Advance Auto Parts releases 2015 results
Roanoke (WSLS 10) - Advance Auto parts releases its earning for the fourth quarter and full year of 2015.
In the twelve weeks ending January 2, 2016, the company earned $54.8 million on $2.03 billion in revenue, which is 2.6 percent lower than the fourth quarter of 2014.
For the full year 2015, the company earned $473.4 million on $9.7 billion in sales, which is in line with 2014 earnings.
Same store sales, or those stores open more than 12 months, dropped 2.5 percent. The company says the impact of previously announced store closings was partially offset by new store openings.
Advance Auto attributes part of the drop in revenue to foreign currency fluctuations from its Canadian business as well as lower demand for seasonal products due to the warmer winter weather.
Looking forward to 2016, the company expects to open 65 to 75 new stores. Adjusted operating income is expected to increase 12 percent.
The company currently operates nearly 5,200 stores in the U.S. and Canada and employs approximately 73,000 people.
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