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Advance Auto Parts

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Advance Auto Parts

Advance Auto Parts, Inc.
Public
Traded as NYSE: AAP
Industry Auto Parts Retail
Founded 1932
Headquarters Roanoke, VA, USA
Number of locations
5,200
Area served
United States, Puerto Rico, U.S. Virgin Islands, Canada
Key people
John C. Brouillard
(Chairman of the Board)
Darren R. Jackson
(CEO) & (Director)
Mike Norona, EVP & CFO
Products Replacement automotive parts & accessories
Revenue Increase US$5.41 Billion (FY 2009)[1]
Increase US$454 Million (FY 2009)[1]
Increase US$270 Million (FY 2009)[1]
Total assets Increase US$3.07 Billion (FY 2009)[2]
Total equity Increase US$1.28 Billion (FY 2009)[2]
Number of employees
74,000 - January 2015
Subsidiaries

Autopart International, Inc.[1]

Carquest Auto Parts

WorldPac, Inc. [2]
Website AdvanceAutoParts.com
Advance Auto Parts in Goodlettsville, Tennessee.

Advance Auto Parts, is headquartered in Roanoke, Virginia,[3] and is now the largest retailer of automotive replacement parts and accessories in the United States[4] by store count after acquiring CARQUEST in October 2013. AAP was founded in 1932 and had 2011 sales of approximately $6.2 billion. AAP operates over 3,800 stores in forty U.S. states and has over 55,000 employees.

In 2005, Advance Auto Parts purchased Autopart International, Inc. which operates 202 stores along the Atlantic Seaboard.[5][6] As of 2014, Autopart International still operates as a separate division within Advance Auto.

In 2013 AAP Purchased General Parts Inc. including CARQUEST, CARQUEST Canada and WorldPac for $2.04 billion.[7][8]

History

2006-2010 Chevrolet HHR used as the fleet vehicle of the company.

In 1932, Arthur Taubman purchased from Pep Boys, the Advance Stores, with two stores in Roanoke, Virginia and one in Lynchburg, Virginia.

The first major expansion of Advance Auto Parts was in 1998 when the company acquired the remaining operations of Western Auto, an auto parts and general store retailer. Most of the Western Auto operations had been taken over by Sears, Roebuck and Co. in 1987.[9]

In April 2001, Advance Auto Parts acquired Carport Auto Parts, a regional retail chain with 29 stores in Alabama and Mississippi.[10][11] On November 28, Advance acquired 671 Discount Auto Parts, Inc., a regional auto parts chain in Florida, Alabama, Georgia, South Carolina, and Louisiana.[12][13] Upon completion of this merger, Advance Auto Parts became a publicly traded company, listed as a common stock on the New York Stock Exchange under the symbol AAP. The year ended with 2,484 stores in 38 states.

In July 2002, Advance Auto Parts received bankruptcy court approval to acquire 57 Trak Auto Parts Stores in northern Virginia, Washington, DC, and eastern Maryland.[14][15]

In September 2006, Advance Auto Parts (NYSE:AAP) announced an agreement with ADMMicro, a VA-based company, to retrofit certain existing stores and equip new stores with an Energy Management System (EMS).[16]

Advance now operates 4,000 locations in 40 states including Puerto Rico & the Virgin Islands using the following branded names: Advance Auto Parts, Advance Discount Auto Parts, and Western Auto (Puerto Rico & Virgin Islands).require('Module:No globals')

local p = {}

-- articles in which traditional Chinese preceeds simplified Chinese local t1st = { ["228 Incident"] = true, ["Chinese calendar"] = true, ["Lippo Centre, Hong Kong"] = true, ["Republic of China"] = true, ["Republic of China at the 1924 Summer Olympics"] = true, ["Taiwan"] = true, ["Taiwan (island)"] = true, ["Taiwan Province"] = true, ["Wei Boyang"] = true, }

-- the labels for each part local labels = { ["c"] = "Chinese", ["s"] = "simplified Chinese", ["t"] = "traditional Chinese", ["p"] = "pinyin", ["tp"] = "Tongyong Pinyin", ["w"] = "Wade–Giles", ["j"] = "Jyutping", ["cy"] = "Cantonese Yale", ["poj"] = "Pe̍h-ōe-jī", ["zhu"] = "Zhuyin Fuhao", ["l"] = "literally", }

