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Autopart International opens 3 Cincinnati stores
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By Counterman
Executives on AutoZone’s most recent earnings call were upbeat about the growth prospects for the company’s international stores.
AutoZone began publishing its international same-store sales numbers in September, along with its overall FY-2022 fourth-quarter results.
In the fourth quarter, AutoZone’s stores in Mexico and Brazil posted year-over-year same-store sales growth of nearly 15% on a constant-currency basis – compared to 1.7% for the company’s domestic stores.
In the first quarter of AutoZone’s fiscal-year 2023, which ended Nov. 18, same-store sales growth in Mexico and Brazil outpaced U.S. stores again. On a constant-currency basis, AutoZone’s international stores posted year-over-year same-store sales growth of nearly 11%, compared to 1.2% for its U.S. stores.
On AutoZone’s Dec. 5 conference call, CEO Bill Rhodes noted that “international has become a more important part of our growth story and an area where we are increasingly deploying capital.”
“We are very excited about the short- and long-term growth prospects of international,” Rhodes added. “Our expectations are we will continue to grow mature-store volumes both in DIY and DIFM and we plan to accelerate new-store openings over the next several years, ultimately getting to a minimum of 200 international new stores by 2028.”
During the first quarter, AutoZone said it opened five new stores in Mexico and four in Brazil. As of Nov. 18, the company had 6,316 stores in the United States, 745 in Mexico and 104 in Brazil, for a total store count of 7,165.
“These [international] businesses had impressive performance last quarter and should continue to grow at a robust pace for the remainder of fiscal 2024,” said Phil Daniele, who will succeed Rhodes as CEO in January. “We are leveraging many of the learnings we have in the U.S. to refine our offerings in Mexico and Brazil.”
Although AutoZone isn’t breaking out bottom-line data for its international stores, CFO Jamere Jackson provided some insight on profit margins during the question-and-answer session with analysts.
“From a margin standpoint, we’re very pleased with the progress that we’re making on margins – both gross margins and total operating margins,” Jackson said. “In our business in Mexico, which is much more mature than what we have in Brazil, we’ve been very pleased with the actions we’ve been able to take on the merchandising side of the business, and that’s given us a very healthy gross margin in that business.”
Considering “the inherent advantages” of low-cost labor, Jackson added, “it’s a very attractive operating-margin structure in Mexico, and we believe as our business in Brazil matures and scales over time that we’ll see similar advantages in Brazil.”
However, as AutoZone aggressively invests to open new stores in Brazil, Rhodes cautioned that “we’re still losing money there.” Those new stores “are causing a pretty good headwind,” Rhodes added, but such challenges are “not unanticipated.”
While Rhodes and Daniele made a point to highlight the same-store sales growth in Mexico and Brazil during the call, Daniele emphasized that “the No. 1 focus for the remainder of the year will be on growing [market] share in our domestic commercial business.”
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By Counterman
Carquest by Advance has opened its newest store in Amelia Court House, Virginia, located at 15203 Patrick Henry Hwy.
It’s the fourth Carquest store owned by Magee Auto Parts LLC, with the Magee group also operating locations in Toano, Wakefield and Waverly, Virginia.
Magee’s family has been in the auto parts business for more than 40 years, with Trey’s grandfather having opened his first Carquest location in 1981. Since then, his family has been a friendly, trusted resource for automotive parts and expert knowledge in communities across southern Virginia.
The new Carquest by Advance caters to do-it-yourselfers and professional customers across Amelia County, offering quality, name-brand automotive products including DieHard auto batteries. Motorists also have access to free curbside services provided by the store team, including battery testing, battery installation and wiper-blade installation. The store also offers heavy-duty and agricultural products, including filters and custom-length hydraulic hoses.
“We’re proud to grow our business with the opening of our new Carquest by Advance,” said Trey Magee. “The community has given us a wonderful reception since we opened our doors, and we’re excited to be here. Our promise is to deliver the best service, advice and parts to every customer who walks through our building. Whether you’re a DIYer, a repair shop owner or a local farmer, we’re going to find the parts and products you need to complete your job.”
