Infinata Report

Template ID : 2705 Edit

Access More Information on Advance Auto Parts, Inc. !

	Corporate Tracker Subscribers have complete access to all available research and information on Advance Auto Parts, Inc. including detailed executive and manager listings, financial data, M&A and financing activities, personnel changes and more. Register for a free trial today and see what you've been missing.

5008 Airport Road

Roanoke, VA 24012

USA

Phone	540.362.4911
Fax	540.561.3429

Company Information

Company Information
Industry	Retail (Specialty Non-Apparel)

# of Employees	25489

Ownership	Public Company



Company Security Requirements	1. Very High

Company Storage Requirements	1. Very High

Fortune 1000 Rank	478

Description

Advance Auto Parts, Inc. (Advance) is a specialty retailer of automotive parts, accessories and maintenance items to do-it-yourself (DIY) customers in the United States. It operates primarily within the United States automotive aftermarket industry, which includes replacement parts (excluding tires), accessories, maintenance items, batteries and automotive chemicals for cars and light trucks (pickup trucks, vans, minivans and sport utility vehicles). At January 1, 2005, Advance operated 2,652 stores within the United States, Puerto Rico and the Virgin Islands. The Company provides customers online shopping and access to over one million stock keeping units (SKUs).

Operating Systems Utilized

Technology
UNIX

Top Executives

Executive Name	Title
Coro, Ricardo	Senior Vice President, Information Technology And Chief Information Officer
Freeland, Kevin	(Designee)Executive Vice President, Supply Chain And Information Technology
Jackson, Darren	President, Chief Executive Officer, Director
Klasing, Paul	Executive Vice President - Stores
Murray, Elwyn	Executive Vice President - Merchandising, Supply Chain And Technology
Norona, Mike	Executive Vice President And Chief Financial Officer
Wade, Jim	Executive Vice President, Business Development
Wade, Jimmie	Executive Vice President - Business Development

View All Advance Auto Parts, Inc. Management and Contacts Available thru Corporate Tracker

Corporate Tracker doesn't just provide C-level executives, but goes deep within the organizational structure of the companies, governments and academic institutions that we track. This ensures that you are able to identify the decision makers and influencers that allow you to grow your business.

Register for a free trial today and view all executives and managers.

