Advance Auto Parts reported $2.0 billion in second-quarter sales, essentially flat from a year ago. Comparable store sales declined 0.5% as tighter household budgets weighed on the DIY business.
For independent dealers, the company’s Pro business offered a brighter spot, with comparable sales in the Pro channel growing in the low single digits. Advance said Main Street Pro trends also outpaced overall Pro trends.
“During the second quarter, the Advance team maintained focus on executing our strategic initiatives to achieve solid profitability, while navigating a volatile demand environment and I thank the team for their hard work and commitment to serving our customers,” said Shane O’Kelly, president and CEO.
Advance’s gross profit margin improved to 46.2%, compared with 43.5% a year earlier. The company also said it returned to positive year-to-date free cash flow after two years of outflows.
