Leading automotive retailer
Advance Auto Parts Inc.
) has opened its 4,000th store. The store is based in Montgomery,
N.Y., a strategic location to support the company to expand its
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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
Advance Auto carries a Zacks Rank #3 (Hold).
Another automotive retailer
) 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.
). Both carry a Zacks Rank #2 (Buy).