Advance Auto Parts, Inc. reports developments for an automotive aftermarket parts retailer serving professional installers and do-it-yourself customers in North America. Company news commonly covers quarterly earnings, full-year guidance, comparable-store sales, operating-margin initiatives, store and distribution activity, and execution of its retail-focused strategic plan.
Updates also address customer programs such as Advance Rewards, the Carquest independent-store network, board appointments, investor conference appearances, and brand marketing partnerships. The company operates primarily in the United States with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands, and serves Carquest-branded stores across Mexico and Caribbean markets.
Advance Auto Parts (NYSE: AAP) has launched a unique marketing campaign by integrating its DieHard batteries with the 'Die Hard' film franchise. A new two-minute commercial features Bruce Willis reprising his iconic role as John McClane, showcasing an action-packed storyline that aligns the reliability of DieHard batteries with the character's attributes. The commercial debuted during a major NFL broadcast and is part of a broader #DieHardIsBack campaign aimed at promoting DieHard's features during National Car Safety Month. The campaign will extend through various digital platforms and in-store promotions.
Advance Auto Parts (NYSE: AAP) recently held its annual Vendor Summit virtually, honoring key partners with the 2020 Vendor of the Year awards. Mann + Hummel received the esteemed title for its innovative contributions to Advance's growth, while AkzoNobel was recognized as the New Vendor of the Year. Valvoline and AC Delco earned accolades for their exceptional support and product contributions. The event showcased the importance of collaboration with vendors during challenging times, highlighting Advance's commitment to meeting customer needs.
Advance Auto Parts (NYSE: AAP) announced the expiration of its cash tender offer for $450 million of 4.50% senior unsecured notes due December 1, 2023. As of the expiration on September 28, 2020, $256.3 million (56.96%) of the notes were validly tendered. The Tender Offer Consideration is set at $1,118.87 per $1,000 principal, with payments made on September 29, 2020. The offer was funded through proceeds from its 1.750% Notes due 2027. J.P. Morgan acted as the dealer manager for the offer, which complies with all applicable securities laws.
Advance Auto Parts has priced its cash tender offer for all outstanding 4.50% senior unsecured notes due December 1, 2023, totaling $450 million. The tender offer, detailed in the Offer Documents from September 22, 2020, includes a consideration of $1,118.87 per $1,000 principal amount of notes validly tendered. The offer expires today at 5:00 p.m. New York City time. Advance has retained D.F. King & Co., Inc. as the tender agent and J.P. Morgan Securities LLC as the dealer manager. The settlement date is expected on September 29, 2020.