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Advance Puts Pets In The Driver’s Seat For The Holidays


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Consumers can’t imagine holiday road trips without their furry family members. In fact, 78% of pet owners travel with their pets each year, and 68% of those travel between 100 and 500 miles with their pets, according to a recent TripsWithPets survey.

That’s why Advance Auto Parts says it is creating the “purrfect” surprise experience for “paw-rents” this holiday season.

This holiday season, pups and their paw-rents are invited to stop by a participating Advance Auto Parts store for road-trip essentials and a free gift, as modeled by Sammy the golden retriever.

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Developed with the 23 million households who adopted pets during the pandemic in mind, from Dec. 13-24, participating Advance retail locations will welcome road trippers to pull off the highway and treat their four-legged co-pilot to a free bandana and fresh water while grabbing any pet and personal travel and road-trip essentials they need to complete their holiday journey.

“Advance has always been a trusted location for motorists, which is why we wanted to elevate our in-store experience to meet the needs of this year’s traveling consumer,” said Jason McDonell, Advance’s executive vice president, merchandising, marketing and eCommerce. “Many consumers are eager to reunite with family this year, and we want to support them with care and speed every mile of the way. Creating a space for furry family members while motorists handle pre-road trip maintenance, last-minute gifting or one of our free curbside services along the way are all part of that mission.”

Paw-rents are encouraged to spread holiday cheer and snap a photo of their dog, cat, bunny or other “pawsome” co-pilot rocking their new accessory using the hashtag #AdvancePups for the chance to score some additional pet products and gift cards.

Advance’s latest seasonal initiative comes as part of the retailer’s larger purpose to help consumers both “advance their holiday checklist” via deals on gifts that “get ya somewhere” and dependable services that get them to their holiday destinations safely. This includes free curbside services such as battery testing and installation, wiper-blade installation and “Check Engine” light scanning.

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    • By Advance Auto Parts
      RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider, the official auto parts retailer of NASCAR, and official partners of the NTT INDYCAR SERIES and Indianapolis Motor Speedway, is kicking off the summer travel season by offering its Speed Perks loyalty rewards members the chance to win a bucket-list motorsports experience to “Do the Double.”
      This press release features multimedia. View the full release here:  link hidden, please login to view
      On May 26, Advance will send one winner and their guest on a free VIP experience to attend the 108th running of the famed Indianapolis 500 before traveling to North Carolina to watch the Coca-Cola 600, one of NASCAR’s crown jewel events, held at Charlotte Motor Speedway. Fans can enter for their chance to Do the Double from May 1-12 at  link hidden, please login to view. Race fans can enter up to three times per day during the program.
      To be eligible to win, entrants must be members of Advance’s Speed Perks loyalty rewards program. Speed Perks is free to join, and upon signing up, new members will receive $5 off their first in-store or online purchase of $20 or more. Race fans can sign up for Speed Perks at  link hidden, please login to view.
      For race car drivers, doing the double involves competing in both the Indianapolis 500 and Coca-Cola 600 in the same day. It is one of the most challenging feats for any race car driver to attempt, given the significant differences between open-wheeled INDYCAR SERIES cars and NASCAR stock cars. In fact, only four drivers have completed the double since 1994.
      This includes three-time NASCAR Cup Series™ champion Tony Stewart, who won the 1997 INDYCAR SERIES title prior to beginning his hall-of-fame NASCAR career. Stewart is partnering with Advance on  link hidden, please login to view and is the perfect ambassador for the program.
      Stewart has done the double twice. His first attempt came in 1999 when he became the first driver to complete both races in the same day, finishing ninth and fourth, respectively, in the Indianapolis 500 and Coca-Cola 600, driving a total of 1,090 miles.
      Stewart repeated this feat in 2001 and bettered his mark from 1999. He finished on the lead lap in sixth at the Indianapolis 500 before jetting off to Charlotte for the Coca-Cola 600. He improved that finish as well, coming home third in the 600-miler. Stewart completed all 1,100 miles – breaking his own record for most racing miles driven in a single day.
      “This is the chance of a lifetime for a fan to also complete the double by having a front-row seat at the Indianapolis 500 and Coca-Cola 600,” Stewart said. “Advance Auto Parts has put together a fantastic program that is truly unique. Doing the double is history in the making and thanks to Advance, a fan and their guest will get to experience it all in real time. They’ll both be able to say, ‘I was there.’”
      “Historically, doing the double has been a journey reserved for only the world’s most talented and dedicated race car drivers, like Advance brand partner Tony Stewart,” said Junior Word, Advance’s executive vice president, U.S. stores. “Now, one lucky Speed Perks member will have the unique opportunity to ‘get in the driver’s seat’ to experience their own version of the double. Advance is thrilled to work alongside our partners at NASCAR, INDYCAR and Indianapolis Motor Speedway to give two race fans the memory of a lifetime.”
      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 30, 2023, Advance operated 4,786 stores and 321 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,245 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  link hidden, please login to view.

