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. reports developments as a technology-led ecommerce provider of automotive aftermarket parts and accessories for vehicle repair, maintenance, and upgrades. The company sells through its website, mobile app, marketplace channels, and a portfolio of brands that includes CarParts.com, CarParts Wholesale, JC Whitney, Garage-Pro, and Evan Fischer, supported by a company-operated distribution network and global supply chain.
Recurring news themes include quarterly and annual results, inventory and margin commentary, catalog and platform expansion, branded marketplace relationships, customer payment and membership offerings, strategic investments, and operating changes tied to fulfillment, customer service, technology, and supply chain execution.
CarParts.com reported a 61% increase in Q2 2020 net sales, reaching a record $118.9 million, up from $73.7 million a year prior. Gross profit surged 88% to $40.8 million, with a gross margin expansion of 480 basis points to 34.3%. The company achieved a net income of $1.6 million, a significant turnaround from a net loss of $(1.5) million last year. Adjusted EBITDA increased 4x to $5.6 million. The firm also announced a rebranding to streamline its operations and enhance market presence.
CarParts.com, Inc. (NASDAQ: PRTS) announces a conference call scheduled for August 10, 2020, at 5:00 p.m. ET to discuss its second-quarter financial results for the period ending on June 27, 2020. The call will feature CEO Lev Peker and CFO/COO David Meniane, followed by a Q&A session. The financial results will be shared in a press release prior to the call. Interested parties can join the call via audio webcast on the company's website.