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Advance Auto Parts, Inc. (AAP) is a leading provider of automotive aftermarket parts in North America, catering to both professional installers and do-it-yourself (DIY) customers. The company sells a wide range of automotive parts, accessories, and maintenance items, including products containing hazardous materials. AAP operates primarily under the trade names Advance Auto Parts and Carquest, with a significant presence in the United States, Canada, Puerto Rico, and the U.S. Virgin Islands.
- Automotive Aftermarket Parts and Accessories - Offers a comprehensive selection of parts and accessories for vehicle maintenance and repair, serving both professional installers and DIY customers.
- Brakes - Provides a variety of brake components, which have shown significant growth in recent years.
- Batteries - Supplies automotive batteries, a leading growth category in recent fiscal years.
- Filters - Offers a range of filters, contributing to recent growth trends.
- Engine Management - Includes products for engine management, which have been a key growth area.
- Given your current blend of tariffs (approximately 30% on 40% of sourced products), how will your pricing strategy and vendor mitigation efforts balance to protect margins in the face of continued tariff volatility?
- With store optimization driving $51 million in liquidation sales, can you detail the effectiveness of this initiative in transferring sales to remaining stores, especially in the Pro channel, and how it will impact overall comparable sales?
- As you consolidate distribution centers from 38 to 12 with a new routing framework, what specific KPIs and timelines are you targeting to ensure these supply chain transformations deliver the promised cost savings and labor productivity improvements?
- Considering that the DIY channel remains pressured despite your initiatives, what concrete steps are being taken to boost DIY sales performance, and how do you foresee these efforts influencing long-term market share and store profitability?
- With procurement cost savings of around 50 basis points being a key lever for margin improvement, how sustainable is this reduction over time, and what measures are in place to counter vendor financing challenges that could impact future cost structures?
Competitors mentioned in the company's latest 10K filing.
Company | Description |
---|---|
The company operates in both the professional and DIY markets of the automotive aftermarket industry and competes with national and regional chains of automotive parts stores, including this competitor. The principal methods of competition include brand recognition, customer service, product offerings, availability, quality, service with speed, price, and store location. | |
NAPA | This competitor is mentioned as one of the national and regional chains of automotive parts stores that compete with the company in the professional and DIY markets of the automotive aftermarket industry. |
The company identifies this competitor as one of the primary competitors in the automotive aftermarket industry, competing in both professional and DIY categories. | |
The Pep Boys-Manny, Moe & Jack | This competitor is listed among the national and regional chains of automotive parts stores that compete with the company in the automotive aftermarket industry. |
Auto Plus (formerly Uni-Select USA, Inc.) | The company mentions this competitor as one of the primary competitors in the automotive aftermarket industry, highlighting the competitive landscape in both professional and DIY markets. |
Recent press releases and 8-K filings for AAP.
- Annual Meeting held on May 15, 2025 with proxy votes addressing key matters, including board nominee elections, amendment of the 2023 Omnibus Incentive Compensation Plan to increase shares by 2,170,000, executive compensation, auditor appointment, and a shareholder proposal on executive stock retention.
- The Board of Directors election saw nominees receiving vote counts in the range of approximately 43-49 million votes with significant broker non-votes recorded for each nominee.
- The proxy votes also resulted in the ratification of Deloitte and Touche LLP as the independent auditor for 2025 and favorable outcomes on executive compensation proposals.