      View source version on  link hidden, please login to view:  link hidden, please login to view
      Investor Relations:
      Elisabeth Eisleben
      T: (919) 227-5466
      E: [email protected]
      Media Relations:
      Darryl Carr
      T: (984) 389-7207
      E: [email protected]
       

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    • By Counterman
      In this aftermarketNews Executive Interview, Johannes Crepon, PDM Automotive Co-Founder & CEO, discusses the company’s platform, how it helps parts suppliers keep their product data up to date, how the use of AI technology makes e-commerce easier for suppliers and distributors, what the company has planned for this year, and more.
      aftermarketNews: PDM Automotive provides commerce software for auto parts suppliers, manufacturers, resellers and distributors. Give us a brief overview of how aftermarket companies have found partnering with PDM most beneficial.
      link hidden, please login to view Johannes Crepon: The genesis of PDM Automotive was rooted in my own experiences and challenges as the founder of Velocity Automotive, an ecommerce company that sells parts for American cars throughout Europe. At Velocity, we faced difficulties connecting with suppliers, managing product data, and ensuring brand visibility. Recognizing these industry-wide issues, I started PDM Automotive to increase efficiency in the automotive aftermarket through seamless connectivity between suppliers and retailers.
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      AMN: What do you want the automotive aftermarket to know about PDM Automotive? 
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    • By Advance Auto Parts
      Advance Auto Parts Appoints Three New Independent Directors
      03/11/2024   Enters into Cooperation Agreement with Third Point LLC and Saddle Point Management L.P.
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      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 30, 2023, Advance operated 4,786 stores and 321 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,245 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 
      link hidden, please login to view. 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,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about our strategic initiatives, operational plans and objectives, corporate governance, board performance, director nominees at the 2024 annual meeting of stockholders, expectations for economic conditions, future business results and future financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect our 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, factors related to the company’s leadership transition, the timing and implementation of our initiatives, our potential divestiture of Worldpac and the company's Canada business, our ability to hire, train and retain qualified employees, deterioration of general macroeconomic conditions, the highly competitive nature of our industry, demand for our products and services, complexities in our inventory and supply chain and challenges with transforming and growing our business. Please refer to “Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by our 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.

