This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Advance Auto Parts Reports Second Quarter Fiscal 2012 Results

Stocks in this article: AAP

“While we are not satisfied with our second quarter performance, resulting from weaker consumer demand, we remain committed to our strategic investments in commercial and availability as they are foundational to our future growth,” said Mike Norona, Executive Vice President and Chief Financial Officer. “Given the continued softness in our business trends, we believe it's prudent to be cautious in our outlook for both sales and profitability for the balance of the year. As a result, we now anticipate our fiscal 2012 comparable store sales to be flat to slightly down and our EPS to be in the range $5.25 to $5.35 per share.”

 
Comparable Key Financial Metrics and Statistics (1)
                       
Twelve Weeks Ended Twenty-Eight Weeks Ended Fifty-Two Weeks Ended

July 14,

2012

July 16,

2011

July 14,

2012

July 16,

2011

FY 2011 FY 2010
 
Sales Growth % (1.3

%)

4.4 % 1.2 % 4.0 % 4.1 % 9.5 %
 
Sales per Store (2) $ 1,697 $ 1,700 $ 1,697 $ 1,700 $ 1,708 $ 1,697
 
Operating Income per Store (3) $ 187 $ 170 $ 187 $ 170 $ 184 $ 168
 
Return on Invested Capital (4) 19.9 % 18.5 % 19.9 % 18.5 % 19.5 % 17.5 %
 
Gross Margin Return on Inventory (5) 7.0 5.9 7.0 5.9 6.6 5.1
 
Total Store Square Footage, end of period 26,927 26,400 26,927 26,400 26,663 25,950
 
Total Team Members, end of period 53,464 52,141 53,464 52,141 52,002 51,017
 
 
(1) In thousands except for gross margin return on inventory and total Team Members. The financial metrics presented are calculated on an annual basis and accordingly reflect the last four quarters completed, except for Sales Growth % and where noted.
(2) Sales per store is calculated as net sales divided by an average of beginning and ending store count.
(3) Operating income per store is calculated as operating income divided by an average of beginning and ending store count.
(4) Return on invested capital (ROIC) is calculated in detail in the supplemental financial schedules.
(5) Gross margin return on inventory is calculated as gross profit divided by an average of beginning and ending inventory, net of accounts payable and financed vendor accounts payable.
 

Store Information

During the second quarter, the Company opened 10 stores, including three Autopart International stores. Year-to-date, the Company opened 35 stores, including six Autopart International stores. As of July 14, 2012, the Company's total store count was 3,692 including 203 Autopart International stores. The Company remains on pace to open approximately 120 to 140 stores in fiscal 2012.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs