Advance Auto Parts Announces Partnership with The Midwest Auto Care Alliance
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By CAautogroup
Hello all,
We have a rather small waiting room and have removed a few chairs to aid in social distancing (we now have only 4 chairs total). I wanted to know if your shop is requiring customers to wear a mask while they are inside the waiting area? How is your experience? Do you have a sign up on the front door stating they must wear a mask?
Stay safe and healthy!
Nick
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By Joe Marconi
In my 40 years as a shop owner, I have battled the age old dilemma: Is it my car count, my customer count or some other reason why some weeks I find it hard to hit my sales goal.
It always comes down to production. Now that's really simplifying it, I know. But, when you look at the numbers, with the right jobs and a balanced schedule, the ARO goes way up and car counts become not as important as we thought.
Another thing to consider, this is not 1995. Cars do not come in 5 to 6 times a year for an Oil Change Service. You are lucky to see some customers every 10,000 miles as they wait for that Oil Change Percentage light on their dashboard to tell them...NOW IT"S OK TO GO TO YOUR REPAIR SHOP. Isn't it funny how so many people will listen to the dash board light, and not you!
Anyway, what are your thoughts. How do you reach your weekly sales goals and what KPI's are important to you?
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By Joe Marconi
Due to COVID-19, many repair shops experienced a severe economic downturn, some with a drop in sales over 50%. Without a strong cash reserve and/or SBA funding help, many shops would have gone under.
My 40 years as a shop owner has taught me to always have a cash reserve. However, never would I have ever imagined a downturn like the one with COVID-19.
So, how do we plan for the next financial crisis. And, it will happen. Perhaps not as bad as the the virus crisis, but it will happen.
Here are a few things to consider: Have a separate, and hard to access, cash reserve bank account that has least two months of expenses. Also, secure a line of credit for at least one to two months of expenses. Also, know your numbers, keep payroll in line, and make sure your prices are fair to you too, not just your customers. Keep in good standing with all your vendors and keep your credit score high!
The bottom line here, is truly the bottom line. To weather the next financial downturn, you need a strong balance sheet and net profit to the bottom line.
What other strategies are you considering or implementing?
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By Joe Marconi
As a result of COVID-19, we are seeing more and more businesses install plastic shields at their service and receptionist counters and desks. What are your thoughts. Will you install the shield, have done it or is it a no?
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By Joe Marconi
As part of our debt reduction, I revamped all of our usual marketing and advertising and put those dollars into customer service and social media. For example, we ramped up our shuttle pickup and delivery service, extended our hours of service, made sure we spend a lot of time with each customer and made sure we called as many customers as possible. We also stepped up our meet and greet process and made sure will followed up with customer after the repair. Lastly, we increased our social media posts and increases ads and boosting. This has made a huge impact on our customer and already starting to pay dividends.
What changes have you made to your marketing strategy since the Virus Crisis hit?
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By AutoShopOwner
DAYTONA BEACH, Fla. & RALEIGH, N.C.--(BUSINESS WIRE)-- As NASCAR Weekly Series sanctioned events begin to return at select tracks across North America, NASCAR and Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider, today announced a multiyear official partnership, designating Advance as the series entitlement sponsor. As part of the agreement, Advance also becomes the “Official Auto Parts Retailer of NASCAR.”
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200610005058/en/
"It's great to have Advance join us in welcoming the return of NASCAR-sanctioned grassroots racing," said Ben Kennedy, vice president, racing development, NASCAR. "Advance’s commitment to our Weekly Series will develop some of the brightest NASCAR talent across North America. Advance has a long history in racing, and we’re thrilled to see its expanded presence from the grassroots all the way through our national series.”
The NASCAR Advance Auto Parts Weekly Series is one of the oldest series in NASCAR, where champions are crowned at NASCAR-sanctioned Home Tracks. The NASCAR Advance Auto Parts Weekly Series was paused in mid-March due to COVID-19 and recently returned with sanctioned events at select tracks beginning June 6.
The series is run at nearly 60 NASCAR-sanctioned Home Tracks throughout the United States and Canada. NASCAR Home Tracks are a group of local short tracks sanctioned by NASCAR.
“Drivers and race fans in North America have not been able to attend their local tracks due to COVID-19. We are excited to be partnering with NASCAR and the NASCAR Weekly Series to support tracks, drivers and fans as they resume live racing this year,” said Jason McDonell, Advance’s chief marketing officer. “We are committed to helping our customers advance in our stores, online and with this multiyear partnership with NASCAR. We are passionate about advancing local communities where we serve, and through this sponsorship we’ll be able to help grow racing at the grassroots level while supporting the next generation of champions.”
Race fans can catch select NASCAR Advance Auto Parts Weekly Series races live and on-demand via TrackPass on NBC Sports Gold, the new streaming service from NASCAR and NBC Sports. NASCAR Advance Auto Parts Weekly Series races are part of the NASCAR Roots package for $2.99/month or $19.99/annually. The full TrackPass package, which includes NASCAR Roots, IMSA and American Flat Track events is available for $4.99/month or $44.99/year. TrackPass on NBC Sports Gold will be available on desktop web browsers and via the NBC Sports app on iOS and Android phones and tablets, Apple TV (Gen 4), Roku, Amazon Fire TV, AndroidTV, Xfinity X1, Xfinity Flex and Chromecast devices connected via HDMI.
About NASCAR
The National Association for Stock Car Auto Racing (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States and owner of 16 of the nation’s major motorsports entertainment facilities. NASCAR consists of three national series (NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR Gander RV & Outdoors Truck Series™), four regional series (ARCA Menards Series, ARCA Menards Series East & West and the NASCAR Whelen Modified Tour), one local grassroots series and three international series. The International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. NASCAR also owns Motor Racing Network, Racing Electronics, Americrown Service and ONE DAYTONA. Based in Daytona Beach, Florida, with offices in eight cities across North America, NASCAR sanctions more than visit www.NASCAR.com and www.IMSA.com, and follow NASCAR on Facebook, Twitter, Instagram, and Snapchat (‘NASCAR’).
About Advance Auto Parts
Advance Auto Parts, Inc., is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of April 18, 2020, Advance operated 4,843 stores and 168 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,258 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands. Additional information about Advance, including employment opportunities, customer services and online shopping for parts, accessories, and other offerings can be found at www.AdvanceAutoParts.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200610005058/en/
Investor Relations:
Elisabeth Eisleben
T: (919) 227-5466
E: [email protected]
Media Relations:
Darryl Carr
T: (984) 389-7207
E: [email protected]
Source: Advance Auto Parts, Inc.
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By AutoShopOwner
Advance Auto Parts Announces Purchase of the DieHard Brand from Transformco
RALEIGH, N.C. & HOFFMAN ESTATES, Ill.--(BUSINESS WIRE)--Dec. 23, 2019-- Advance Auto Parts, Inc. (NYSE: AAP) has acquired the DieHard brand from Transform Holdco LLC (“Transformco”), for $200 million utilizing cash on hand.
This asset acquisition will give Advance the right to sell DieHard batteries, the most trusted brand in the automotive battery category, and enables Advance to extend the DieHard brand into other automotive and vehicular categories. In addition, the deal allows Transformco to sell DieHard brand batteries through its existing channels pursuant to a supply agreement with Advance. Advance is also granting Transformco an exclusive royalty-free, perpetual license to develop, market, and sell DieHard branded products in non-automotive categories.
“We are excited to acquire global ownership of an iconic American brand. DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our Professional customers and Independent Carquest partners. DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical battery category,” said Tom Greco, president and CEO, Advance Auto Parts. “DieHard stands for durability and reliability and we will strengthen and leverage the brand in other battery categories, such as marine and recreational vehicles. We also see opportunities to extend DieHard in other automotive categories. We remain committed to providing our customers with high-quality products and excellent service. The addition of DieHard to our industry leading assortment of national brands, OE parts and owned brands will enable us to differentiate Advance and drive significant long-term shareholder value.”
