Advance Auto Parts 3Q Profit Up 10 Percent

ROANOKE, Va. (AP) — Advance Auto Parts Inc. said Wednesday increased sales helped boost profit for the third quarter by more than 10 percent.

The automotive parts retailer said net income rose to $62 million, or 65 cents per share, from $56.2 million, or 58 cents per share, a year ago.

The results included a charge of 4 cents per share for stores that were sold. Excluding that, profit would have been 69 cents per share, which beat the 66 cents per share expected by analysts surveyed by Thomson Reuters. They typically exclude one-time charges and gains.

The company said sales for the quarter ended Oct. 10 increased 6.3 percent to $1.26 billion from $1.19 billion a year ago.

The sales increase reflected an addition of 66 new stores during the past 12 months.

Sales at stores open at least a year, a key measure for retailers, rose 4.7 percent. The gain included an 11.8 percent increase in commercial sales and a 1.7 percent increase for do-it-yourselfers.

Shares rose $1.28, or 3.3 percent, to $40.28.