• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Advance Auto Parts Reports Fourth Quarter and Full Year 2024 Results

    2/26/25 6:30:00 AM ET
    $AAP
    Auto & Home Supply Stores
    Consumer Discretionary
    Get the next $AAP alert in real time by email

    Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, announced its financial results for the fourth quarter and full year ended December 28, 2024.

    "During 2024, we initiated transformative actions to reposition Advance for long-term success and value creation," said Shane O'Kelly, president and chief executive officer. "We strengthened our focus on the blended-box by divesting non-core assets, closing non-strategic stores and right-sizing our organization. Our supply chain and merchandising teams are accelerating efforts to provide faster access to thousands of parts across our network. From a team perspective, we deployed additional resources to support our frontline team members and our customers. Additionally, we augmented our leadership team with talented executives that bring knowledge of core retail fundamentals."

    "We ended 2024 with a healthy balance sheet and strong liquidity to navigate our turnaround. The team is acutely focused on execution and driving stronger accountability. We remain committed to delivering an improved operating performance in 2025 and making progress toward our FY27 goal of achieving an adjusted operating margin of approximately 7%."

    Fourth Quarter 2024 Results (1,2,3)

    Fourth quarter 2024 net sales totaled $2.0 billion, a decrease of 0.9% compared with the prior year. Comparable store sales for the fourth quarter 2024 decreased 1.0%. Comparable store sales does not include store closing sales at more than 500 corporate locations which will be closing under our restructuring plan.

    The company's fourth quarter 2024 gross profit was $347.1 million or 17.4% of net sales. Adjusted fourth quarter 2024 gross profit was $778.6 million or 39.0% of net sales, compared with $819.6 million or 40.7% of net sales in the prior year quarter. The deleverage was primarily driven by atypical items and headwinds in the period that are not included in non-GAAP adjustments. These include (1) end of year inventory adjustments associated with an annual review of vendor balances and inventory associated with DCs closed during the year and (2) margin headwind associated with liquidation sales at closing store and DC locations. We estimate these items collectively impacted fourth quarter 2024 gross margin by approximately 280 basis points.

    The company's fourth quarter 2024 SG&A was $1.2 billion, or 58.5% of net sales. Adjusted fourth quarter 2024 SG&A was $878.1 million or 44.0% of net sales compared with $850.7 million or 42.2% of net sales in the prior year quarter. This was primarily driven by higher labor-related expenses compared with the prior year.

    The company's fourth quarter operating loss was $820.0 million, or (41.1)% of net sales. Adjusted fourth quarter 2024 operating loss was $99.4 million or (5.0)% of net sales, compared with a loss of $31.0 million or (1.5)% of net sales in the prior year quarter. Our fourth quarter 2024 adjusted operating margin was negatively impacted by 280 basis points of atypical items and headwinds in the period that are not included in non-GAAP adjustments.

    The company's effective tax rate in the fourth quarter of 2024 was 26.2%. The company's diluted loss per share was $10.16. Adjusted fourth quarter diluted loss per share was $1.18 compared with adjusted diluted loss per share of $0.45 in the prior year quarter. Atypical items and headwinds in the period that are not included in non-GAAP adjustments, accounted for approximately $0.68 of loss per share in the fourth quarter.

    _____________________________

    (1) All comparisons are based on the same time period in the prior year. The company calculates comparable store sales based on the change in store or branch sales starting once a location has been open for approximately one year and by including e-commerce sales and excluding sales fulfilled by distribution centers to independently owned Carquest locations. Acquired stores are included in the company's comparable store sales one year after acquisition. The company includes sales from relocated stores in comparable store sales from the original date of opening. Closed stores and stores in process of closing under the restructuring plan are not included in the comparable store sales calculation.

    Full Year 2024 Results (1,2,3)

    Full year 2024, net sales totaled $9.1 billion, a decrease of 1.2% from 2023. Comparable store sales for full year 2024 decreased 0.7%. Comparable store sales does not include store closing sales at more than 500 corporate locations which will be closing under our restructuring plan.

    The company's full year 2024 gross profit was $3.4 billion, or 37.5% of net sales. Adjusted full year 2024 gross profit was $3.8 billion or 42.2% of net sales, compared with $3.9 billion or 41.9% of net sales in the prior year. The gross margin improvement was primarily driven by lapping the one-time impact in the change for inventory reserves in the prior year offset by strategic pricing investments, atypical items and headwinds in the period that are not included in non-GAAP adjustments. These atypical items included end of year inventory adjustments, liquidation sales at closing store and DC locations, lost revenue related to hurricanes and systems outages. We estimate these items collectively impacted full year 2024 gross margin by approximately 90 basis points.

    The company's full year 2024 SG&A was $4.1 billion, or 45.3% of net sales. Adjusted full year 2024 SG&A was $3.8 billion, or 41.8% of net sales, compared with $3.8 billion, or 41.3% of net sales, in the prior year. The deleverage was primarily driven by the lower sales volume compared with the prior year. Full year 2024 SG&A also includes atypical items that are not included in non-GAAP adjustments. These include a gain on sale of asset offset by nonrecurring team member assistance expenses and other charges. In aggregate, we estimate these items drove 30 basis points of favorability for the full year.

    The company's full year 2024 operating loss was $713.3 million, or (7.8)% of net sales. Adjusted full year 2024 operating income was $35.2 million or 0.4% of net sales, compared with adjusted operating income of $56.3 million or 0.6% of net sales in the prior year. Our full year 2024 adjusted operating margin was negatively impacted by 60 basis points of atypical items and headwinds in the period that are not included in non-GAAP adjustments.

    The company's effective tax rate for full year 2024 was 23.6%. The company's full year 2024 diluted loss per share was $9.80. Adjusted full year 2024 diluted loss per share was $0.29 compared with adjusted diluted loss per share of $0.28 in the prior year quarter. Atypical items and headwinds in the period that are not included in non-GAAP adjustments accounted for approximately $0.64 of loss per share for the full year.

    Net cash provided by operating activities was $140.5 million for the full year 2024 versus $141.8 million for the prior year. The decrease was primarily driven by lower net income and deferred income taxes offset by higher working capital. Free cash flow for the full year 2024 was an outflow of $40.3 million, compared with an outflow of $83.9 million in the prior year.

    Capital Allocation

    On February 11, 2025, the company declared a regular cash dividend of $0.25 per share to be paid on April 25, 2025 to all common stockholders of record as of April 11, 2025.