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    • By Advance Auto Parts
      Advance Auto Parts Reports Fourth Quarter and Full Year 2023 Results
      02/28/2024   RALEIGH, N.C.--(BUSINESS WIRE)-- 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 30, 2023.
      “As we closed out 2023, we continued to act with a sense of urgency to stabilize the business and position the company to return to profitable growth,” said Shane O'Kelly, president and chief executive officer. “Our full year results are well below our expectations, and we are focused on instilling greater discipline and accountability both in the fundamental business and in how the organization executes across the board. In addition to the operational improvements we are implementing, we are strengthening internal controls and enhancing the quality of our accounting information to help better inform how we drive the business forward.
      “We continue to advance our ongoing operational and strategic review of the business, including the separate sales processes for Worldpac and our Canadian business. We have streamlined and reorganized the company’s leadership structure and have made several important new hires, including the appointments of Ryan Grimsland as Chief Financial Officer and Elizabeth Dreyer as Chief Accounting Officer. Building on the $150 million in annualized SG&A reductions our team executed in the fourth quarter, we recently launched an initiative to eliminate costs related to our indirect spend by an additional $50 million on an annualized basis. We are also moving forward with the consolidation of our supply chain to a single, unified network to create efficiencies and better serve customers. Looking ahead, we are committed to driving enhanced value for shareholders by executing on the fundamentals of our business – focusing on the customer, investing in our frontline and strengthening our competitive position.”
      Fourth Quarter and Full Year 2023 Results (1)
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      The company's Gross profit decreased 11.9% from the fourth quarter of the prior year to $950.8 million or 38.6% of Net sales compared with 43.6% in the prior year quarter. This result reflects both business performance and atypical drivers, primarily attributable to a change in inventory related items and elevated supply chain costs. The company's full year Gross profit was $4.5 billion, or 40.1% of Net sales, representing a 414 basis points decrease from the prior year primarily driven by inventory related items and costs not fully covered by pricing actions.
      The company's SG&A was $999.4 million in the fourth quarter, or 40.6% of Net sales compared with 38.8% for the prior year quarter. This was primarily driven by a year over year increase in occupancy costs and store labor. The company's full year SG&A was $4.4 billion, or 39.1% of Net sales compared with 38.2% in the prior year.
      The company's fourth quarter Operating loss was $48.6 million, or (2.0)% of Net sales compared with the fourth quarter of the prior year Operating income of $119.3 million or 4.8% of Net sales. The company's full year Operating income was $114.4 million, or 1.0% of Net sales, compared with $670.3 million, or 6.0% of Net sales, in the prior year.
      The company's effective tax rate in the fourth quarter of 2023 was 42.3%. The company's Diluted loss per share was $0.59 compared with Diluted earnings per share of $1.39 in the fourth quarter of the prior year. The company's effective tax rate for full year 2023 was 6.6%. The company's 2023 Diluted earnings per share was $0.50 compared with $7.65 in the prior year.
      Net cash provided by operating activities was $0.3 billion for the full year 2023 versus $0.7 billion for the prior year. The decrease was primarily driven by lower Net income and working capital. Free cash flow for the full year 2023 was $43.7 million, compared with $312.5 million for the prior year.
      During management’s review, the company identified issues with certain previously reported financials. All comparisons are based on the corrected historical results as depicted in the financial tables herein, which include the correction of non-material errors in previously reported results.
      The company filed a Form 12b-25 with the Securities and Exchange Commission and disclosed that it expects to file its Form 10-K prior to the expiration of the extension period.
      (1) All comparisons are based on the same time period in the prior year. Comparable store sales include locations open for 13 complete accounting periods and excludes sales to independently owned Carquest locations.
      Capital Allocation
      On February 13, 2024, the company declared a regular cash dividend of $0.25 per share to be paid on April 26, 2024 to all common stockholders of record as of April 12, 2024.
      Subsequent Events
      On February 26, 2024, the company entered into an amendment to its revolving credit facility to enable certain addbacks to financial covenants for specific write-downs of inventory and vendor receivables. As of December 30, 2023, considering the amendment, the company was in compliance with the credit facility’s financial covenants.
      Full Year 2024 Guidance (1)
      "In 2024, we are refining our operational improvement plans and building on the decisive actions we have taken to turn around the company’s performance. We are committed to improving overall productivity and taking a disciplined approach to reducing expenses, which will support our focus on investing in our team members. Our 2024 full year guidance is reflective of the steps we must take to reset the business and solidify our foundation for the long term," said Ryan Grimsland, executive vice president and chief financial officer.

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