“DieHard is among the most successful and one of the most widely trusted brands in the auto industry, and we have long believed that the brand has even more potential,” said Peter Boutros, President of Transformco’s Kenmore, Craftsman and DieHard business unit. “DieHard revolutionized the automotive battery category when it launched in 1967, and has continued to be a leader in the category. Advance Auto Parts’ acquisition of this iconic American brand will complement our plans to introduce new DieHard products in non-automotive categories such as sporting goods, lawn and garden, authentic work wear and other exciting new categories.”
About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of October 5, 2019, Advance operated 4,891 stores and 152 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,260 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos and British Virgin Islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.
About Transformco
Transform Holdco LLC is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve its members – wherever, whenever and however they want to shop. Transformco is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears, Kmart and other retail partners. Transformco operates through its subsidiaries with full-line and specialty retail stores across the United States.
Forward-Looking Statements
Certain statements in this report are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements address future events or developments, and typically use words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “forecast,” “guidance,” “outlook” or “estimate” or similar expressions. These forward-looking statements include, but are not limited to, statements related to the benefits or other effects of the acquisition, statements regarding expected growth and future performance of the Company, and all other statements that are not statements of historical facts. These statements are based upon assessments and assumptions of management in light of historical results and trends, current conditions and potential future developments that often involve judgment, estimates, assumptions and projections. Forward-looking statements reflect current views about the Company's plans, strategies and prospects, which are based on information currently available as of the date of this release. Except as required by law, the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. Please refer to the risk factors discussed in "Item 1a. Risk Factors" in the Company's most recent Annual Report on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and other filings made by the Company with the Securities and Exchange Commission, for additional factors that could materially affect the Company’s actual results. Forward-looking statements are subject to risks and uncertainties, many of which are outside its control, which could cause actual results to differ materially from these statements. Therefore, you should not place undue reliance on those statements.
Source: Advance Auto Parts, Inc.
Advance Auto Parts:
Media Relations:
Darryl Carr
T: (984) 389-7207
E: [email protected]
Investor Relations:
Elisabeth Eisleben
T: (919) 227-5466
E: [email protected]
Transformco Media:
Larry Costello
T: (847) 286-9036
E: [email protected]
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191223005397/en/
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By AutoShopOwner
ROANOKE, Va. & DALLAS, Tex.--(BUSINESS WIRE)--Dec. 12, 2017-- Advance Auto Parts, Inc. (NYSE: AAP) and Interstate Batteries announce a strategic partnership to better serve the changing needs of the automotive aftermarket with premium quality products, expanded availability and enhanced customer service. Interstate Batteries, the leading replacement battery brand with the largest independent battery distribution system in North America, will become the exclusive automotive and specialty battery brand to Advance Auto Parts stores and customers in the spring of 2018.
https://www.autopartsforum.com/topic/175-interstate-batteries-north-america’s-no-1-automotive-battery-brand-launches-exclusive-partnership-with-advance-auto-parts/
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By AutoShopOwner
ELIGIBILITY: The Advance Professional Availability Challenge (the “Promotion”) is open only to professional customers (not consumers) of Advance Auto Parts, who are legal residents of Florida, Georgia, Virginia, Maryland, and the District of Columbia, who are 18 years of age or older at time of participation (“Participant”). All other individuals residing outside of the eligible area are ineligible to participate and will be disqualified if attempting to participate. Void outside of Florida, Georgia, Virginia, Maryland, the District of Columbia, and where prohibited or restricted. Employees of Advance Auto Parts (“Promoter”), Genesco Sports Enterprises ("Administrator"), Advantage Hole In One, and their respective advertising and promotion agencies, parent companies and the members of their immediate families (spouses and parents, siblings, children and their spouses and in-laws) and persons living in the same household with such individuals (whether related or not) are not eligible to participate or win.
Visit website for more details: http://advanceauto.us/vroom/challenge/
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