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Advance Auto Parts Reports Third Quarter 2019 Results
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By NAPA
Christian Eckes returned to victory lane at Atlanta Motor Speedway (AMS) in thrilling fashion to give McAnally-Hilgemann Racing the organization’s first NASCAR Craftsman Truck Series (NCTS) victory on Saturday afternoon. The driver of the No. 19
link hidden, please login to view Chevrolet Silverado RST reclaimed the points lead after racking up 50 points and capturing his second stage win of the year. The victory gives Eckes and his team a virtual lock to the NCTS playoffs for the third time in his career.
The Middletown, N.Y., native started the 137-lap event from the fourth position after inclement weather washed out qualifying on Friday afternoon. Eckes boldly asserted himself as a threat by taking the lead on the opening lap and dominated Stage 1. The NAPA Auto Care Chevrolet paced the field on the outside of the AMS high banks until a caution flew on lap 24. Crew chief Charles Denike kept Eckes on track to go for the stage win, and the call paid off. Eckes held off all challengers on lap 30 to earn 10 points and one playoff point with his second stage win of 2023 after leading every lap.
Eckes pitted under the stage caution for right side tires and restarted 20th on lap 38 as the running order flip-flopped due to contrasting pit strategies. Eckes stayed in the lead draft for the majority of Stage 2 and ran as high as ninth but was scored 14th at the end of the segment on lap 60. Denike put four tires on Eckes’ Chevrolet, which allowed him to restart 11th on lap 68. Another quick caution on lap 79 offered Eckes the chance to top off with fuel for the final run, but he was caught speeding on pit road.
Eckes started his march back to the front from 28th position on lap 84 and took advantage of every opportunity to claw his way back into contention. A restart on lap 103 saw him rocket to 11th, which included a four-wide maneuver to cut through the pack. Eckes worked the less-preferred bottom lane to perfection as he capitalized on the restarts to crack the top five on lap 121, and he claimed the runner-up spot on lap 123. A late caution set up an overtime restart. Eckes elected to take the bottom of the front row, which proved to be the winning decision. Eckes traded the lead with fellow Chevrolet driver Nick Sanchez on the overtime restart and used a surge of momentum on the final lap to pull alongside for the lead down the backstretch. Eckes held the lead on the final lap as a caution waved coming out of Turn 4 to secure the victory, his third playoff berth, and his first victory at AMS.
“Just really happy,” Eckes said. “Thanks to Charles (Denike), everybody on this team. They work so damn hard and this is what makes it all worth it. Thanks to NAPA, Chevrolet, everybody. I’m pumped. It’s going to be a really good year.
“I think this is just what I kind of figured was going to happen coming here. I knew the potential of Charles (Denike), and I knew the potential of the race team, and Bill’s passion to win, so it made my decision to come here really easy.”
Start / Finish: 4 / 1
Points Standing / Total: 1st / 151 pts.
Next Race: Saturday, March 25, Circuit of the Americas, Austin, Texas
How to Watch or Listen: FS1, MRN, SiriusXM
NAPA:
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By Counterman
Lafayette Warehouse has joined forces with Auto-Wares Group of Companies.
Like Auto-Wares, Lafayette Warehouse, Inc. (LWI) is built on long-lasting relationships with customers, employees and suppliers that have grown their businesses.
Mike Brown will lead Lafayette Warehouse as general manager. Pat James and the current location managers will continue to lead the Lafayette Warehouse location teams going into the future.
The Lafayette Warehouse customers will be introduced to the Alliance exclusive brands and the Auto Value Parts Store and Certified Service Center programs. In addition to increased inventory and improved Indiana logistics, this acquisition will make full-line AC Delco and Mopar Original Equipment lines available to all Auto-Wares customers in the coming months.
Lafayette Warehouse has four large locations that will improve Auto-Wares logistics in Northwest and Central Indiana:
Lafayette Auto Supply Distribution Center, 1501 Kepner Dr., Lafayette Lafayette Auto Supply, 118 S. 4th Street, Lafayette Kokomo Auto Supply, 1299 Home Ave., Kokomo NWI Auto Supply, 755 E. 82nd Ave., Merrillville “First and foremost we want to thank our employees and customers for the success we have had over the past 96 years,” said Pat James, president of Lafayette Warehouse. “We could not have done it without all their support. Auto-Wares presented an opportunity for our legacy to continue by offering great opportunities for our current employees and customers. We also would like to thank Auto-Wares for choosing us to be their next partner.”
Auto-Wares CEO Todd Leimenstoll added: “All of us at Auto-Wares are excited to have Lafayette Warehouse team join the Auto-Wares Group of Companies. Lafayette Warehouse has a very successful history and tremendous reputation. I am thankful for the trust that Pat James and the James family have placed in us. We look forward to the next chapter in growing the company.”
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By Counterman
Advance Auto Parts reported net sales of $11.2 billion for 2022, up 1.4% from 2021, while comparable-store sales were flat.
Fourth-quarter net sales increased 3.2% to $2.5 billion, while comparable-store sales were up 2.1%.
“In 2022, our team members once again worked to serve our customers with relentless focus and dedication,” said Tom Greco, president and chief executive officer. “Despite challenges throughout 2022, we made progress on our strategic initiatives, including the expansion of our footprint, further strengthening of our DieHard brand and improved customer loyalty. However, we are not satisfied with our results in 2022 and are taking decisive actions to improve performance in 2023. Importantly, the disciplined inventory and pricing actions we discussed last quarter to adapt to an evolving competitive landscape contributed to stronger results in Q4 and we ended the year with positive momentum.
“We expect to see further improvements in inventory availability throughout 2023, which we view as the single most important driver to accelerate topline growth. After several years of significant investments in complex transformation initiatives and the majority of the integration behind us, we’re now able to focus more time and resources on leveraging our differentiated asset base and improving execution to drive long-term shareholder value.”
Advance’s 2023 guidance is for net sales between $11.4 billion and $11.6 billion, and year-over-year growth in comparable-store sales between 1% and 3%.
“In 2023 we are shifting to GAAP as our reporting method for annual guidance,” said Jeff Shepherd, executive vice president and chief financial officer. “As the GPI integration nears completion, we expect transformation costs to be less impactful, which reduces the need for non-GAAP adjustments. In addition, we believe that focusing on GAAP results will improve the understanding and comparability with our closest peers. In 2023 we are elevating our performance to improve topline growth and share gains while delivering operating income margin expansion.”
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