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Advance Auto Parts CEO on earnings and outlook


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  • AutoShopOwner changed the title to Advance Auto Parts CEO on earnings and outlook


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    • By carmcapriotto
      Tom Grady founded Redhawk Auto Service in 2005 with the goal of providing the Temecula Valley with high-quality automotive service that emphasizes excellence, value, and convenience. Tom Grady has over 35 years of automotive industry experience as a former executive with Ford Motor Company and Nissan. He was also an automotive dealer in Orange County and New York. Mr. Grady has an M.B.A. degree and a B.A. in Economics.
      The Grady’s also own full-service hand car washes and founded Redhawk Hand Car Wash in 2003. Mr. Grady has been actively involved in the community through the Rotary Club and as the past Chairman of the Lake Elsinore Chamber of Commerce.
      Key Talking Points
      6 bays in 2,000 square feet- 6 technicians, 15-year business. Last three years the business did 1.5-2 million per year.  Satelite location- needed more space but didn’t want to expand and purchase another business for a second location. Started looking at flex condos during the pandemic, found one that was available for purchase. It was a call center and part of it is offices for rent plus has offices for businesses for the first time. Tom equipt it with 6 lifts. 5 minutes away from first location. Service advisors will stay at first location.  Goal increase business but cut back expense to achieve efficiency  First location will be used for quick work, satellite location will be used for work and repair that take longer  Challenges- logistics, communications between both shops, AAA towing drop-offs (no parked cars overnight at satellite), and computer systems Marketing- saying “yes” to the customer. Tom loves the sizzle of “selling and marketing.” Tom is the visionary of the business and in the CEO ATI Program and his second in command is in COO program. Thanks to Tom Grady for his contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP's HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
      Facebook   Twitter  LinkedIn   Instagram  Youtube   Email  
      Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE.
      Buy me a coffee

      Gold Certification recognizes top tier NAPA AutoCares with a high level of participation in the AutoCare program. The program was built by AutoCare Centers for AutoCare Centers to provide a consistent consumer experience, maximize technology leverage, and reward NAPA’s most committed partners. In other words, Gold Certified AutoCare Centers are the standard bearers for the AutoCare brand nationwide. Simply put, the Gold Certified NAPA AutoCare program, powered by your local shop brand, will separate you from the rest helping you boost your bay counts and your average repair orders.
      Learn more about NAPA AutoCare, Gold Certification, and the hundreds of other benefits the NAPA family has to offer by talking with your servicing NAPA store or visiting www.NAPAAutoCare.com.
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      https://www.youtube.com/watch?v=eozm7M1qMKg&t=1s
      Tom Sciortino, Total Automotive, Tonawanda, NY. Graduated 1983 ECC with an associate degree in Automotive technology. Worked from 1981-1986 (broad Elm, Tire man, and Goodyear) and opened Total Automotive June 1st, 1986 (just celebrated 35 years in business. Purchased his current location in 2016 after renting for 30 years. Tom has 3 techs, 1 service writer and is an ASE Master Tech
      John Armstead opened up Armstead Automotive Repair in 1986, out of a two-bay garage, in downtown Holly. In 1992, Armstead Automotive moved to the existing location on Fish Lake Rd. At this location, Armstead Automotive was able to expand and tailor to our customer’s needs. In 2004 we added a heavy-duty 4 bay addition, that can hold vehicles as large as school buses, RVs, and bucket trucks. On the west side of the building, John built a custom railroad track for all hy-rail needs. Armstead Automotive is willing to adapt to what our customers need…challenge accepted.
      Now, Armstead Automotive is a fully-fledged auto repair shop complete with nine bays and a family of Armsteads, working tirelessly to deliver an experience that goes unrivaled in Holly, Saginaw, and the surrounding communities.
      For an auto repair shop in Holly or Saginaw that looks out for you and your vehicle, no matter what, through the complex transmission repairs, to a simple oil change, look no further than Armstead Automotive Repair. 
      Key Talking Points
      Waiting customer- demand purchase, if needs battery customers would rather have it done right away. Offer print out and keep a history of batteries. Be consistent. Battery testing- DVI process/inspection Both John and Tom sell around 150 batteries per year- 3 per week Rotate stock batteries every 90 days  Hotter climates batteries often need changing after 48 months Some cars won’t start/stop of battery is weak Batteries dying- lights staying on (map lights).  COVID 19- cars sitting for a long period of time and won’t start If you’re not selling batteries then you’re not checking/testing Profitability- 25-35%, labor and sale like tires. AAA won’t change on road for certain cars with batteries in the trunk or under seat etc Thanks to Tom Sciortino and John Armstead for their contribution to the aftermarket Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP’s HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
      Facebook   Twitter   Linked In   Email
      Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.
      Buy me a coffee