    __________________________

    (1) Adjusted Operating Income Margin is a non-GAAP measure. For a better understanding of the company's non-GAAP adjustments, refer to the reconciliation of non-GAAP financial measures in the accompanying financial tables.

    (2) All comparisons are based on continuing operations for the same time period in the prior year, unless otherwise specified. The company calculates comparable store sales based on the change in store or branch sales starting once a location has been open for approximately one year and by including e-commerce sales and excluding sales fulfilled by distribution centers to independently owned Carquest locations. Acquired stores are included in the company's comparable store sales one year after acquisition. The company includes sales from relocated stores in comparable store sales from the original date of opening. Closed stores and stores in process of closing under the restructuring plan are not included in the comparable store sales calculation.

    (3) On August 22, 2024, the company entered into a definitive purchase agreement to sell its Worldpac Inc. business ("Worldpac"), which reflects a strategic shift in its business. The sale was completed on November 1, 2024. As a result, the company has classified the results of operations and cash flows of Worldpac as discontinued operations in its condensed consolidated statements of operations and condensed consolidated statements of cash flows for all periods presented.

    Strategic Priorities and Financial Objectives (FY25 through FY27)

    The company is executing a strategic plan to improve business performance with a focus on core retail improvements. This plan is anchored on three pillars outlined below to put the company on the path to deliver consistent profitable growth.

    • Merchandising excellence
      • Strategic sourcing to improve first costs and bring parts to market faster.
      • Assortment management to enhance availability of parts.
      • Pricing and promotions management to improve gross margin.
    • Supply chain
      • Consolidation of distribution centers to operate 12 large facilities by end-2026.
      • Opening of 60 market hub locations by mid-2027.
      • Optimization of transportation routes and freight to lower costs and improve productivity.
    • Store operations
      • Standardization of store operating model.
      • Improving labor productivity.
      • Accelerate pace of new store openings.

    Full Year 2025 Guidance (53 weeks)

     

     

    As of February 26, 2025

    ($ in millions, except per share data)

     

    Low

     

    High

    Net sales from continuing operations (1)

     

    $8,400

     

    $8,600

    Comparable store sales (52 weeks) (2)

     

    0.5%

     

    1.5%

    New store growth

     

    30 new stores

    Adjusted operating income margin from continuing operations (4)

     

    2.00%

     

    3.00%

    Adjusted diluted EPS from continuing operations (3,4)

     

    $1.50

     

    $2.50

    Capital expenditures

     

    Approx. $300

    Free cash flow (4)

     

    $(85)

     

    $(25)

    (1) Includes approximately $100 to $120 million of net sales in the 53rd week.

    (2) The company calculates comparable store sales based on the change in store or branch sales starting once a location has been open for approximately one year and by including e-commerce sales and excluding sales fulfilled by distribution centers to independently owned Carquest locations. Acquired stores are included in the company's comparable store sales one year after acquisition. The company includes sales from relocated stores in comparable store sales from the original date of opening. Closed stores and stores in process of closing under the restructuring plan are not included in the comparable store sales calculation.

    (3) Includes approximately $0.40 related to interest income for full year 2025 and approximately $0.05 contribution from the 53rd week.

    (4) Adjusted operating income margin from continuing operations, Adjusted diluted EPS from continuing operations and Free cash flow are non-GAAP measures. For a better understanding of the company's non-GAAP adjustments, refer to the reconciliation of non-GAAP financial measures in the accompanying financial tables. The company is not able to provide a reconciliation of these forward-looking non-GAAP measures because it is unable to predict with reasonable accuracy the value of certain adjustments and as a result, the comparable GAAP measures are unavailable without unreasonable efforts.

    First Quarter 2025 Expectations

    We are providing select first quarter 2025 expectations, which include the impact of transitory costs associated with closure of stores and DC locations.

    ($ in millions)

     

    As of February 26, 2025

    Net sales from continuing operations

     

    Approx. $ 2,500

    Comparable store sales

     

    Decline approx. 2%

    Adjusted operating income margin from continuing operations

     

    Approx. (2.00)%

    Full Year 2027 Objectives (1)

    Our full year 2027 financial objectives are unchanged

     

     

     

    Net sales ($ in millions)

     

    Approx. $9,000

    Comparable store sales

     

    Positive low-single-digit %

    New store growth

     

    50 to 70 new stores

    Adjusted operating income margin (1)

     

    Approx. 7.00%

    Leverage ratio (Adj. debt/ Adj. EBITDAR) (1)

     

    Approx. 2.5x

    (1) Adjusted operating income margin is based on performance of Advance continuing operations. Adjusted operating income margin from continuing operations and Adjusted Debt to Adjusted EBITDAR ratio ("leverage ratio") are non-GAAP measures. For a better understanding of the company's non-GAAP adjustments, refer to the reconciliation of non-GAAP financial measures in the accompanying financial tables. The company is not able to provide a reconciliation of these forward-looking non-GAAP measures because it is unable to predict with reasonable accuracy the value of certain adjustments and as a result, the comparable GAAP measures are unavailable without unreasonable efforts.

    Investor Conference Call

    The company will detail its results for the fourth quarter and full year 2024 via a webcast scheduled to begin at 8 a.m. Eastern Time on Wednesday, February 26, 2025. The webcast will be accessible via the Investor Relations page of the company's website (ir.AdvanceAutoParts.com).

    To join by phone, please pre-register online for dial-in and passcode information. Upon registering, participants will receive a confirmation with call details and a registrant ID. While registration is open through the live call, the company suggests registering a minimum 10 minutes before the start of the call. A replay of the conference call will be available on the company's Investor Relations website for one year.

    About Advance Auto Parts

    Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of December 28, 2024, Advance operated 4,788 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 934 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.

    Forward-Looking Statements

    Certain statements herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast, "guidance," "intend," "likely," "may," "plan," "position," "possible," "potential," "probable," "project," "should," "strategy," "target," "will," or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the Company's strategic initiatives, restructuring and asset optimization plans, financial objectives, operational plans and objectives, statements about the sale of the Company's Worldpac business, including statements regarding the benefits of the sale and use of proceeds therefrom, statements regarding expectations for economic conditions, future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the Company's views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the Company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, the Company's ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, risks associated with the Company's restructuring and asset optimization plans, deterioration of general macroeconomic conditions, geopolitical factors including increased tariffs and trade restrictions, the highly competitive nature of the industry, demand for the Company's products and services, risks relating to the impairment of assets, including intangible assets such as goodwill, access to financing on favorable terms, complexities in the Company's inventory and supply chain and challenges with transforming and growing its business. Please refer to "Item 1A. Risk Factors" of the company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC"), as updated by the company's subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.

