Advance Auto Parts Inc Stock Price, News & Analysis

Advance Auto Parts, a prominent automotive aftermarket parts retailer, recognized six brand partners during its virtual Partner Growth Summit in Raleigh, N.C. The event raised $1.5 million for Building Homes for Heroes, contributing to a total of over $16 million since 2009. Notable awards included Vendor of the Year for Gilmore and New Vendor of the Year for Solmark International, highlighting strong partnerships that enhance product offerings and supply chain efficiency.

Advance Auto Parts (NYSE:AAP) has entered a multi-year partnership with Bridgestone Retail Operations to stock DieHard batteries in over 2,200 service centers across the U.S. This agreement enhances Bridgestone's offerings, including the DieHard Silver, Gold, Platinum, and Platinum AGM batteries, which were fully rolled out by July. Customers will benefit from DieHard Assurance, providing free battery replacements and roadside assistance. This collaboration aims to boost customer trust and service.

Advance Auto Parts (NYSE:AAP) has appointed Sherice R. Torres to its Board of Directors, effective September 1, 2021. With nearly 25 years of executive experience in marketing and strategic planning, Ms. Torres currently serves as Vice President of Marketing at Facebook Financial. Her prior roles include Global Marketing Director at Google and leadership positions at Viacom. The Board Chair emphasized that her extensive digital marketing skills and commitment to diversity will be instrumental as the company focuses on transforming its digital platforms and marketing strategy.

Advance Auto Parts (NYSE: AAP) has launched its annual fundraising campaign to support the American Heart Association, running from Sept. 1 to Oct. 15. Customers can donate at around 5,700 stores, including Carquest. In 2020, the company raised approximately $1.4 million, a 38% increase from 2019. The funds will assist heart disease and stroke research, aligning with Advance’s commitment to community health. With increasing heart disease rates in the U.S., the partnership aims to impact cardiovascular health significantly.

Advance Auto Parts reported a 5.9% increase in net sales to $2.6 billion for Q2 2021, with comparable store sales up 5.8%. Adjusted diluted EPS rose 15.3% to $3.40. Operating cash flow year-to-date reached $776.2 million, with free cash flow improving to $646.6 million, a 70% increase from 2019. The company returned $457.9 million to shareholders through buybacks and dividends. Full year 2021 guidance was raised, reflecting positive growth, with net sales expected between $10.6 billion and $10.8 billion.

Advance Auto Parts, Inc. (NYSE: AAP) will report its second quarter 2021 results on August 24, 2021, before the market opens. The webcast will begin at 8:00 a.m. Eastern Time, and interested parties can access it on the company's Investor Relations website. As of April 24, 2021, Advance operates 4,793 stores across the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands, in addition to 1,285 independently owned Carquest branded stores in various locations including Mexico and the Caribbean.

Advance Auto Parts (NYSE:AAP) has entered into a business agreement with Baxter Auto Parts to convert 29 stores in the Pacific Northwest to Carquest locations. Store conversions will start in late June and continue through September, with Baxter retaining ownership as part of Carquest’s independent owner network. This move aims to strengthen Advance's market presence in the western U.S., following a similar agreement to lease 109 former Pep Boys locations in California. Both companies anticipate enhanced customer service and product offerings at these rebranded locations.

Advance Auto Parts (AAP) reported strong Q1 2021 results, with net sales up 23.4% to $3.3 billion and comparable store sales increasing 24.7%. Adjusted operating income surged 164.0% to $298.8 million, with a margin expansion of 478 basis points. The diluted EPS increased by 346.0% to $2.81. The company generated $259 million in free cash flow and returned $204 million to shareholders through repurchases and dividends. AAP also announced a new $1 billion share repurchase authorization and a dividend increase.