      Are you seeing auto shops in your area get hundreds of 5-star Google reviews and are you feeling left behind because your shop only has a few?
      Hey look, Broadly is your answer to getting more online reviews. With more reviews, your business will rank higher in search results — and that means more customers coming into your shop every day.
      Broadly helps you automatically request reviews so that your customers can promote your business with just one click.
      When you immediately ask for a review after service, when the experience is still fresh in their mind, you’re more likely to get a 5-star positive review.
      Plus, asking for feedback makes your customer feel valued and more connected to your business. Isn’t that what you want a connected customer? See how Broadly can help grow your auto shop.  Visit www.getbroadly.com/carm to learn more.
      Click to go to the Podcast on Remarkable Results Radio
    • By carmcapriotto
      Mike Bennett has been in the industry since 1985. He is an ASE Master Tech who has worked for GM as Technician, Shop Foreman, Service Manager and Service Director for 2 locations.
      Mike bought his current shop, Mike’s Kars, in Gettysburg, PA in 1999. It is a a four-bay shop with 3 technicians. In 2011, he became a full-time coach with Automotive Training Institute helping shop owner’s to re-engineer and grow their businesses. Mike Bennett’s previous episodes HERE.
      Key Talking Points
      Coaching CEO’s to their next level- changing focus, being director of “what’s next?” Developing knowledge and skillset of true CEO mindset. Operate effectively in the position. Getting outside perspective from different industries Glass ceiling- going beyond being a shop owner and day to day operations Growth-minded individuals- if you’re willing to grow, growth will occur. Are you willing to put in the work? Growth of business only moves as fast as the leader goes Necessary qualification- position within the business, what is their level of involvement? Do they have solid organization below them? Second in command (COO)? 20 groups define peer networking Changes in the industry- increased professionalism and training Pandemic accelerated timeline for businesses to rise and the businesses that don’t adapt for change to fall. Succession- hot topic and reality of mortality in the working world. What does your legacy/succession look like? Sell to fund retirement? Thanks to Mike Bennett for his contribution to the aftermarket’s premier podcast. Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers. Listen for free on Apple Podcasts, Google Podcasts, Spreaker, iHeart Radio, Spotify, Podchaser, and many more. Mobile Listening APP's HERE Find every podcast episode HERE. Every episode is segmented by Series HERE. Key Word Search HERE. Be socially involved and in touch with the show:
      Facebook   Twitter  LinkedIn   Instagram  Youtube   Email  
      Join the Ecosystem - Subscribe to the INSIDER NEWSLETTER HERE.
      Buy me a coffee
      Since 1989 TRACS has been the industry’s leading shop management system. And in the last 30 years it’s gotten better and better. Today TRACS Enterprise offers even more of the features AutoCare Center owners want—things like a powerful interactive scheduling calendar, faster and streamlined work flow, plus streamlined parts ordering and purchasing options. And there’s more—Punch-out to Mitchell ProDemand, mobile VIN capture, and multi-shop capabilities. That means you can count on TRACS Enterprise to help drive your success today and well into the future.
      Learn more about TRACS Enterprise and the hundreds of other benefits the NAPA family has to offer. Talk with your servicing NAPA store or visit www.NAPAAutoCare.com
      Click to go to the Podcast on Remarkable Results Radio
    • By KAH
      I was hoping some of you might share your process for parts deliveries and returns within your shop. I made some changes due to COVID to minimize vendors having too much contact with my employees. But now looking beyond COVID I am reconsidering my entire system. Does a vendor deliver a part to your front counter/service writer? To a technician? Or do you have a dedicated "drop off" location? Also, how are returns handled? Thank you in advance for any suggestions/advice you can give me.  
    • By carmcapriotto
      Your weekly broadcast production with wisdom shared by our guest host and a virtual shop tour. There is a trivia challenge.
      Tom Ham talks about rising costs and labor rates. Tom’s previous episodes HERE Virtual Shop Tour by Eric Henley from H-Teck Auto Care in Gray, TN Eric's previous episodes HERE. Trivia Challenge: What Vehicle Won the Motor Trend SUV of the Year Award in 2020?  

