Advance Auto Parts Inc - Company Profile

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Advance Auto Parts Inc: Segment Analysis

Business Description

Advance Auto Parts Inc (AAP) operates retail stores that offer a broad selection of automotive replacement parts, accessories, batteries, and maintenance items for cars, vans, sport utility vehicles, and light and heavy-duty trucks. The company also provides a variety of services for free of charge at its stores such as battery charging, check engine light reading, ‘how-to’ video clinics, oil and battery recycling, loaner tool programs, and installation. The company serves professional and do-it-yourself (DIY) customers through an integrated channel of stores under four names: Advance Auto Parts, Autopart International (AI), Carquest, and Worldpac. As of December 30, 2023, 4,935 stores and branches were in 48 US states and two US territories, and 172 stores and branches were in nine Canadian provinces. In FY2023, the company operated 4,786 stores and 321 branches under its three trade names, including Advance Auto Parts stores, Carquest, and Worldpac. Under the Advance Auto Parts category, the company operated 4,484 stores, and 394 hubs, with an average size of a store is 7,800 sq. ft. The stores provide a range of products servicing aftermarket auto part needs for both domestic and import vehicles and carry a product offering of approximately 23,000 stock-keeping units (SKUs). The company operates Corquest stores in Canada with a focus on professional customers. It operated 302 Carquest stores, including 149 stores in Canada. The average size of the store is approximately 7,000 sq. ft. The stores provide a range of aftermarket product needs for domestic and imported vehicles and carry a product offering of approximately 19,000 SKUs. As of December 31, 2023, 1,245 independently owned stores operated under the name of Carquest. The Worldpac stores serve professional customers through an online ordering and fulfillment system. Worldpac provides imported and OEM parts with a complete offering of 293,000 SKUs for import and domestic vehicles. The company operated 321 Worldpac branches of which 135 are Autopart International branded. The average size of the store is approximately 26,000 square feet. AAP primarily serves its stores and branches from its offices in Raleigh and Roanoke, the US. It also maintains store support centers in Newark and Norton, the US. As of December 31, 2023, the company operated 50 distribution centers, ranging in size from approximately 60,000 to 943,000 square feet. AAP operates primarily within the US, with locations in Canada, Puerto Rico, and the US Virgin Islands.


Product Categories

Performance

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Performance

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Performance

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Performance

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