-- article titles for wikilinks for each part local wlinks = { ["c"] = "Chinese language", ["s"] = "simplified Chinese characters", ["t"] = "traditional Chinese characters", ["p"] = "pinyin", ["tp"] = "Tongyong Pinyin", ["w"] = "Wade–Giles", ["j"] = "Jyutping", ["cy"] = "Yale romanization of Cantonese", ["poj"] = "Pe̍h-ōe-jī", ["zhu"] = "Bopomofo", }

-- for those parts which are to be treated as languages their ISO code local ISOlang = { ["c"] = "zh", ["t"] = "zh-Hant", ["s"] = "zh-Hans", ["p"] = "zh-Latn-pinyin", ["tp"] = "zh-Latn", ["w"] = "zh-Latn-wadegile", ["j"] = "yue-jyutping", ["cy"] = "yue", ["poj"] = "hak", ["zhu"] = "zh-Bopo", }

local italic = { ["p"] = true, ["tp"] = true, ["w"] = true, ["j"] = true, ["cy"] = true, ["poj"] = true, } -- Categories for different kinds of Chinese text local cats = { ["c"] = "", ["s"] = "", ["t"] = "", }

function p.Zh(frame) -- load arguments module to simplify handling of args local getArgs = require('Module:Arguments').getArgs local args = getArgs(frame) return p._Zh(args) end function p._Zh(args) local uselinks = not (args["links"] == "no") -- whether to add links local uselabels = not (args["labels"] == "no") -- whether to have labels local capfirst = args["scase"] ~= nil

        local t1 = false -- whether traditional Chinese characters go first
        local j1 = false -- whether Cantonese Romanisations go first
        local testChar
        if (args["first"]) then
                 for testChar in mw.ustring.gmatch(args["first"], "%a+") do
          if (testChar == "t") then
           t1 = true
           end
          if (testChar == "j") then
           j1 = true
           end
         end
        end
        if (t1 == false) then
         local title = mw.title.getCurrentTitle()
         t1 = t1st[title.text] == true
        end

-- based on setting/preference specify order local orderlist = {"c", "s", "t", "p", "tp", "w", "j", "cy", "poj", "zhu", "l"} if (t1) then orderlist[2] = "t" orderlist[3] = "s" end if (j1) then orderlist[4] = "j" orderlist[5] = "cy" orderlist[6] = "p" orderlist[7] = "tp" orderlist[8] = "w" end -- rename rules. Rules to change parameters and labels based on other parameters if args["hp"] then -- hp an alias for p ([hanyu] pinyin) args["p"] = args["hp"] end if args["tp"] then -- if also Tongyu pinyin use full name for Hanyu pinyin labels["p"] = "Hanyu Pinyin" end if (args["s"] and args["s"] == args["t"]) then -- Treat simplified + traditional as Chinese if they're the same args["c"] = args["s"] args["s"] = nil args["t"] = nil elseif (not (args["s"] and args["t"])) then -- use short label if only one of simplified and traditional labels["s"] = labels["c"] labels["t"] = labels["c"] end local body = "" -- the output string local params -- for creating HTML spans local label -- the label, i.e. the bit preceeding the supplied text local val -- the supplied text -- go through all possible fields in loop, adding them to the output for i, part in ipairs(orderlist) do if (args[part]) then -- build label label = "" if (uselabels) then label = labels[part] if (capfirst) then label = mw.language.getContentLanguage():ucfirst(

In 2010, Advance Auto Parts announced a deal with Monster Jam to become the title sponsor. The company sponsors a truck on the circuit called the Advance Auto Parts Grinder. As of the close of FY 2013, Advance has chosen not to renew ties with Monster Jam, and the Feld Organization.

In December 2012, Advance Auto Parts acquired BWP Distributors, a Carquest franchise for the New England region that included the transfer of 124 company owned retail locations plus 2 distribution centers.[17][18] The responsibility for 92 independently owned location that were service by BWP were transferred to General Parts, Inc., the largest Carquest franchise along with one distribution center for servicing those locations.