Recent Company Events

Date	Type of Event	Details
2008-02-13	Earnings/Dividends	ROANOKE, Va.--(BUSINESS WIRE)--Advance Auto Parts, Inc. (NYSE:AAP), a leading retailer of automotive aftermarket parts, accessories, batteries, and maintenance items, today announced its financial results for the fourth quarter and fiscal year ended December 29, 2007. Fiscal Fourth-Quarter and Year End 2007 Performance Summary Fiscal Quarter Ended Fiscal Year Ended December 2007 December 2006 2007 2006 Sales (in millions) $ 1,048.4 $ 1,016.2 $ 4,844.4 $ 4,616.5 Comp Stores Sales % (0.4 %) 1.6 % 0.8 % 2.1 % Gross Profit % 47.1 % 47.1 % 47.9 % 47.7 % SGA % 41.0 % 40.8 % 39.3 % 39.0 % Operating Income % 6.1 % 6.3 % 8.6 % 8.7 % Diluted EPS $ 0.35 $ 0.33 $ 2.28 $ 2.16 Avg Diluted Shares (in 000s) 100,654 106,241 104,654 107,124 Fourth Quarter and Annual Highlights Total revenue for the fourth quarter was over $1 billion. Comparable-store sales declined by 0.4% compared to an increase of 1.6% last year. The decrease was comprised of a 3.1% decrease in do-it-yourself (DIY) sales and an 8.2% increase in do-it-for-me (DIFM) sales. This compares to a 0.3% decrease in DIY and a 7.9% increase in DIFM in the fourth quarter last year. Fourth quarter gross margin was 47.1% of sales, which was flat compared to last year as a result of higher selling margin offset by higher shrinkage expense. Fourth quarter selling, general and administrative (SG&A) expenses were 41.0% of sales compared to 40.8% last year, an increase of 24 basis points due to lower than anticipated sales and higher related occupancy expenses. The Company reported quarterly interest expense of $8.2 million in the quarter compared to $7.8 million last year. During the fourth quarter, two million Advance shares or 2% of the outstanding shares were repurchased for $75 million at an average price of $37.10. Fourth quarter earnings per diluted share were $0.35 compared to $0.33 in the same quarter last year. For the year, total revenue increased to $4.8 billion from $4.6 billion last year. The total year comparable-store sales increase of 0.8%, comprised of a 1.0% decrease in DIY sales and a 6.7% increase in DIFM sales, compares to a 2.1% increase last year. For the year, gross margin was 47.9% of sales, a 23 basis-point improvement from last year. SG&A expenses were 39.3% of sales as compared to 39.0% in 2006. Total year earnings per diluted share were $2.28, compared to $2.16 last year, an increase of 5.6%. The company repurchased 8.3 million shares or 8% of its outstanding shares during fiscal year 2007 at an aggregate cost of $286 million, or $34.27 per share. Since the end of 2007, the Company has repurchased another 4.6 million shares at an average price of $34.04 for a total expenditure of $155 million. The fourth quarter and fiscal year 2007 came up short of our financial expectations, said Darren Jackson, President and Chief Executive Officer. That being said, we made significant progress in building the strategic roadmap to become a more customer-driven company. Key Financial Metrics Q4 2007 Q4 2006 FY 2007 FY 2006 Sales Growth % 3.2 % 5.4 % 4.9 % 8.2 % DIY % Comp (3.1 %) (0.3 %) (1.0 %) (0.3 %) DIFM % Comp 8.2 % 7.9 % 6.7 % 10.8 % Sales per Sq Ft (1) $ 44 $ 45 $ 207 $ 210 SG&A $ per Store (2)(3) $ 133 $ 136 $ 601 $ 604 Inventory per Store (2)(4) $ 469 $ 475 $ 469 $ 475 (1) - Sales per square foot is calculated as net sales divided by an average of beginning and ending square footage. Average square footage for each of the reported periods is as follows: Q4 2007 - 23,877,000; Q4 2006 - 22,519,000; FY 2007 - 23,368,000; and FY 2006 - 22,000,000. (2) - $ in thousands. (3) - SG&A per store is calculated as SG&A divided by the average of beginning and ending store count. (4) - Inventory per store is calculated as total ending inventory divided by ending store count. Total sales growth decreased compared to the prior fourth quarter and year due to lower comparable store sales and fewer new stores. Lower c
2008-02-06	Earnings/Dividends	ROANOKE, Va.--(BUSINESS WIRE)--Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket retailer of parts, batteries, accessories and maintenance items, will report its fourth quarter 2007 and annual financial results after market close on February 13, 2008. The company will detail its results on a conference call scheduled to begin at 8:00 a.m. Eastern Time on February 14, 2008, which will be made available concurrently on the companys Web site, www.AdvanceAutoParts.com. The call is also available by dialing 866-908-1AAP. A replay of the conference call will available on the Advance website for one year. About Advance Auto Parts Headquartered in Roanoke, Va., Advance Auto Parts is the second-largest retailer of automotive aftermarket parts, accessories, batteries, and maintenance items in the United States, based on store count and sales. As of October 6, 2007, the Company operated 3,228 stores in 40 states, Puerto Rico, and the Virgin Islands. The Company serves both the do-it-yourself and professional installer markets. Additional information about the Company, employment opportunities, services, as well as on-line purchase of parts and accessories can be found on the Company's web site at www.AdvanceAutoParts.com.
2007-12-04	Company Financing	Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket retailer of parts, accessories, batteries and maintenance items, today announced that it has closed on a new $200 million unsecured four-year term loan The term loan bears interest at the rate of LIBOR plus a spread. The Company has six months to fully draw on the $200 million loan. The spread is currently 100 basis points, resulting in an annualized interest rate of approximately 6.1%, based on current LIBOR. Under terms of the new facility, the spread over LIBOR will adjust to reflect any future changes in the Company’s credit rating. The Company expects to execute new swap agreements as it borrows on the term loan, which will effectively fix the interest rate on $100 million of the new term loan. The Company plans to use the proceeds from the term loan to repurchase shares. The Company's Board of Directors authorized a $500 million share repurchase program on August 8, 2007. Under this authorization, the Company has repurchased 5.8 million shares for $195 million. The lending group was led by JP Morgan and Bank of America.

For assistance call Corporate Tracker Support at 1.866.501.6948

--------------------------------------------------------------------- --------------------------------------------------------------------- --------------------------------------------------------------------- ---------------------------------------------------------------------