The Carquest by Advance first opened on Aug. 28, with Magee employing five team members at the store.
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By Son Auto Parts
Hello everyone, we have family operated stores in the Gardena and Los Angeles areas. We also acquired a rebuilder and we can rebuild the following items: Power Steering Pump, Steering Gear Boxes,Rack & Pinions, Steering Control Valve, Steering Power Cylinders, Hydro Booster, Hydro-Max, Hy Power, Power Brake Booster, Treadle Vac, Proportioning Valves, Brake Calipers, Alternator, Starter, Generator and CV Axles.
Jobber Store 1: Son Auto Parts Co, located 11957 S. Vermont Ave, Los Angeles Ca 90044 (323)756-1303, (323)756-1304 Email: [email protected]
Jobber Store 2: Son Auto Parts #2 : 1101 W. El Segundo Blvd, Gardena Ca 90247 (323)757-9946 Email: [email protected]
Jobber Store 3: Son Auto Parts #3 : 5600 S Central Ave, Los Angeles Ca 90011 (323)231-7212 Email: [email protected]
Rebuilder : S A Auto Rebuilders LLC. 5966 Maywood Ave, Huntington Park Ca 90255 (323)582-1738 Email: [email protected] Shipping Available!!
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By Counterman
Effective June 12, select Auto Plus locations became Factory Motor Parts (FMP) stores, FMP announced on its website.
The sale comes after Auto Plus won bankruptcy-court approval to sell most of its locations to FMP after the company disqualified a different bid under suspicion of impropriety,
link hidden, please login to view Earlier this year, Icahn Enterprises announced that Auto Plus was filing for Chapter 11 bankruptcy protection. In a news release, Icahn Enterprises (IEP) blamed ”lessened demand, supply chain disruptions, an inflationary environment and the effects of COVID-19” on the parts distributor’s struggles.”
“Since acquiring Auto Plus, IEP has invested significantly in transformation and restructuring initiatives and has loaned significant amounts to Auto Plus but has obviously been disappointed in the results of these investments and the continued losses that Auto Plus has experienced,” the company said in January. “As a result, IEP has determined that it would no longer be prudent to continue to loan money to Auto Plus at this juncture unless done in connection with a restructuring process.”
FMP’s new locations will have inventories for all makes and all models combined with aftermarket brands as a result of the transaction, according to Factory Motor Parts.
Founded in 1945 as Elliott Auto Supply Co., FMP has grown from a small, single location in Minneapolis to more than 300 locations in 19 states. The name was acquired from its participation in the former Chrysler Mopar Distribution network of the 1960s.
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By Counterman
BendPak has opened a new 90,000-square-foot building on its Alabama campus, nearly doubling the size of its East Coast logistics and distribution center.
The expansion has enabled the company to dramatically increase its inventory capacity and call-center staffing to provide faster order processing and shorter lead times for customers in the eastern half of the United States, according to Santa Paula, California-based BendPak.
Shortly after establishing its original 100,000-square-foot Alabama facility in early 2020, BendPak bought the adjoining property and began work on the new building. The state-of-the-art facility features warehouse space, multiple docks, covered flatbed staging and loading areas, administrative offices and a call center.
“Opening this new facility is part of our ongoing efforts to maximize product availability while minimizing time-in-transit to customers across the United States,” said Rudy Diaz, BendPak chief operating officer. “It’s fully stocked with the most popular lifts and shop equipment from across our brand lineup, including BendPak, Ranger, QuickJack, Cool Boss and Dannmar, all supported by a dedicated team of local employees.”
The distribution center is strategically located in the heart of one of America’s largest logistic hubs in Mobile County, Alabama. With easy access to three major interstates and five Class I railroads, it offers next-day or two-day delivery to a large portion of BendPak’s customer base in the eastern United States. BendPak’s California operation handles shipping and order fulfillment services for some 15 western states.
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