finance.yahoo.com

Advance Auto Parts Profit More Than Triples Despite Flat Sales

Advance Auto Parts logoAdvance Auto Parts
Sig3.22Sen-0.78Env0.00Soc-2.14Gov+0.42

Advance Auto Parts says it improved last quarter, but net sales for the 12 weeks ended July 18 fell 0.5% to $2.0 billion. The board’s restructuring—closing about 500 corporate stores, 200 independently owned locations, and four distribution centers—cut restructuring costs to $10 million. The company also booked a $26 million federal tariff refund benefit, while interest expense more than doubled to $113 million for the first 28 weeks.

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