    Advance Auto Parts, Inc. and Subsidiaries

    Condensed Consolidated Balance Sheets

    (in thousands), (unaudited)

    Assets

     

    December 28, 2024 (1)

     

    December 30, 2023 (1)

    Current assets:

     

     

     

     

    Cash and cash equivalents

     

    $

    1,869,417

     

    $

    488,049

    Receivables, net

     

     

    544,040

     

     

    609,528

    Inventories

     

     

    3,612,081

     

     

    3,893,569

    Other current assets

     

     

    118,002

     

     

    180,402

    Current assets held for sale

     

     

    —

     

     

    1,205,473

    Total current assets

     

     

    6,143,540

     

     

    6,377,021

    Property and equipment, net

     

     

    1,334,338

     

     

    1,555,985

    Operating lease right-of-use assets

     

     

    2,242,602

     

     

    2,347,073

    Goodwill

     

     

    598,217

     

     

    601,159

    Other intangible assets, net

     

     

    405,751

     

     

    419,161

    Other noncurrent assets

     

     

    73,661

     

     

    85,988

    Noncurrent assets held for sale

     

     

    —

     

     

    889,939

    Total assets

     

    $

    10,798,109

     

    $

    12,276,326

     

     

     

     

     

    Liabilities and Stockholders' Equity

     

     

     

     

    Current liabilities:

     

     

     

     

    Accounts payable

     

    $

    3,407,889

     

    $

    3,526,079

    Accrued expenses

     

     

    784,635

     

     

    616,067

    Other current liabilities

     

     

    472,833

     

     

    396,408

    Current liabilities held for sale

     

     

    —

     

     

    768,851

    Total current liabilities

     

     

    4,665,357

     

     

    5,307,405

    Long-term debt

     

     

    1,789,161

     

     

    1,786,361

    Non-current operating lease liabilities

     

     

    1,897,165

     

     

    2,039,908

    Deferred income taxes

     

     

    192,671

     

     

    355,635

    Other long-term liabilities

     

     

    83,813

     

     

    83,538

    Noncurrent liabilities held for sale

     

     

    —

     

     

    183,751

    Total liabilities

     

     

    8,628,167

     

     

    9,756,598

    Total stockholders' equity

     

     

    2,169,942

     

     

    2,519,728

    Total liabilities and stockholders' equity

     

    $

    10,798,109

     

    $

    12,276,326

    (1)

    This condensed consolidated balance sheet has been prepared on a basis consistent with the company's previously prepared balance sheets filed with the Securities and Exchange Commission ("SEC"), but does not include the footnotes required by accounting principles generally accepted in the United States of America ("GAAP").

    Advance Auto Parts, Inc. and Subsidiaries

    Condensed Consolidated Statements of Operations

    (in thousands, except per share data), (unaudited)

     

     

    Twelve Weeks

    Ended

     

    Twelve Weeks

    Ended

     

    Fifty-Two Weeks

    Ended

     

    Fifty-Two Weeks

    Ended

     

     

    December 28,

    2024 (1)

     

    December 30,

    2023 (1)

     

    December 28,

    2024 (1)

     

    December 30,

    2023 (1)

    Net sales

     

    $

    1,996,025

     

     

    $

    2,014,405

     

     

    $

    9,094,327

     

     

    $

    9,209,075

     

    Cost of sales

     

     

    1,648,908

     

     

     

    1,194,776

     

     

     

    5,685,807

     

     

     

    5,348,966

     

    Gross profit

     

     

    347,117

     

     

     

    819,629

     

     

     

    3,408,520

     

     

     

    3,860,109

     

    Selling, general and administrative expenses, exclusive of restructuring and related expenses

     

     

    879,021

     

     

     

    851,676

     

     

     

    3,812,924

     

     

     

    3,805,235

     

    Restructuring and related expenses

     

     

    288,098

     

     

     

    10,308

     

     

     

    308,902

     

     

     

    15,987

     

    Selling, general and administrative expenses

     

     

    1,167,119

     

     

     

    861,984

     

     

     

    4,121,826

     

     

     

    3,821,222

     

    Operating (loss) income

     

     

    (820,002

    )

     

     

    (42,355

    )

     

     

    (713,306

    )

     

     

    38,887

     

    Other, net:

     

     

     

     

     

     

     

     

    Interest expense

     

     

    (18,906

    )

     

     

    (18,041

    )

     

     

    (81,033

    )

     

     

    (87,989

    )

    Other income, net

     

     

    13,471

     

     

     

    1,692

     

     

     

    26,241

     

     

     

    1,924

     

    Total other, net

     

     

    (5,435

    )

     

     

    (16,349

    )

     

     

    (54,792

    )

     

     

    (86,065

    )

    Loss before provision for income taxes

     

     

    (825,437

    )

     

     

    (58,704

    )

     

     

    (768,098

    )

     

     

    (47,178

    )

    Provision for income taxes

     

     

    (215,906

    )

     

     

    (23,514

    )

     

     

    (181,143

    )

     

     

    (17,154

    )

    Net loss from continuing operations

     

     

    (609,531

    )

     

     

    (35,190

    )

     

     

    (586,955

    )

     

     

    (30,024

    )

    Net income from discontinued operations

     

     

    194,754

     

     

     

    62

     

     

     

    251,167

     

     

     

    59,759

     

    Net (loss) income

     

    $

    (414,777

    )

     

    $

    (35,128

    )

     

    $

    (335,788

    )

     

    $

    29,735

     

     

     

     

     

     

     

     

     

     

    Basic loss per common share from continuing operations

     

    $

    (10.20

    )

     

    $

    (0.59

    )

     

    $

    (9.84

    )

     

    $

    (0.51

    )

    Basic earnings per common share from discontinued operations

     

     

    3.26

     

     

     

    —

     

     

     

    4.21

     

     

     

    1.01

     

    Basic (loss) earnings per common share

     

    $

    (6.94

    )

     

    $

    (0.59

    )

     

    $

    (5.63

    )

     

    $

    0.50

     

    Basic weighted-average common shares outstanding

     

     

    59,743

     

     

     

    59,504

     

     

     

    59,647

     

     

     

    59,432

     

     

     

     

     

     

     

     

     

     

    Diluted loss per common share from continuing operations

     

    $

    (10.16

    )

     

    $

    (0.59

    )

     

    $

    (9.80

    )

     

    $

    (0.50

    )

    Diluted earnings per common share from discontinued operations

     

     

    3.24

     

     

     

    —

     

     

     

    4.19

     

     

     

    1.00

     

    Diluted (loss) earnings per common share

     

    $

    (6.92

    )

     

    $

    (0.59

    )

     

    $

    (5.61

    )

     

    $

    0.50

     

    Diluted weighted-average common shares outstanding

     

     

    59,978

     

     

     

    59,675

     

     

     

    59,902

     

     

     

    59,608

     

    (1)

    These preliminary condensed consolidated statements of operations have been prepared on a basis consistent with the company's previously prepared statements of operations filed with the SEC, but do not include the footnotes required by GAAP.

