ADVANCE AUTO PARTS, INC. (NYSE:AAP) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
On May22, 2018, Advance Auto Parts, Inc. (the “Company”) issued a press release setting forth its financial results for its first quarter ended April21, 2018. This release includes forward-looking statements including, but not limited to, statements related to the Company's 2018 year.
The Company's financial results for the first quarter ended April21, 2018 and April22, 2017 include General Parts International, Inc. (“GPI”) integration costs and store consolidation costs, amortization of GPI acquired intangible assets and transformation expenses. Accordingly, the Company’s financial results for these periods include certain non-operational expenses. Thus, the Company’s financial results have been presented in this press release on both a generally accepted accounting principles (“GAAP”) basis and on an adjusted basis to exclude the integration costs and store consolidation costs, amortization and transformation expenses recognized in the respective periods. The Company has provided the required reconciliations of the financial results reported on an adjusted basis to the most directly adjusted GAAP basis and has provided an explanation as to why the financial results presented on a non-GAAP basis are useful to investors.
The press release is attached as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number |
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99.1 |
Press Release, dated May 22, 2018, issued by Advance Auto Parts, Inc. |
Note: The information contained in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
EXHIBIT INDEX
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ADVANCE AUTO PARTS, INC. |
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(Registrant) |
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Date: May22, 2018 |
/s/ Jeffrey W. Shepherd |
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()* |
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Jeffrey W. Shepherd |
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Senior Vice President, Controller, Chief Accounting Officer and Interim Chief Financial Officer |
* Print name and title of the signing officer under his ADVANCE AUTO PARTS INC ExhibitEX-99.1 2 aap_exhibit991xq1x2018.htm EXHIBIT 99.1 Exhibit Exhibit 99.1NEWS RELEASE Advance Auto Parts Reports First Quarter 2018 Results First Quarter Net Sales of $2.9B; Gross Profit of $1.3BOperating Income Increased 10.3% to $198.2M,…To view the full exhibit click here
About ADVANCE AUTO PARTS, INC. (NYSE:AAP)
Advance Auto Parts, Inc. provides automotive aftermarket parts in North America, serving do-it-for-me (commercial) and do-it-yourself (DIY), customers, as well as independently owned operators. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks. The Company also offers other miscellaneous offerings, including e-services. The Company operates approximately 5,170 total stores and over 120 branches, which operate in the United States, Canada, Puerto Rico and the United States Virgin Islands under the names Advance Auto Parts, Autopart International (AI), Carquest and Worldpac. The Company serves its commercial customers and DIY customers through various channels ranging from traditional brick and mortar store locations to self-serving e-commerce sites.