Advance Auto misses 4Q mark

ROANOKE, Va. Advance Auto Parts reported that fourth-quarter earnings per diluted share were 36 cents which included a 3-cent charge related to store divestitures. Earnings per diluted share were 26 cents for the same period last year. On a comparable basis, EPS decreased 5% to 39 cents.For fiscal 2009, on a comparable basis, EPS increased 14% to $3 on top of a 16% increase in EPS last year.

"While our fourth quarter financial performance did not meet our expectations, we believe it is a short-term setback versus a long-term trend" said Darren Jackson, CEO."Our fiscal 2009 results exceeded our expectations strategically and financially.Overall, our performance, as measured through our customers, team members, growth and returns, has reached all-time highs and I am confident we are moving in the right direction."

On a comparable basis, total sales for the fourth quarter increased 3.6% to $1.14 billion, compared with total sales of $1.10 billion in the fourth quarter of fiscal year 2008. The sales increase reflected the net addition of 52 new stores during the past 12 months and a comparable-store sales gain of 2.4% compared with a 3% gain during the fourth quarter of fiscal 2008. For fiscal 2009, the company's comparable-store sales increased 5.3% versus a 1.5% increase during fiscal 2008.

In fiscal 2010, the company anticipates a low to approaching mid single-digit increase in comparable-store sales primarily driven by continued strong Commercial sales growth. The company estimates an EPS range of approximately $3.20 to $3.40 for fiscal 2010.