Advance Auto posts 2.6% 3Q increase

ROANOKE, Va. Advance Auto Parts posted a 2.6% sales increase for the third quarter ended Oct. 4. The boost was driven by 124 net new stores and flat comparable-store sales.

Commercial comparable-store sales increased approximately 10.9% in the third quarter, continuing their double-digit comparable-store sales growth. The DIY business experienced comparable-store sales declines of approximately 4.2% in the third quarter, primarily driven by the current economic environment. The lower-than-anticipated sales growth will result in the company’s EPS to be approximately flat as compared to the fiscal 2007 third quarter reported EPS of 57 cents.

“We remain committed to investing in our strategic initiatives while prudently making the necessary adjustments to navigate through the current environment,” said president and ceo Darren Jackson. “We also remain confident in our team members’ ability to help our customers navigate through these challenging times.”