- Advance Auto Parts (NYSE:NYSE:AAP) reports comparable-store sales rose 0.7% in Q1.
- Comparable gross profit rate increased 31 bps to 45.9% primarily due to achieved merchandise cost synergies.
- SG&A rate declined 26 bps to 35.7%, primarily the result of achieved cost synergies and lower incentive compensation.
- Comparable operating margin rate grew 50 bps to 10.1%.
- Inventory +4.93% Y/Y to $4.10B.
- Store count -31 Y/Y to 5,350.
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FY2015 Guidance: Interest expense: ~$64M; Tax rate: 37.5% to 38%; Diluted share count: ~73.7M; Cash EPS: $8.10 to $8.30.
- AAP -3.87% premarket.