    Advance Auto Parts, Inc. and Subsidiaries

    Condensed Consolidated Statements of Cash Flows

    (in thousands), (unaudited)

     

     

    Fifty-Two Weeks Ended

     

     

    December 28,

    2024 (1)

     

    December 30,

    2023 (1)

    Cash flows from operating activities:

     

     

     

     

    Net (loss) income

     

    $

    (335,788

    )

     

    $

    29,735

     

    Net income from discontinued operations

     

     

    251,167

     

     

     

    59,759

     

    Net (loss) income from continuing operations

     

     

    (586,955

    )

     

     

    (30,024

    )

    Adjustments to reconcile net income to net cash provided by operating activities:

     

     

     

     

    Depreciation and amortization

     

     

    291,980

     

     

     

    269,430

     

    Share-based compensation

     

     

    42,193

     

     

     

    40,905

     

    Write-down on receivables

     

     

    34,176

     

     

     

    —

     

    Loss on sale and impairment of long-lived assets

     

     

    157,957

     

     

     

    857

     

    Provision for deferred income taxes

     

     

    (203,276

    )

     

     

    (37,175

    )

    Other, net

     

     

    3,968

     

     

     

    3,267

     

    Net change in:

     

     

     

     

    Receivables, net

     

     

    28,952

     

     

     

    (114,745

    )

    Inventories

     

     

    270,403

     

     

     

    (64,146

    )

    Accounts payable

     

     

    (110,112

    )

     

     

    57,518

     

    Accrued expenses

     

     

    126,588

     

     

     

    94,698

     

    Other assets and liabilities, net

     

     

    84,630

     

     

     

    (78,797

    )

    Net cash provided by operating activities from continuing operations

     

     

    140,504

     

     

     

    141,788

     

    Net cash (used in) provided by operating activities from discontinued operations

     

     

    (55,871

    )

     

     

    145,587

     

    Net cash provided by operating activities

     

     

    84,633

     

     

     

    287,375

     

    Cash flows from investing activities:

     

     

     

     

    Purchases of property and equipment

     

     

    (180,800

    )

     

     

    (225,672

    )

    Proceeds from sales of property and equipment

     

     

    13,394

     

     

     

    6,922

     

    Net cash used in investing activities from continuing operations

     

     

    (167,406

    )

     

     

    (218,750

    )

    Net cash provided by (used in) investing activities from discontinued operations

     

     

    1,522,160

     

     

     

    (16,739

    )

    Net cash provided by (used in) investing activities

     

     

    1,354,754

     

     

     

    (235,489

    )

    Cash flows from financing activities:

     

     

     

     

    Borrowings under credit facilities

     

     

    —

     

     

     

    4,805,000

     

    Payments on credit facilities

     

     

    —

     

     

     

    (4,990,000

    )

    Proceeds from issuance of senior unsecured notes, net

     

     

    —

     

     

     

    599,571

     

    Dividends paid

     

     

    (59,855

    )

     

     

    (209,293

    )

    Purchase of noncontrolling interests

     

     

    (9,101

    )

     

     

    —

     

    Repurchases of common stock

     

     

    (6,501

    )

     

     

    (14,518

    )

    Other, net

     

     

    447

     

     

     

    (1,493

    )

    Net cash (used in) provided by financing activities

     

     

    (75,010

    )

     

     

    189,267

     

    Effect of exchange rate changes on cash

     

     

    1,569

     

     

     

    (8,487

    )

    Net increase in cash and cash equivalents

     

     

    1,365,946

     

     

     

    232,666

     

    Cash and cash equivalents, beginning of period

     

     

    503,471

     

     

     

    270,805

     

    Cash and cash equivalents, end of period

     

    $

    1,869,417

     

     

    $

    503,471

     

     

     

     

     

     

    Summary of cash and cash equivalents:

     

     

     

     

    Cash and cash equivalents of continuing operations, end of period

     

    $

    1,869,417

     

     

    $

    488,049

     

    Cash and cash equivalents of discontinued operations, end of period

     

     

    —

     

     

     

    15,422

     

    Cash and cash equivalents, end of period

     

    $

    1,869,417

     

     

    $

    503,471

     

     

     

     

     

     

    Advance Auto Parts, Inc. and Subsidiaries

    Condensed Consolidated Statements of Cash Flows (continued)

    (in thousands), (unaudited)

     

     

    Fifty-Two Weeks Ended

     

     

    December 28,

    2024 (1)

     

    December 30,

    2023 (1)

    Supplemental cash flow information:

     

     

     

     

    Interest paid

     

    $

    75,740

     

     

    $

    73,844

     

    Income tax payments

     

    $

    37,037

     

     

    $

    98,792

     

     

     

     

     

     

    Non-cash transactions:

     

     

     

     

    Accrued purchases of property and equipment

     

    $

    14,841

     

     

    $

    5,287

     

    Transfer of property and equipment from (to) assets related to discontinued operations to (from) continuing operations

     

    $

    7,262

     

     

    $

    (1,666

    )

    (1)

    This condensed consolidated statement of cash flows has been prepared on a basis consistent with the company's previously prepared statements of operations filed with the SEC, but does not include the footnotes required by GAAP.

    Reconciliation of Non-GAAP Financial Measures

    The company's financial results include certain financial measures not derived in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Non-GAAP financial measures, including Adjusted Net income, Adjusted EPS, Adjusted SG&A Margin, and Adjusted Operating Income, should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position or cash flows.

    2024 Restructuring Plan

    On November 13, 2024, the company's Board of Directors approved a restructuring and asset optimization plan ("2024 Restructuring Plan") designed to improve the Company's profitability and growth potential and streamline its operations. This plan anticipates closure of approximately 500 stores, approximately 200 independent locations and four distribution centers by mid-2025, as well as headcount reductions.

