Advance Auto Parts shifts into high financial gear
Roanoke, Va. – Advance Auto Parts Inc. is shifting into high gear when it comes to finance. The retailer has been selected to join the prestigious Standard & Poor’s (S&P) 500 stock index at the close of business July 8, replacing Family Dollar Stores Inc.
Family Dollar is leaving the S&P 500 now that it is being absorbed by Dollar Tree Inc. in an $8.5 billion merger. Family Dollar and Advance Auto are both classified as “consumer discretionary” stocks by the S&P 500. In its recently completed first quarter of fiscal 2015, Advance Auto’s net income rose fractionally to $148.11 million from $147.73 million and total sales increased 2% to $3.04 billion from $2.97 billion,
In addition, Advance Auto has named Roger Dattilo as VP, inventory. Dattilo will lead the company’s replenishment organization. Prior to joining Advance, Dattilo spent 27 years in the office supply industry, most recently serving as VP, inventory management and replenishment at Office Depot.