On October 16, 2013, Advance Auto Parts entered into a definitive agreement to acquire to General Parts International, Inc. (GPI), a leading privately held distributor and supplier of original equipment and aftermarket replacement products for commercial markets operating under the CARQUEST and WORLDPAC brands.[7][8] The transaction has been approved by the boards of directors for both companies. The deal creates the largest automotive aftermarket parts[19] provider in North America, with annual sales of more than $9.2 billion and more than 70,000 employees.

General Parts International, with corporate headquarters in Raleigh, NC, has seen a significant rise in personnel since being acquired by Advance. [20] Most of these added jobs are personnel from Roanoke, Minnesota or between the now redundant GPI positions being transferred to Raleigh. It is hopeful that the net result between these former GPI positions and the corresponding new Advance positions is a gain. However as announced 8/10/2015 on the local NPR radio station, WUNC, Advance Auto is in the process of laying off at least 100 employees from the both home offices to eliminate duplicate positions.

In 2014 Advance Auto Parts began a Loyalty Program for DIY customers, named SpeedPerks. By enrolling in the loyalty program, the member will receive discounts off of purchases without the need of a card or point system. When a customer spends $30 in store before tax, a $5 off coupon will be sent in their email, for a $100 purchase before tax a $20 off coupon will be emailed to the member.

On September 30th 2015, Starboard Value LP, an activist investment firm disclosed a 3.7 percent stake in Advance Auto Parts. Through a letter to Chief Executive Darren Jackson and a keynote presentation published on Starboard's website, Starboard Values believes that Advance Auto Parts shares have the potential to reach $350 each if the company takes steps to improve profit margins. The presentation also stated that "Advance Auto Parts has substantially underperformed compared to peers on almost any measure, including operating margins, revenue growth, and total shareholder return." [21] [22] Roanoke, Virginia-based Advance Auto's sales have missed market expectations in four of the past six quarters. [23] Starboard Value LP was behind the ouster of the entire board of restaurant operator Darden Restaurants Inc last year, owners of the Red Lobster/Olive Garden restaurants.[24]

Recognitions

Advance Auto Parts is now the largest automotive aftermarket retailer in the United States based on sales and store count. The company premiered on the Fortune 500 list of companies in 2003 at No. 466 and has remained on the list since that time. As of June 2014, it was ranked at No. 1,412 on the Forbes magazine "World's Biggest Public Companies" list.

Advance has received numerous recognitions for charitable contributions. The company has been nationally recognized for its fundraising for the Juvenile Diabetes Research Foundation (JDRF), having donated more than $20 million since 1994.require('Module:No globals')

local p = {}

-- articles in which traditional Chinese preceeds simplified Chinese local t1st = { ["228 Incident"] = true, ["Chinese calendar"] = true, ["Lippo Centre, Hong Kong"] = true, ["Republic of China"] = true, ["Republic of China at the 1924 Summer Olympics"] = true, ["Taiwan"] = true, ["Taiwan (island)"] = true, ["Taiwan Province"] = true, ["Wei Boyang"] = true, }

-- the labels for each part local labels = { ["c"] = "Chinese", ["s"] = "simplified Chinese", ["t"] = "traditional Chinese", ["p"] = "pinyin", ["tp"] = "Tongyong Pinyin", ["w"] = "Wade–Giles", ["j"] = "Jyutping", ["cy"] = "Cantonese Yale", ["poj"] = "Pe̍h-ōe-jī", ["zhu"] = "Zhuyin Fuhao", ["l"] = "literally", }

-- article titles for wikilinks for each part local wlinks = { ["c"] = "Chinese language", ["s"] = "simplified Chinese characters", ["t"] = "traditional Chinese characters", ["p"] = "pinyin", ["tp"] = "Tongyong Pinyin", ["w"] = "Wade–Giles", ["j"] = "Jyutping", ["cy"] = "Yale romanization of Cantonese", ["poj"] = "Pe̍h-ōe-jī", ["zhu"] = "Bopomofo", }

