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LKQ Corporation Announces Results for Fourth Quarter and Full Year 2019 and Guidance for 2020


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    • By AutoZone
      MEMPHIS, Tenn. , Feb. 27, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $3.9 billion for its second quarter (12 weeks) ended February 10, 2024 , an increase of 4.6% from the second quarter of fiscal 2023 (12 weeks). Same store sales, or sales for our domestic and
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    • By Counterman
      Northwood University recently announced its 2024 Class of 20 Under 40 honorees. 
      Established last year, the 20 Under 40 program recognizes NU alumni who are ambitious professionals doing great things in their careers, organizations or communities.
      “Last year’s inaugural 20 Under 40 event was a phenomenal success in terms of alumni engagement and participation, and most importantly, in recognizing the impact NU alumni are making locally and around the world,” stated Julie Adamczyk, senior alumni and engagement officer. “This year, we received more than 230 nominations. This is a testament of how many alumni are deserving of this recognition — narrowing it down to 20 was a difficult job.”
      The 2024 Class of 20 Under 40 includes the following individuals along with their town of residence (located within Michigan unless otherwise noted); graduation year; and current professional roles:
      Nick Andres of Atlanta, 2019, MBA 2020, strategic planning senior analyst – electric vehicles, Cox Automotive Yan Bowers, of Okemos, 2012, senior manager, Plante Moran Ethan Bregger, of New Boston, 2011, MBA 2017, sales manager – retail, Tenneco Inc. Jackie Brooks, of Denver, 2006, CEO, Loudr Corey Ferris, of Midland, 2006, director of asset management, Hantz Financial Services Inc. Lane Fortinberry, of Clarkston,2008, founder/owner, Formatic Digital Lauren Griewski, of Cornwall, New York, 2007, senior vice president of strategic partnerships and global agencies, Rokt Andrew Hanagan, of Oak Park, 2015, realtor, Good Company Realty Tony Johnson, of Valrico, Florida, 2015, MBA 2016, director of operations, Domino’s Nathan Lindstrom, of Odenton, Maryland, 2008, director – dealer policy, Toyota Motor North America Paul Mersino, of Canton, 2005, president/CEO, Butzel Jake Riepma, of Dallas, 2015, on-air host, Chat Sports Bryce Rucker, of Ferndale, 2009, attorney and business advisor Nathan Schick, of Birmingham, 2023, general sales manager and marketing manager, Auto Europe Inc.  Autumn Schwalbe, of Ypsilanti, 2020, performance parts product specialist and planner, Ford Motor Company Ann Marie Taepke, of Apex, North Carolina, 2007, chief marketing officer, Holderness Family Productions DeAnte Thompkins, of Troy, 2010, market director, Thrivent Tray Thompson, of Arlington, Texas, 2016, manager – corporate social responsibility, Dallas Mavericks Kristi Wagner, of Brooklyn, New York, 2006, director – partnership activation, Major League Baseball David Wilson, of Preston, Maryland, 2008, president/CEO Preston Automotive Group  “From the automotive industry to professional sports organizations, this year’s class features an incredible community of entrepreneurial leaders who are driving economic and social progress in their local communities and around the U.S. and world,” Adamczyk said.  
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    • By Counterman
      Genuine Parts Co. (GPC) reported full-year 2023 sales of $23.1 billion, a 4.5% year-over-year increase.
      Net income was $1.3 billion, or $9.33 per diluted share, an increase of 12.3%.
      Full-year net sales in the Automotive Parts Group, which includes NAPA Auto Parts, were $14.25 billion, up from $13.67 billion in 2022.
      Fourth-quarter automotive sales were up nearly 1% to $3.5 billion.
      While GPC’s international automotive businesses posted positive sales growth in local currency, the U.S. automotive segment saw a dip in sales, GPC President and COO Will Stengel noted during the company’s Feb. 15 conference call.
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      Coinciding with the release of its full-year and fourth-quarter 2023 financial results, GPC said the company is launching a global restructuring “to better align the company’s assets and further improve the efficiency of the business.”
      The restructuring includes a voluntary retirement offer in the United States, along with “a rationalization and optimization of certain distribution centers, stores and other facilities,” according to the company.  
      Through the restructuring, GPC said it expects to realize approximately $20 million to $40 million of savings in 2024, and approximately $45 million to $90 million on an annualized basis. The company also expects to incur costs of approximately $100 million to $200 million related to the restructuring efforts in 2024 and will report the restructuring costs as a non-recurring expense.
      “The primary objective of the global program is to continue to simplify and streamline our operations consistent with our overall business strategy,” Stengel explained during the conference call. “When we simplify, we increase the speed of local service, deliver operational productivity, improve the efficiency of our teams and reduce our overall cost to serve.”
      Stengel noted that the restructuring initiative “is a similar playbook to our previous GPC program implemented in fall 2019 that delivered positive results.”
      “Aspects of the restructuring are already in flight, and some will take place in the months ahead,” Stengel added.
      Focus on NAPA
      Stengel talked at length about efforts to revitalize GPC’s NAPA Auto Parts business.
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      Adjustments to “certain key suppliers to improve fill rates” boosted fourth-quarter “category trends,” Stengel said, adding that “we’re encouraged by the positive momentum.”
      “Second, our in-store service levels measured by on-time delivery to customers have significantly improved as a result of increased focused on last-mile operating disciplines,” Stengel said.
      Stengel noted that efforts to improve commercial sales growth are “ongoing.” GPC recently appointed Tom Skov to the newly created role of executive vice president, sales & store operations, North America.
      “He’s an automotive-parts expert and has a deep understanding of our customers field sales and store operations,” Stengel asserted. “We’re excited for the strong leadership Tom will bring to our sales and store operations field teams.”
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    • A-premium Auto Parts:5% OFF with Code GM5.
    • By Counterman
      BBB Industries on Feb. 12 announced two strategic leadership changes. 
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      “Her unique blend of technical expertise, detailed executional excellence and dedication to the company’s core values make her the right executive to lead TERREPOWER through the next stage in its evolution,” the company said.
      “BBB is deeply committed to exceeding the expectations of our customers, colleagues and investors,” added Duncan Gillis, CEO of BBB Industries. “These key changes within our senior leadership team reflect our relentless pursuit of innovation, growth and competitive excellence.”
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