      Dorman gives people greater freedom to fix vehicles by constantly developing new repair solutions that put owners and technicians first. By always innovating, Dorman has led the way in growing the aftermarket. Here you will see a few examples of a Dorman OE Fix. An OE FIX is a Dorman repair solution you can’t get from the original equipment manufacturer. It means they found a situation where they believe the OEM wasn’t giving repair professionals what they wanted, so we fixed it. Everything Dorman does is centered around providing customer value, both in the quality of products, and the creativity of solutions. Our engineers and designers go out of their way to save repair technicians time and save vehicle owners money. Want to really go under the hood? Take the Dorman Virtual Tour at www.DormanProducts.com/Tour
      Click to go to the Podcast on Remarkable Results Radio


  • Similar Tagged Content

    • 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.
    • 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/
    • By AutoShopOwner
      RALEIGH, N.C.--(BUSINESS WIRE)--Jan. 22, 2019-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers, today announced a supply partnership with the Midwest Auto Care Alliance (MWACA), https://www.mwaca.org, to provide automotive parts and training support to its member facilities.
      The newly formed MWACA, formerly known as ASA Midwest, is a nonprofit association led by independent shop owners. MWACA focuses on offering its members programs and benefits designed to help them more effectively run their businesses such as online resources and training, a mentor program and an Advance Auto Parts rebate program.
      “MWACA has been a strong supporter of Advance Professional for many years and is well known for its outstanding advocacy of independent automotive repair facilities,” said Todd Sanders, Sr. Vice President, Professional Sales at Advance. “We look forward to continuing to enhance our already strong and productive partnership with MWACA, its members and its leadership team. We are eager to help its members through excellent service and programs designed to improve shop performance and profitability.”
      Advance, a Platinum partner of MWACA, also announced a new mentorship and apprenticeship initiative designed to attract and support new technicians in the automotive service industry. The initiative will identify internal shop trainers and provide a structured on-the-job curriculum to improve technician knowledge and focus on productivity enhancements.
      Advance also is a top-level sponsor of the VISION Hi Tech Training Expo, one of MWACA’s annual events, this year being held in Overland Park, Kan. Feb. 28 – March 3.
      “The support of Advance Professional and Carquest goes back more than a quarter of a century to the earliest days of the VISION event,” said Sheri Hamilton, Executive Director of MWACA. “They continue to support the association, its events and members as we work together to support shop owners in this ever-changing industry. We are proud and thankful to take our partnership to the next level.”
      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 6, 2018, Advance operated 4,981 stores and 139 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,229 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos, British Virgin Islands and Pacific 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 Midwest Auto Care Alliance
      MWACA is a 501(c)6 non-profit trade association led by independent automotive service professionals and serving the needs of service professionals throughout Missouri, Kansas, Iowa, Nebraska, Oklahoma and Arkansas. Beginning as a seven-county Kansas City chapter in the late 1980’s, the progressive affiliate grew into ASA Missouri/Kansas, and continued to grow and expand into a six state affiliate known as ASA-Midwest. The affiliate separated from the national organization in September 2018 and became an independent regional association. As one of the premier and most active associations in the country, MWACA has chapters throughout their territory, as well as numerous Shop Owner Support (S.O.S.) Groups, a shop mentor program, and they are also the founder and host of the VISION HiTech Training & Expo event for 27 years. Information about MWACA and VISION can be found at www.mwaca.org and www.visionkc.com.
      View source version on businesswire.com: https://www.businesswire.com/news/home/20190122005571/en/
      Source: Advance Auto Parts, Inc.
    • 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/
    • 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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