Earnings per share rise at Advance Auto
- May 18, 2012
Roanoke-based Advance Auto Parts Inc. reported its first-quarter earnings per share rose 32.6 percent from the same period last year.
For the three months ending April 21, the auto parts retailer had sales of $1.96 billion, up from $1.9 billion during the first quarter last year.
Diluted earnings per share were $1.79 during the most recent quarter, up from $1.35 the year before.
Comparable-store sales rose 2.1 percent during the first quarter in 2012, an increase from 1.4 percent in 2011.
Operating income percentage increased to 11.5 percent from 9.8 percent the year before.
“We are pleased with our overall performance during our first quarter despite a meaningful slowdown in our sales
trends in the month of April.” Darren R. Jackson, president and CEO, said in a statement. “Our second-quarter sales trends remain
challenging despite the positive long-term industry fundamentals. We remain committed to executing our key
priorities while making adjustments to these short term sales trends.”
During the first quarter, the company opened 25 stores, including three Autopart International stores, and closed
five Autopart International stores.
On April 21,Advance Auto had 3,682 stores including 200 Autopart International stores.
On May 14, 2012, the board of directors authorized a $500 million share repurchase program. This replaces a $300 million share repurchase program authorized in August, which had $200 million remaining.