-- for those parts which are to be treated as languages their ISO code local ISOlang = { ["c"] = "zh", ["t"] = "zh-Hant", ["s"] = "zh-Hans", ["p"] = "zh-Latn-pinyin", ["tp"] = "zh-Latn", ["w"] = "zh-Latn-wadegile", ["j"] = "yue-jyutping", ["cy"] = "yue", ["poj"] = "hak", ["zhu"] = "zh-Bopo", }

local italic = { ["p"] = true, ["tp"] = true, ["w"] = true, ["j"] = true, ["cy"] = true, ["poj"] = true, } -- Categories for different kinds of Chinese text local cats = { ["c"] = "", ["s"] = "", ["t"] = "", }

function p.Zh(frame) -- load arguments module to simplify handling of args local getArgs = require('Module:Arguments').getArgs local args = getArgs(frame) return p._Zh(args) end function p._Zh(args) local uselinks = not (args["links"] == "no") -- whether to add links local uselabels = not (args["labels"] == "no") -- whether to have labels local capfirst = args["scase"] ~= nil

        local t1 = false -- whether traditional Chinese characters go first
        local j1 = false -- whether Cantonese Romanisations go first
        local testChar
        if (args["first"]) then
                 for testChar in mw.ustring.gmatch(args["first"], "%a+") do
          if (testChar == "t") then
           t1 = true
           end
          if (testChar == "j") then
           j1 = true
           end
         end
        end
        if (t1 == false) then
         local title = mw.title.getCurrentTitle()
         t1 = t1st[title.text] == true
        end

-- based on setting/preference specify order local orderlist = {"c", "s", "t", "p", "tp", "w", "j", "cy", "poj", "zhu", "l"} if (t1) then orderlist[2] = "t" orderlist[3] = "s" end if (j1) then orderlist[4] = "j" orderlist[5] = "cy" orderlist[6] = "p" orderlist[7] = "tp" orderlist[8] = "w" end -- rename rules. Rules to change parameters and labels based on other parameters if args["hp"] then -- hp an alias for p ([hanyu] pinyin) args["p"] = args["hp"] end if args["tp"] then -- if also Tongyu pinyin use full name for Hanyu pinyin labels["p"] = "Hanyu Pinyin" end if (args["s"] and args["s"] == args["t"]) then -- Treat simplified + traditional as Chinese if they're the same args["c"] = args["s"] args["s"] = nil args["t"] = nil elseif (not (args["s"] and args["t"])) then -- use short label if only one of simplified and traditional labels["s"] = labels["c"] labels["t"] = labels["c"] end local body = "" -- the output string local params -- for creating HTML spans local label -- the label, i.e. the bit preceeding the supplied text local val -- the supplied text -- go through all possible fields in loop, adding them to the output for i, part in ipairs(orderlist) do if (args[part]) then -- build label label = "" if (uselabels) then label = labels[part] if (capfirst) then label = mw.language.getContentLanguage():ucfirst(Advance acts as an aggregator[25] for the largest portion of the donations for JDRF, collecting monies from both walk-in customers and commercial business through the sale of paper sneakers, that once purchased by the customer are displayed on the store windows.

References

  1. ^ a b c Advance Auto Parts (AAP) annual SEC income statement filing via Wikinvest
  2. ^ a b Advance Auto Parts (AAP) annual SEC balance sheet filing via Wikinvest
  3. ^
  4. ^ Aftermarket Business Top 40
  5. ^
  6. ^
  7. ^ a b
  8. ^ a b
  9. ^
  10. ^
  11. ^
  12. ^
  13. ^
  14. ^
  15. ^
  16. ^
  17. ^
  18. ^
  19. ^ http://www.salvage-parts.com/auto-parts-store
  20. ^ http://www.wral.com/advance-auto-parts-to-create-600-jobs-in-raleigh/13745334/
  21. ^ http://www.reuters.com/article/2015/09/30/us-starboard-value-advance-auto-idUSKCN0RU0AV20150930
  22. ^ http://www.reuters.com/article/2015/09/30/us-starboard-value-advance-auto-idUSKCN0RU0AV20150930
  23. ^ http://www.reuters.com/article/2015/09/30/us-starboard-value-advance-auto-idUSKCN0RU0AV20150930
  24. ^ http://www.reuters.com/article/2014/10/10/us-darden-board-idUSKCN0HZ0U320141010
  25. ^ http://www.investopedia.com/terms/a/aggregation.asp

External links

  • Advance Auto Parts
  • Advance Auto Parts Mobile Web Site
  • Autopart International
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