a more challenging quarter on the topline than we expected, with net sales growing 0.6% and comparable store sales declining 0.6%. Our deliberate move to increase owned brand penetration reduced both net and comp sales by approximately one full point. Our DIY omnichannel sales were particularly challenged in the quarter and we expect that high inflation and significant year over year increases in fuel prices will continue to pressure DIY consumers in the back half of the year. As a result, we are updating our 2022 full year guidance. “While our industry is not immune to the inflationary pressures consumers and broader retail have been experiencing, we believe our industry is well positioned for the long-term within the broader retail space to withstand these headwinds. In addition, our team continues to make progress on our strategic initiatives to drive long-term shareholder value. We remain relentlessly focused on customer service, parts availability and reliability of delivery. We're confident this will help enable sustainable sales growth, margin expansion and strong cash returns." View the full article
  2. ONLINE ONLY: Save 15% OFF on your Order! Use Code SAVE15 https://shop.advanceautoparts.com/ Valid through May 1st, 2022 at 11:59pm ET. Detailed Terms and Conditions. Promo Codes At Your One-Stop Automotive Parts Store Keeping a car up and running can be expensive, even when you’re buying and installing the new parts yourself. But, with an Advance Auto Parts coupon code, you’ll be able to save more on the parts you need to keep your car on the road. Advance Auto Parts is the leader in automotive parts and we offer some of the best prices on everything from lawn and garden batteries to brakes. And, with our exclusive Advance Auto Parts coupons and discount codes, your savings will be even more substantial. Just browse our latest Advance Auto Parts promo codes above to find the discount or offer that you can use. Then, just apply your promo code when prompted during checkout to see just how much you’ll save. Take advantage of Advance Auto Parts discounts today so you can keep your engine purring for less.

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