    Other Restructuring Initiatives

    In November 2023, the company announced a strategic and operational plan which would result in $150.0 million of savings, of which $50.0 million would be reinvested into frontline team members. In addition to a reduction in workforce, this plan streamlines the company's supply chain by configuring a multi-echelon supply chain by leveraging current asset and operating fewer, more productive distribution centers that focus on replenishment and move more parts closer to the customer. In achieving this plan, the company is in process of converting certain distribution centers and stores into market hubs. In addition to providing replenishment to near-by stores, market hubs support retail operations. In addition to the distribution network optimization, other restructuring expenses included Worldpac post transaction-related expenses and other expenses defined below.

    The company has presented these non-GAAP financial measures as the company believes that the presentation of the financial results that exclude (1) transformation expenses under the company's turnaround plan, (2) other significant expenses and (3) nonrecurring tax expense are useful and indicative of the company's base operations because the expenses vary from period to period in terms of size, nature and significance. These measures assist in comparing the company's current operating results with past periods and with the operational performance of other companies in the industry. The disclosure of these measures allows investors to evaluate the company's performance using the same measures management uses in developing internal budgets and forecasts and in evaluating management's compensation. Included below is a description of the expenses the company has determined are not normal, recurring cash operating expenses necessary to operate the company's business and the rationale for why providing these measures is useful to investors as a supplement to the GAAP measures.

    Transformation Expenses — Expenses incurred in connection with the Company's turnaround plans and specific transformative activities related to asset optimization that the Company does not view to be normal cash operating expenses. These expenses primarily include:

    • Restructuring and other related expenses — Expenses relating to strategic initiatives, including severance expense, retention bonuses offered to store-level employees to help facilitate the closing of stores, incremental reserves related to the collectibility of receivables resulting from contract terminations with certain independents associated with the 2024 Restructuring Plan and third-party professionals assisting in the development and execution of the strategic initiatives.
    • Inventory write-down — Expenses relating to the incremental write-down of inventory to net realizable value due to liquidation sales and streamlining inventory assortment due to store and distribution center closures associated with the 2024 Restructuring Plan.
    • Impairment and write-down of long-lived assets - Expenses relating to the impairment of operating lease ROU assets and property and equipment, incremental depreciation as a result of accelerating long-lived assets over a shorter useful life, and incremental lease abandonment expenses as a result of accelerating ROU asset amortization for leases the Company expects to exit before the end of the contractual term, net of gains on lease terminations, in connection with the 2024 Restructuring Plan and Other Restructuring Plan.
    • Distribution network optimization — Expenses primarily relating to the conversion of the stores and distribution centers to market hubs, including temporary labor, incremental depreciation as a result of accelerating long-lived assets over a shorter useful life, nonrecurring professional service fees and team member severance.

    Other Expenses — Expenses incurred by the Company that are not viewed as normal cash operating expenses and vary from period to period in terms of size, nature, and significance. These expenses primarily include:

    • Other professional service fees — Expenses relating to nonrecurring services rendered by third-party vendors engaged to perform a strategic business review, including the Company's transformation initiatives.
    • Worldpac post transaction-related expenses — Expenses primarily relating to non-recurring separation activities provided by third-party professionals subsequent to the sale of Worldpac.
    • Executive turnover — Expenses associated with the hiring search for leadership positions and compensation.
    • Material weakness remediation — Incremental expenses associated with the remediation of the Company's previously-disclosed material weaknesses in internal control over financial reporting.
    • Cybersecurity incident— Expenses related to the response and remediation of a cybersecurity incident.

    Nonrecurring Tax Expense — Income tax incurred by the Company from the book to tax basis difference in the Worldpac Canada stock directly resulting from the sale of Worldpac.

    The following tables include reconciliations of this information to the most comparable GAAP measures:

    Reconciliation of Adjusted Net Income and Adjusted EPS:

     

    Twelve Weeks Ended

    Fifty-Two Weeks Ended

    (in thousands, except per share data)

    December 28,

    2024

    December 30,

    2023

    December 28,

    2024

    December 30,

    2023

    Net loss from continuing operations (GAAP)

    $

    (609,531

    )

    $

    (35,190

    )

    $

    (586,955

    )

    $

    (30,024

    )

    Cost of sales adjustments:

     

     

     

     

    Transformation expenses:

     

     

     

     

    Inventory write-down

     

    431,529

     

     

    —

     

     

    431,529

     

     

    —

     

    Selling, general and administrative adjustments:

     

     

     

     

    Transformation expenses:

     

     

     

     

    Restructuring and other related expenses (1)

     

    60,682

     

     

    7,516

     

     

    60,682

     

     

    7,835

     

    Impairment and write-down of long-lived assets (2)

     

    204,156

     

     

    —

     

     

    204,156

     

     

    —

     

    Distribution network optimization (3)

     

    5,769

     

     

    —

     

     

    19,713

     

     

    —

     

    Other expenses:

     

     

     

     

    Other professional service fees

     

    10,233

     

     

    —

     

     

    15,533

     

     

    —

     

    Worldpac post transaction-related expenses

     

    7,258

     

     

    —

     

     

    7,258

     

     

    —

     

    Executive turnover

     

    —

     

     

    2,792

     

     

    1,561

     

     

    8,152

     

    Material weakness remediation

     

    930

     

     

    1,009

     

     

    4,579

     

     

    1,438

     

    Cybersecurity incident

     

    —

     

     

    —

     

     

    3,491

     

     

    —

     

    Other income adjustments:

     

     

     

     

    TSA services

     

    (2,537

    )

     

    —

     

     

    (2,537

    )

     

    —

     

    Provision for income taxes on adjustments (4)

     

    (179,505

    )

     

    (2,829

    )

     

    (186,491

    )

     

    (4,356

    )

    Nonrecurring tax expense (5)

     

    —

     

     

    —

     

     

    10,000

     

     

    —

     

    Adjusted net loss (Non-GAAP)

    $

    (71,016

    )

    $

    (26,702

    )

    $

    (17,481

    )

    $

    (16,955

    )

     

     

     

     

     

    Diluted loss per share from continuing operations (GAAP)

    $

    (10.16

    )

    $

    (0.59

    )

    $

    (9.80

    )

    $

    (0.50

    )

    Adjustments, net of tax

     

    8.98

     

     

    0.14

     

     

    9.51

     

     

    0.22

     

    Adjusted loss per share from continuing operations (Non-GAAP)

    $

    (1.18

    )

    $

    (0.45

    )

    $

    (0.29

    )

    $

    (0.28

    )

     

    (1) Restructuring and other related expenses included transactional expenses due to incremental receivable reserves resulting from contract terminations with certain independents as part of the 2024 Restructuring Plan of $24.7 million, severance and other labor related costs of $15.2 million as part of the 2024 Restructuring Plan, and nonrecurring services rendered by third-party vendors assisting with the 2024 Restructuring Plan of $20.8 million.

