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AutoZone 3rd Quarter Total Company Same Store Sales Increase 0.9%; Domestic Same Store Sales were flat; EPS Increases to $36.69
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By AutoZone
MEMPHIS, Tenn. , Aug. 28, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas , will release results for its fourth quarter ended Saturday, August 31, 2024 , before market open on Tuesday,
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By Advance Auto Parts
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 second quarter ended July 13, 2024.
“Our team delivered positive comparable sales growth while navigating a challenging demand environment during the second quarter. I would like to thank the team for their hard work and dedication to serving our customers,” said Shane O’Kelly, president and chief executive officer. “We continue to make progress on our decisive actions with an increased focus on the Advance blended box. This morning, we announced the sale of Worldpac for $1.5 billion. This transaction is a critical milestone in our turnaround as it enables us to strengthen our balance sheet and streamline our focus. The next chapter of our strategic and operational review will now focus on the remaining Advance business, with the goal of improving our sales trajectory and the productivity of all our assets to deliver stronger returns for our shareholders.”
Second Quarter 2024 Results (1,2)
Second quarter 2024 net sales totaled $2.7 billion, which was flat compared with the second quarter of the prior year. Comparable store sales increased 0.4%.
The company's gross profit decreased 2.3% to $1.1 billion. Gross profit margin was 41.5% compared with 42.5% in the second quarter of the prior year. This was primarily due to the company's strategic pricing investments and higher product costs.
SG&A expenses were $1.0 billion, or 38.9% of net sales compared with 37.8% in the second quarter of 2023. This increase was primarily due to wage investments in frontline team members and an increase in professional fees, including costs associated with the implementation of the company's strategic plan and the remediation of the company’s previously-disclosed material weaknesses. This was partially offset by a reduction in marketing expenses.
The company's operating income was $71.8 million, or 2.7% of net sales compared with 4.7% in the second quarter of 2023.
The company's effective tax rate was 27.5%, compared with 26.4% in the second quarter of 2023. The company's diluted EPS was $0.75, compared with $1.32 in the second quarter of 2023.
Net cash provided by operating activities was $87.8 million through the second quarter of 2024 versus $167.1 million of cash used in operating activities in the same period of the prior year. Free cash flow through the second quarter of 2024 was an outflow of $4.6 million compared with an outflow of $312.0 million in the same period of the prior year.
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By NAPA
ATLANTA, Aug. 20, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global service provider of automotive and industrial replacement parts and value-added solutions, announced today its Board of Directors declared a regular quarterly cash dividend of one dollar ($1.00) per share on the company's common stock. The dividend is payable on October 1, 2024to shareholders of record on September 6, 2024.
About Genuine Parts Company
Established in 1928, Genuine Parts Company is a leading global service provider of automotive and industrial replacement parts and value-added solutions. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 60,000 teammates. Learn more at
link hidden, please login to view. SOURCE Genuine Parts Company
For further information: Investor contact: Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations , Media contact: Heather Ross, (678) 934-5220, Vice President - Strategic Communications
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By Counterman
link hidden, please login to view (GPC) announced that Jenn Hulett joined GPC as executive vice president and chief people officer, effective August 19, 2024. Jim Neill, who previously announced his retirement from link hidden, please login to view, will continue to serve in an advisory role through September 30, 2024, to support Hulett during the transition. In her new role, Hulett will be responsible for GPC’s global human resources operations and will play a key role in advancing the company’s talent and culture initiatives, GPC said. She will report to Will Stengel, president and chief executive officer.
“We are pleased to welcome Jenn Hulett as GPC’s next global people leader,” said Stengel. “Jenn is a seasoned executive with a proven track record of success. Her passion for developing people and culture, driving positive change and delivering results will strengthen our One GPC approach and make her a valuable addition to our global executive leadership team. We look forward to Jenn’s contributions to GPC’s continued evolution.”
Hulett most recently served as executive vice president and chief people officer for Dollar Tree. Her career also includes executive leadership roles at Core-Mark, Ericsson and General Electric.
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By NAPA
ATLANTA, Aug. 19, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global service provider of automotive and industrial replacement parts and value-added solutions, announced today that Jenn Hulett joined GPC as Executive Vice President and Chief People Officer, effective August 19, 2024. Jim Neill, who previously announced his retirement from GPC, will continue to serve in an advisory role through September 30, 2024 to support Ms. Hulett during the transition. In her new role, Ms. Hulett will be responsible for GPC's global human resources operations and will play a key role in advancing the company's talent and culture initiatives. She will report to Will Stengel, President and Chief Executive Officer.
"We are pleased to welcome Jenn Hulett as GPC's next global people leader," said Mr. Stengel. "Jenn is a seasoned executive with a proven track record of success. Her passion for developing people and culture, driving positive change and delivering results will strengthen our One GPC approach and make her a valuable addition to our global executive leadership team. We look forward to Jenn's contributions to GPC's continued evolution."
Ms. Hulett joins GPC with a wealth of experience, most recently serving as Executive Vice President and Chief People Officer for Dollar Tree, a $28 billionorganization with 200,000 employees across 16,000 locations. In this role, she oversaw all aspects of HR, as well as internal and external communications and community engagement. Her impressive career also includes executive leadership roles at Core-Mark, Ericsson and General Electric, highlighting her ability to execute talent initiatives within large, global organizations.
"Jim Neill has been a friend to all and an exemplary leader at GPC for nearly two decades, shaping our culture and our people in ways that will continue to benefit us for years to come," said Mr. Stengel. "In particular, his dedication to fostering our unique culture and evolving a supportive work environment have created a lasting legacy. We are grateful for Jim's many contributions and wish him all the best in his well-deserved retirement."
About Genuine Parts Company
Established in 1928, Genuine Parts Company is a leading global service provider of automotive and industrial replacement parts and value-added solutions. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 60,000 teammates. Learn more at
link hidden, please login to view. SOURCE Genuine Parts Company
For further information: Investor contact: Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations; Media contact: Heather Ross, (678) 934-5220, Vice President - Strategic Communications
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