Advance Auto Parts Appoints Ryan Grimsland as Executive Vice President and Chief Financial Officer

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Go back to Advance Auto Parts Appoints Ryan Grimsland as Executive Vice President and Chief Financial Officer

Advance Auto Parts (AAP) falls on mixed Q3 and lower guidance, looks to streamline with sale of Worldpac

November 15, 2023 7:14 AM EST

Shares of Advance Auto Parts (NYSE: AAP) fell nearly 5% in early trading Wednesday after posting mixed third quarter results, lowering its FY guidance, announcing a new CFO, and initiating separate sale processes for Worldpac and Canadian businesses.

Third quarter net sales rose 2.9% to $2.7 billion, which modestly beat the consensus of $2.68 billion. Comparable store sales increased by 1.2%. The company reported a loss of ($0.86) per share, versus the consensus of $1.44.

The company lowered the top... More