just-auto.com

USA: Advance Auto Parts reports record Q3

By just-auto.com editorial team | 20 October 2004

Advance Auto Parts has announced record results for its third quarter ended October 9, 2004, with comparable store sales increasing by 3.0% and earnings per diluted share increasing to $0.68. The results are preliminary ahead of full details to be released on November 3.

The company experienced disruptions and property damage throughout parts of the US affected by storms and hurricanes in September but noted all seven stores affected are now fully operational. All costs related to the hurricanes are reflected in the third quarter results.

The company reiterated its fourth quarter earnings per diluted share guidance of $0.42 to $0.46. The fourth quarter of 2004 consists of twelve weeks compared to thirteen weeks last year.  The additional week last year produced an increase of approximately $0.07 in earnings per diluted share.