Welcome to our dedicated page for Carparts Com news (Ticker: PRTS), a resource for investors and traders seeking the latest updates and insights on Carparts Com stock.
CarParts.com, Inc. (NASDAQ: PRTS) is a technology-led ecommerce company in the automotive aftermarket, and this news page aggregates its latest corporate announcements, earnings updates, and strategic developments. The company sells over 1 million automotive parts and accessories online, focusing on repair, maintenance, and upgrade needs for drivers across its website, mobile app, and marketplace channels.
Visitors to this page can review quarterly earnings press releases, where CarParts.com reports net sales, gross profit, net loss, and Adjusted EBITDA, along with commentary on marketing spend, product mix, and operational efficiency. These releases also explain the company’s use of non-GAAP metrics such as Adjusted EBITDA and provide reconciliations to GAAP results.
The news feed also covers strategic transactions and partnerships, including the 2025 strategic investment from ZongTeng Group, A-Premium, and CDH Investments. Company press releases describe how these partners contribute logistics capabilities, expanded product assortments, and capital, as well as related commercial agreements and governance arrangements.
Governance and leadership updates appear here as well, such as board transitions linked to the strategic investment and executive changes disclosed in Form 8-K filings and accompanying press releases. Investors can also find notices about conference calls for first, second, and third quarter results, including webcast details and replay availability.
For anyone tracking PRTS, this page provides a centralized view of CarParts.com’s operational, financial, and strategic news, from distribution network changes and cost initiatives to membership offerings like CarParts+ and Roadside Assistance. Bookmark this feed to follow how management communicates performance, capital structure decisions, and partnerships that shape the company’s role in online automotive parts retail.
CarParts.com (NASDAQ: PRTS) has launched a dedicated shopping hub for hybrid and electric vehicle (EV) parts, reflecting its commitment to this growing market. The retailer now offers over 700,000 applications for aftermarket parts for popular EV and hybrid models, including Tesla and Toyota. Chief Merchandising Officer David Morris emphasizes the similarities between EV and gas vehicle parts, while CEO Lev Peker highlights the increasing number of older EVs requiring replacement parts. The user-friendly shopping experience and additional resources aim to establish CarParts.com as the top online destination for the EV community.
CarParts.com (NASDAQ: PRTS) has been recognized by Auto Care Week as the Top Company for Year-over-Year Net Sales Growth in Q3 2020. The company achieved a remarkable 69.5% increase in net sales compared to Q3 2019, outperforming competitors like O’Reilly Auto Parts and AutoZone. This achievement follows an earlier recognition from SimilarWeb as the Fastest-Growing Auto Parts Site of 2020. CarParts.com attributes its success to a customer-centric approach, technological investments, and supply chain enhancements.
CarParts.com (NASDAQ: PRTS) has been recognized as the Fastest-Growing Auto Parts Site of 2020 by SimilarWeb, with a remarkable 194% year-over-year increase in website traffic. This growth outpaced competitors like NAPA Auto Parts and 1A Auto, positioning CarParts.com as a leader in the automotive aftermarket. The company's turnaround strategy, focused on technology investments and a customer-first approach, has driven this success. CarParts.com aims to continue this trajectory as consumer behaviors shift toward online shopping for auto parts.
CarParts.com, Inc. (NASDAQ: PRTS) announces that CEO Lev Peker and CFO David Meniane won silver medals in the Executive of the Year and Operations Executive of the Year categories at the Best in Biz Awards 2020. Their leadership has driven a complete turnaround for the company, marked by three consecutive quarters of double-digit profitable growth and the highest gross profit in company history. The awards are a testament to their effectiveness in navigating the challenges posed by the global pandemic while ensuring customer satisfaction.
On December 16, 2020, CarParts.com (NASDAQ: PRTS) announced that CEO Lev Peker and CFO/COO David Meniane received silver medals for Executive of the Year and Operations Executive of the Year at the Best in Biz Awards. Their leadership has transformed the company, which was near bankruptcy in early 2019, into one that recently achieved three consecutive quarters of double-digit profitable growth and record gross profits. The awards highlight the resilience and innovation shown by North American businesses amid the challenges of 2020.
CarParts.com (NASDAQ: PRTS) unveiled its first-ever live shot national advertising campaign, showcasing a new brand identity aimed at enhancing customer experience. The campaign highlights the company's intuitive mobile shopping platform and promises savings of up to 50% on auto parts. Following a record third quarter with net sales up 69% and gross profit more than doubling, the ad aired across major networks and YouTube, reinforcing CarParts.com’s aggressive marketing and operational strategies to foster growth and customer loyalty.
CarParts.com (NASDAQ: PRTS) announced the immediate resignation of Joshua L. Berman from its Board of Directors, expressing gratitude for his significant contributions. Berman played a vital role in the company's strategic direction and ecommerce strategy since its public listing. Concurrently, Dr. Lisa Costa has been appointed to the Board, bringing expertise in business and technology. CEO Lev Peker highlighted Berman's impact on the company's transformation and welcomed Costa's knowledge to drive future growth.
CarParts.com (NASDAQ: PRTS) announced significant changes to its Board of Directors. Joshua L. Berman has stepped down from his position immediately after providing over a decade of valuable contributions to the company's growth and strategy. His role was pivotal, particularly in accounting and e-commerce strategies. Concurrently, Dr. Lisa Costa has been appointed as a Class III director, bringing expertise in technology and data analytics. CEO Lev Peker expressed gratitude for Berman's service, while anticipating the positive impact of Dr. Costa's leadership.
CarParts.com (PRTS) reported a strong third quarter for 2020, with net sales rising 69% to $117.4 million, compared to $69.3 million in Q3 2019. Gross profit more than doubled to $43.1 million, achieving a gross margin of 36.7%. Net income improved to $1.4 million from a loss of $1.4 million a year earlier, equating to $0.03 per diluted share. Adjusted EBITDA surged to $5.1 million from $1.3 million. The company also completed a $60.5 million public equity offering, bolstering liquidity to $59 million.
CarParts.com, Inc. (NASDAQ: PRTS) will hold a conference call on November 9, 2020, to discuss its financial results for the third quarter ended September 26, 2020. The conference will be hosted by CEO Lev Peker and CFO/COO David Meniane, featuring a live audio webcast available on the Company's website. Interested participants can join via a toll-free number or access the archived audio afterwards. CarParts.com has established itself as a leader in e-commerce for automotive parts, providing a streamlined online shopping experience for customers nationwide.