Leading automotive retailer Advance Auto Parts Inc. (AAP - Free Report) has opened its 4,000th store. The store is based in Montgomery, N.Y., a strategic location to support the company to expand its footprint.
Advance Auto’s newest store will provide customers with a wide range of parts and recognized national brands along with several free services. The store’s team members will install windshield wipers for free, provide complimentary check of a vehicle’s electrical system and old battery, and will also install new battery with purchase of most vehicles at no extra cost.
In addition, Advance Auto’s new store will supply parts to local commercial customers including professional mechanics and garages. It will also recycle used motor oil and batteries, thus preventing any environmental hazards.
Advance Auto has increased its store count by 3,000 units since 1995 either through opening stores or by acquisitions. The automotive retailer, which had started with only 3 stores in Virginia, now serves millions of customers across 39 states, Puerto Rico and the Virgin Islands. Advance Auto now focuses on expanding its business and better serving its customers.
During the second quarter of 2013, Advance Auto opened 26 stores, including 5 Autopart International stores, and closed 5 stores. As of Jul 13, 2013, the company’s total store count stood at 3,990, including 227 Autopart International stores.
Advance Auto saw an 18.7% increase in earnings to $1.59 per share in the second quarter of its fiscal year ended Jul 13, 2013, from $1.34 in the same quarter of prior fiscal year. It beat the Zacks Consensus Estimate of $1.48 per share. Revenues went up 6.1% to $1.55 billion, missing the Zacks Consensus Estimate of $1.59 billion.
Advance Auto carries a Zacks Rank #3 (Hold).
Another automotive retailer AutoNation Inc. (AN - Free Report) reported all-time record earnings from operations in the second quarter of 2013. The company posted a 10.6% rise in earnings per share to 73 cents in the second quarter from 66 cents in the same quarter of 2012. However, earnings per share missed the Zacks Consensus Estimate by a penny.
Other stocks that are performing well in the industry where Advance Auto operates include O’Reilly Automotive Inc. (ORLY - Free Report) and CarMax Inc. (KMX - Free Report) . Both carry a Zacks Rank #2 (Buy).