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Advance Auto Parts Third Quarter Earnings Call |
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Author: Albena Toncheva
123jump.com
Last Update: 8:40 AM EST November 05 2007
The leading retailer of the automotive parts reported revenue of $1.16 billion, up from $1.10 billion in prior year. While the same store sales of Do-it-Yourself fell by 1%, the commercial same store sales grew by 8%. In the quarter, the firm recorded a pretax charge of $6.3 million in severance costs related to its position eliminations and asset write-offs associated with shutting down the Advance TV Network. For Q4, the company reaffirmed the same store sales guidance of zero to 2%. |
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