    (2) During the fifty-two weeks ended December 28, 2024, the Company recorded impairment charges for ROU assets and property and equipment of $171.4 million and incremental accelerated depreciation and amortization for property and equipment and ROU assets of $32.7 million. December 28, 2024

    (3) Distribution network optimization includes incremental depreciation as a result of accelerating long-lived assets over a shorter useful life of $5.0 million.

    (4) The income tax impact of non-GAAP adjustments is calculated using the estimated tax rate in effect for the respective non-GAAP adjustments.

    (5) Income tax incurred by the Company from the book to tax basis difference in the Worldpac Canada stock directly resulting from the sale of Worldpac.

    Reconciliation of Gross Profit

     

    Twelve Weeks Ended

    Fifty-Two Weeks Ended

    (in thousands)

    December 28,

    2024

    December 30,

    2023

    December 28,

    2024

    December 30,

    2023

    Gross Profit (GAAP)

    $

    347,117

    $

    819,629

    $

    3,408,520

    $

    3,860,109

    Gross Profit adjustments

     

    431,529

     

    —

     

    431,529

     

    —

    Adjusted Gross Profit (Non-GAAP)

    $

    778,646

    $

    819,629

    $

    3,840,049

    $

    3,860,109

    Reconciliation of Adjusted Selling, General and Administrative Expenses

     

    Twelve Weeks Ended

    Fifty-Two Weeks Ended

    (in thousands)

    December 28,

    2024

    December 30,

    2023

    December 28,

    2024

    December 30,

    2023

    SG&A (GAAP)

    $

    1,167,119

    $

    861,984

    $

    4,121,826

    $

    3,821,222

    SG&A adjustments

     

    289,028

     

    11,317

     

    316,973

     

    17,425

    Adjusted SG&A (Non-GAAP)

    $

    878,091

    $

    850,667

    $

    3,804,853

    $

    3,803,797

    Reconciliation of Adjusted Operating Income:

     

    Twelve Weeks Ended

    Fifty-Two Weeks Ended

    (in thousands)

    December 28,

    2024

    December 30,

    2023

    December 28,

    2024

    December 30,

    2023

    Operating (loss) income (GAAP)

    $

    (820,002

    )

    $

    (42,355

    )

    $

    (713,306

    )

    $

    38,887

    COGS adjustments

     

    431,529

     

     

    —

     

     

    431,529

     

     

    —

    SG&A adjustments

     

    289,028

     

     

    11,317

     

     

    316,973

     

     

    17,425

    Adjusted operating (loss) income (Non-GAAP)

    $

    (99,445

    )

    $

    (31,038

    )

    $

    35,196

     

    $

    56,312

    NOTE: Adjusted gross profit, Adjusted gross margin (calculated by dividing Adjusted gross profit by Net sales), Adjusted SG&A, Adjusted SG&A as a percentage of Net sales, Adjusted operating income and Adjusted operating income margin (calculated by dividing Adjusted operating income by Net sales) are non-GAAP measures. Management believes these non-GAAP measures are important metrics in assessing the overall performance of the business and utilizes these metrics in its ongoing reporting. On that basis, management believes it is useful to provide these metrics to investors and prospective investors to evaluate the company's operating performance across periods adjusting for these items (refer to the reconciliations of non-GAAP adjustments above). These non-GAAP measures might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures reported by other companies. Non-GAAP measures should not be used by investors or third parties as the sole basis for formulating investment decisions, as they may exclude a number of important cash and non-cash recurring items.

    Reconciliation of Free Cash Flow:

     

     

     

     

     

     

    Fifty-Two Weeks Ended

    (in thousands)

     

    December 28,

    2024

     

    December 30,

    2023

    Cash flows from operating activities

     

    $

    140,504

     

     

    $

    141,788

     

    Purchases of property and equipment

     

     

    (180,800

    )

     

     

    (225,672

    )

    Free cash flow

     

    $

    (40,296

    )

     

    $

    (83,884

    )

    Adjusted Debt to Adjusted EBITDAR Ratio: (1)

     

     

     

     

     

     

    Four Quarters Ended

    (in thousands, except adjusted debt to adjusted EBITDAR ratio)

     

    December 28,

    2024

     

    December 30,

    2023

    Total GAAP debt

     

    $

    1,789,161

     

     

    $

    1,786,361

     

    Add: Operating lease liabilities

     

     

    2,358,693

     

     

     

    2,423,183

     

    Adjusted debt

     

    $

    4,147,854

     

     

    $

    4,209,544

     

     

     

     

     

     

    GAAP Net income

     

    $

    (586,955

    )

     

    $

    (30,024

    )

    Depreciation and amortization

     

     

    291,980

     

     

     

    269,430

     

    Interest expense

     

     

    81,033

     

     

     

    87,989

     

    Other income, net

     

     

    (26,242

    )

     

     

    (1,924

    )

    Provision for income taxes

     

     

    (181,143

    )

     

     

    (17,154

    )

    Rent expense

     

     

    587,845

     

     

     

    533,693

     

    Share-based compensation

     

     

    44,596

     

     

     

    45,647

     

    Other nonrecurring charges (2)

     

     

    27,179

     

     

     

    12,419

     

    Transformation related charges (3)

     

     

    742,458

     

     

     

    29,719

     

    Adjusted EBITDAR

     

    $

    980,751

     

     

    $

    929,795

     

     

     

     

     

     

    Adjusted debt to adjusted EBITDAR ratio

     

     

    4.2

     

     

     

    4.5

     

    (1)

    The four quarters ended December 30, 2023 reflect the corrected results, which include the correction of non-material errors the company discovered in previously reported results.

    (2)

    The adjustments to the four quarters ended December 28, 2024 include expenses associated with the company's material weakness remediation efforts and executive search charges and the adjustments to the four quarters ended December 30, 2023 represent charges incurred resulting from the early redemption of the company's 2023 senior unsecured notes.

