“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.|
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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV