Advance Auto Parts sales rise 11.1 percent
- February 9, 2011
Advance Auto Parts reported an 11.1 percent increase in sales in the fourth quarter.
The Roanoke-based car accessories retailer said revenues for the quarter were $1.27 billion compared with $1.14 billion in the fourth quarter of 2009. Revenues rose 8.9 percent at exiting stores. REvenes were also boosted by the company’s 143 new stores in the last year.
“The strong financial outcomes include three consecutive years of double-digit commercial comparable store sales growth, which has led to industry leading sales per store, and three consecutive years of double-digit [earnings per share] increases,” CEO Darren Jackson said in a statement.
The company expects low- to mid-size single digit growth at existing stores in 2011 and opening 120 to 140 new stores.
Earnings rose to $48.1 million in the quarter, up from $34.5 million the year before.