    (3)

    Transformation related charges include transformation plans designed to improve the company's profitability and growth potential and streamline its operations. These charges primarily relate to inventory write-down charges and impairments on long-lived assets.

     
    NOTE: Management believes its Adjusted Debt to Adjusted EBITDAR ratio ("leverage ratio") is a key financial metric for debt securities, as reviewed by rating agencies, and believes its debt levels are best analyzed using this measure. The company's goal is to maintain an investment grade rating. The company's credit rating directly impacts the interest rates on borrowings under its existing credit facility and could impact the company's ability to obtain additional funding. If the company was unable to maintain its investment grade rating, this could negatively impact future performance and limit growth opportunities. Similar measures are utilized in the calculation of the financial covenants and ratios contained in the company's financing arrangements. The leverage ratio calculated by the company is a non-GAAP measure and should not be considered a substitute for debt to net earnings, net earnings or debt as determined in accordance with GAAP. The company adjusts the calculation to remove rent expense and to add back the company's existing operating lease liabilities related to their right-of-use assets to provide a more meaningful comparison with the company's peers and to account for differences in debt structures and leasing arrangements. The company's calculation of its leverage ratio might not be calculated in the same manner as, and thus might not be comparable to similarly titled measures by other companies.

    Store Information:

    During the fifty-two weeks ended December 28, 2024, 42 stores were opened and 40 were closed, resulting in a total of 4,788 stores as of December 28, 2024, compared with a total of 4,786 stores as of December 30, 2023.

    The below table summarizes the changes in the number of company-operated stores during the twelve and fifty-two weeks ended December 28, 2024:

     

     

    Twelve Weeks Ended

     

     

    AAP

     

    CARQUEST

     

    Total

    October 5, 2024

     

    4,492

     

     

    289

     

     

    4,781

     

    New

     

    18

     

     

    —

     

     

    18

     

    Closed

     

    (5

    )

     

    (6

    )

     

    (11

    )

    Converted

     

    2

     

     

    (2

    )

     

    —

     

    December 28, 2024

     

    4,507

     

     

    281

     

     

    4,788

     

     

     

    Fifty-Two Weeks Ended

     

     

    AAP

     

    CARQUEST

     

    Total

    December 30, 2023

     

    4,484

     

     

    302

     

     

    4,786

     

    New

     

    41

     

     

    1

     

     

    42

     

    Closed

     

    (22

    )

     

    (18

    )

     

    (40

    )

    Converted

     

    4

     

     

    (4

    )

     

    —

     

    December 28, 2024

     

    4,507

     

     

    281

     

     

    4,788

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250225874494/en/

    Investor Relations Contact:

    Lavesh Hemnani

    T: (919) 227-5466

    E: [email protected]

    Media Contact:

    Nicole Ducouer

    T: (984) 389-7207

    E: [email protected]

    Get the next $AAP alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $AAP

    DatePrice TargetRatingAnalyst
    12/13/2024$45.00Market Perform
    BMO Capital Markets
    10/16/2024$40.00Neutral
    ROTH MKM
    10/15/2024$55.00Neutral → Outperform
    Wedbush
    3/19/2024$78.00Neutral
    Mizuho
    12/13/2023Mkt Perform
    William Blair
    11/16/2023$60.00 → $43.00Neutral → Underperform
    BofA Securities
    10/10/2023$55.00Market Perform
    TD Cowen
    7/10/2023$130.00 → $50.00Neutral → Underweight
    Atlantic Equities
    More analyst ratings

    $AAP
    SEC Filings

    See more
    • Amendment: SEC Form SCHEDULE 13G/A filed by Advance Auto Parts Inc.

      SCHEDULE 13G/A - ADVANCE AUTO PARTS INC (0001158449) (Subject)

      4/28/25 1:00:28 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • SEC Form DEF 14A filed by Advance Auto Parts Inc.

      DEF 14A - ADVANCE AUTO PARTS INC (0001158449) (Filer)

      3/21/25 4:28:27 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • SEC Form DEFA14A filed by Advance Auto Parts Inc.

      DEFA14A - ADVANCE AUTO PARTS INC (0001158449) (Filer)

      3/21/25 4:28:55 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary

    $AAP
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • BMO Capital Markets initiated coverage on Advance Auto with a new price target

      BMO Capital Markets initiated coverage of Advance Auto with a rating of Market Perform and set a new price target of $45.00

      12/13/24 7:20:54 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • ROTH MKM resumed coverage on Advance Auto with a new price target

      ROTH MKM resumed coverage of Advance Auto with a rating of Neutral and set a new price target of $40.00

      10/16/24 7:48:38 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Advance Auto upgraded by Wedbush with a new price target

      Wedbush upgraded Advance Auto from Neutral to Outperform and set a new price target of $55.00

      10/15/24 7:20:14 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary

    $AAP
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • EVP, Chief Financial Officer Grimsland Ryan P bought $8,140 worth of shares (200 units at $40.70), increasing direct ownership by 0.36% to 56,499 units (SEC Form 4)

      4 - ADVANCE AUTO PARTS INC (0001158449) (Issuer)

      3/31/25 6:18:56 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Director, President and CEO Okelly Shane M bought $55,185 worth of shares (1,500 units at $36.79), increasing direct ownership by 0.83% to 183,121 units (SEC Form 4)

      4 - ADVANCE AUTO PARTS INC (0001158449) (Issuer)

      3/12/25 4:05:04 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Director Lee Eugene I Jr bought $499,956 worth of shares (14,640 units at $34.15) (SEC Form 4)

      4 - ADVANCE AUTO PARTS INC (0001158449) (Issuer)

      3/10/25 4:06:34 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary

    $AAP
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Advance Auto Parts Inc.

      SC 13G/A - ADVANCE AUTO PARTS INC (0001158449) (Subject)

      12/9/24 6:02:26 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Amendment: SEC Form SC 13G/A filed by Advance Auto Parts Inc.

      SC 13G/A - ADVANCE AUTO PARTS INC (0001158449) (Subject)

      11/14/24 4:02:36 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Amendment: SEC Form SC 13G/A filed by Advance Auto Parts Inc.

