Advance Auto boosts revenues with sales growth, new stores
- November 13, 2009
Advance Auto Parts boosted its sales during the third quarter 6.3 percent as it added 66 new stores in the past year and sales at existing stores increased.
The Roanoke-based company reported revenues of $1.26 billion for the third quarter, compared with $1.19 billion during the third quarter 2008.
Comparable sales rose gained 4.7 percent compared with last quarter. The comparable sales gain included an 11.8 percent increase in commercial sales and a 1.7 percent increase in “do-it-yourself” sales.
“Our third quarter marked our seventh consecutive quarter of double-digit commercial comp sales growth, our third consecutive quarter of positive DIY comps and our fourth consecutive quarter of strong gross profit rate improvements, Mike Norona, Advance Auto’s executive vice president and CFO said in a statement.
The company earned $62 million during the quarter, compared with $56.2 million during the third quarter of 2008.