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Advance Auto Parts Management Discusses Q2 2012 Results - Earnings Call Transcript

The industry is experiencing the impact of lower inflation in some key seasonal categories like air conditioning and the absence of escalating oil prices and the impact on the oil change special programs. In addition, there are pockets where the consumer is trading down in select categories in pursuit of savings. Finally, while price promotions are not having an immediate positive impact on the top line, we believe it will positively contribute to our growth in the future.

From a geographical perspective, we saw different results throughout the regions of the company with the greatest deceleration in our cold weather markets, again especially in the Northeast and the Great Lakes regions. Our performance in those 2 markets is reflective of the milder weather conditions during the first quarter, which impacted hard parts and pulled the business forward in the second quarter.

Our comparable store sales declined mid-single digits in these regions of the country, including our Autopart International stores within those geographies. Conversely, we saw acceleration from the first quarter through the second quarter in our stores located in the western half of the U.S. Our comparable store sales continue to grow positively, and we're up low single digits in our western geographies, where only 10% of our stores are located, as they continue to be less impacted by severe fluctuations in weather.

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