Advance Auto profits rise 26 percent in second quarter
- August 10, 2011
Roanoke-based Advance Auto Parts Inc. reported second-quarter earnings of $1.46 per diluted share, up 26 percent from the same period last year.
Total sales for the second quarter, which ended July 16, rose 4.4 percent to $1.48 billion, compared with $1.42 billion during the second quarter of fiscal 2010.
The sales increase reflects the net addition of 130 new stores during the past 12 months.Comparable store sales, a widely used retailing measurement, increased 2.5 percent. Year-to-date, comparable store sales rose increased 1.9 percent.For the first 28 weeks of the current fiscal year, total sales are $3.38 billion, and earnings per share are $2.79.