      SC 13G/A - ADVANCE AUTO PARTS INC (0001158449) (Subject)

      11/14/24 1:22:34 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary

    $AAP
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Advance Auto Parts Announces Date for First Quarter 2025 Earnings Release and Conference Call

      Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, will report financial results for its first quarter ended April 19, 2025, before the market opens on Thursday, May 22, 2025. The company has scheduled a conference call and webcast to begin at 8:00 a.m. ET on Thursday, May 22, 2025. A live webcast will be available on the company's Investor Relations website (ir.AdvanceAutoParts.com). To join by phone, please pre-register online for dial-in and passcode information. Upon registering, participants will receive confirmation with call details and a registrant ID. A replay

      5/1/25 8:00:00 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Advance Auto Parts Opening New Stores After Completing Strategic Optimization of U.S. Retail Footprint

      Leading automotive aftermarket parts provider also investing to improve customer experience, increase parts availability and speed of service with same-day delivery Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced today that it has completed the store closure phase of its transformation plan and is entering its next phase of returning to growth. Optimization of the retail footprint was key to Advance's broader transformation plan to reposition the company for long-term success. Now, more than 75% of the Company's stores are in markets where the company has t

      3/26/25 6:00:00 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Leslie's, Inc. Announces Executive Leadership Changes

      Appoints Tony Iskander as Interim Chief Financial Officer and TreasurerPromotes Naomi Cramer to Chief Retail Operations and Talent Officer PHOENIX, March 17, 2025 (GLOBE NEWSWIRE) -- Leslie's, Inc. (("Leslie's", "we", "our", "its", or "Company", NASDAQ:LESL), the largest and most trusted direct-to-customer brand in the U.S. pool and spa care industry serving residential customers and pool professionals nationwide, today announced a series of senior leadership changes as part of the Company's ongoing work to support its transformation. Interim Chief Financial Officer Appointment Tony Iskander has been appointed Interim Chief Financial Officer (CFO) and Treasurer, effective March 14, 202

      3/17/25 5:00:00 PM ET
      $AAP
      $LESL
      Auto & Home Supply Stores
      Consumer Discretionary
      Other Specialty Stores

    $AAP
    Financials

    Live finance-specific insights

    See more
    • Advance Auto Parts Announces Date for First Quarter 2025 Earnings Release and Conference Call

      Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, will report financial results for its first quarter ended April 19, 2025, before the market opens on Thursday, May 22, 2025. The company has scheduled a conference call and webcast to begin at 8:00 a.m. ET on Thursday, May 22, 2025. A live webcast will be available on the company's Investor Relations website (ir.AdvanceAutoParts.com). To join by phone, please pre-register online for dial-in and passcode information. Upon registering, participants will receive confirmation with call details and a registrant ID. A replay

      5/1/25 8:00:00 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Advance Auto Parts Reports Fourth Quarter and Full Year 2024 Results

      Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, announced its financial results for the fourth quarter and full year ended December 28, 2024. "During 2024, we initiated transformative actions to reposition Advance for long-term success and value creation," said Shane O'Kelly, president and chief executive officer. "We strengthened our focus on the blended-box by divesting non-core assets, closing non-strategic stores and right-sizing our organization. Our supply chain and merchandising teams are accelerating efforts to provide faster access to thousands of parts acr

      2/26/25 6:30:00 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Advance Auto Parts Announces Date for Fourth Quarter and Full Year 2024 Earnings Release and Conference Call

      Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, will report financial results for its fourth quarter and full year ended December 28, 2024, before the market opens on Wednesday, February 26, 2025. The company has scheduled a conference call and webcast to begin at 8:00 a.m. ET on Wednesday, February 26, 2025. A live webcast will be available on the company's Investor Relations website (ir.AdvanceAutoParts.com). To join by phone, please pre-register online for dial-in and passcode information. Upon registering, participants will receive confirmation with call details

      2/5/25 8:00:00 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary

    $AAP
    Leadership Updates

    Live Leadership Updates

    See more
    • Leslie's, Inc. Announces Executive Leadership Changes

      Appoints Tony Iskander as Interim Chief Financial Officer and TreasurerPromotes Naomi Cramer to Chief Retail Operations and Talent Officer PHOENIX, March 17, 2025 (GLOBE NEWSWIRE) -- Leslie's, Inc. (("Leslie's", "we", "our", "its", or "Company", NASDAQ:LESL), the largest and most trusted direct-to-customer brand in the U.S. pool and spa care industry serving residential customers and pool professionals nationwide, today announced a series of senior leadership changes as part of the Company's ongoing work to support its transformation. Interim Chief Financial Officer Appointment Tony Iskander has been appointed Interim Chief Financial Officer (CFO) and Treasurer, effective March 14, 202

      3/17/25 5:00:00 PM ET
      $AAP
      $LESL
      Auto & Home Supply Stores
      Consumer Discretionary
      Other Specialty Stores
    • Advance Auto Parts Appoints Jeff Vining as General Counsel

      Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, today announced that it has appointed Jeff Vining as executive vice president, general counsel and corporate secretary, effective March 2, 2025. In this role, Mr. Vining will be responsible for all aspects of the Company's legal, corporate governance, and compliance functions. Jeff will report directly to Shane O'Kelly, president and chief executive officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250206973321/en/AAP), a leading automotive aftermarket

      2/6/25 4:15:00 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Advance Auto Parts Appoints Shweta Bhatia as Chief Technology Officer

      Advance Auto Parts, Inc. (NYSE:AAP), a leading automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, today announced that it has appointed Shweta Bhatia as executive vice president and chief technology officer, effective immediately. "Shweta's history of successfully executing transformational programs that focus on speed, efficiency, and providing quality solutions to customers will greatly contribute to the execution of our three-year financial plan," Shane O'Kelly, president and chief executive officer. "We welcome Shweta to our leadership team that is passionate about carrying out our decisive actions which will s

      1/13/25 8:00:00 AM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary

    $AAP
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Windom Brent was granted 23 shares, increasing direct ownership by 0.76% to 3,023 units (SEC Form 4)

      4 - ADVANCE AUTO PARTS INC (0001158449) (Issuer)

      4/29/25 8:45:23 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Director Torres Sherice was granted 50 shares, increasing direct ownership by 0.76% to 6,570 units (SEC Form 4)

      4 - ADVANCE AUTO PARTS INC (0001158449) (Issuer)

      4/29/25 8:44:20 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary
    • Director Smith Gregory L was granted 23 shares, increasing direct ownership by 0.76% to 3,023 units (SEC Form 4)

      4 - ADVANCE AUTO PARTS INC (0001158449) (Issuer)

      4/29/25 8:43:17 PM ET
      $AAP
      Auto & Home Supply Stores
      Consumer Discretionary