This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Advance Auto Parts Reports Second Quarter Fiscal 2012 Results

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 second fiscal quarter ended July 14, 2012. Second quarter earnings per diluted share (EPS) were $1.34 which was an 8.2% decrease versus the second quarter last year. Year-to-date, EPS was $3.14 which was an increase of 12.5% over the same period last year.
 
Second Quarter Performance Summary
    Twelve Weeks Ended     Twenty-Eight Weeks Ended

July 14,

2012
   

July 16,

2011

July 14,

2012
   

July 16,

2011
 
Sales (in millions) $ 1,461.0 $ 1,479.8 $ 3,418.3 $ 3,377.9
 
Comp Store Sales % (2.7

%)
2.5 % 0.0 % 1.9 %
 
Gross Profit % 49.9 % 49.7 % 50.0 % 50.2 %
 
SG&A % 38.3 % 37.0

%
38.5 % 39.1 %
 
Operating Income % 11.6 % 12.8 % 11.5 % 11.1 %
 
Diluted EPS $ 1.34 $ 1.46 $ 3.14 $ 2.79
 
Avg Diluted Shares (in thousands) 74,084 77,426 74,157 79,484
 

“As we anticipated, our second quarter faced weak consumer demand in both DIY and Commercial which resulted in our performance coming in at the low end of our outlook. The most significant slowdown was within our cold weather markets, principally in the Northeast and Great Lakes regions of the U.S.,” said Darren R. Jackson, President and Chief Executive Officer. “We remain encouraged by our positive comp store sales growth during the last period of our quarter, as well as the long-term fundamentals of our industry. As we look to the balance of the year we continue to focus on growing Commercial and competing more effectively through investments in areas such as Hub and inventory upgrades, our Commercial Sales Force and the launch of the new Advance Commercial Credit program.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs