World Library  
Flag as Inappropriate
Email this Article

Trak Auto

Article Id: WHEBN0004716077
Reproduction Date:

Title: Trak Auto  
Author: World Heritage Encyclopedia
Language: English
Subject: Herbert Haft, List of defunct retailers of the United States, Shoppers Food & Pharmacy, Dart Drug, Crown Books
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Trak Auto

Advance Auto Parts, Inc.
Public
Traded as AAP
Industry Auto Parts Retail
Founded 1932
Headquarters Roanoke, VA, USA
Number of locations 4,000+
Key people John C. Brouillard
(Chairman of the Board)
Darren R. Jackson
(CEO) & (Director)
Mike Norona, EVP & CFO
Products Replacement automotive parts & accessories
Revenue Increase US$5.41 Billion (FY 2009)[1]
Operating income Increase US$454 Million (FY 2009)[1]
Net income Increase US$270 Million (FY 2009)[1]
Total assets Increase US$3.07 Billion (FY 2009)[2]
Total equity Increase US$1.28 Billion (FY 2009)[2]
Employees 55,000 - January 2009
Website AdvanceAutoParts.com


Advance Auto Parts, is headquartered in Roanoke, Virginia,[3] and is now the largest retailer of automotive replacement parts and accessories in the United States [4] after acquiring CARQUEST in October 2013. AAP was founded in 1932 and had 2011 sales of approximately $6.2 billion. AAP operates over 3,800 stores in forty U.S. states and has over 55,000 employees.

In 2005, Advance Auto Parts purchased Autopart International, Inc. which operates 202 stores along the Atlantic Seaboard.

In 2013 AAP Purchased General Parts Inc. including CARQUEST, CARQUEST Canada and WorldPac for $2.04 Billion Dollars.

History

In 1932 Arthur Taubman purchased from Pep Boys, the Advance Stores, with two stores in Roanoke, Virginia and one in Lynchburg, Virginia.

The first major expansion of Advance Auto Parts was in 1998 when the company acquired the remaining operations of Western Auto, an auto parts and general store retailer. Most of the Western Auto operations had been taken over by Sears, Roebuck and Co. in 1987.

In April 2001, New York Stock Exchange under the symbol AAP. The year ended with 2,484 stores in 38 states.

In July 2002, Advance Auto Parts received bankruptcy court approval to acquire 57 Trak Auto Parts Stores in northern Virginia, Washington, DC, and eastern Maryland.[5][6]

In Sep, 2006, Advance Auto Parts (NYSE:AAP) announced an agreement with ADMMicro, a VA-based company, to retrofit certain existing stores and equip new stores with an Energy Management System (EMS).[7]

Advance now operates 4,000 locations in 40 states including Puerto Rico & the Virgin Islands using the following branded names: Advance Auto Parts, Advance Discount Auto Parts, and Western Auto (Puerto Rico & Virgin Islands).

Also, in 2010 Advance Auto Parts announced a deal with Monster Jam to become the title sponsor. The company sponsors a truck on the circuit called the Advance Auto Parts Grinder.

On October 16th 2013, Advance Auto Parts entered into a definitive agreement to acquire General Parts International, Inc. (GPI), a leading privately held distributor and supplier of original equipment and aftermarket replacement products for commercial markets operating under the CARQUEST and WORLDPAC brands, in an all-cash transaction with an enterprise value of $2.04 billion. The transaction has been approved by the boards of directors for both companies. The deal creates the largest automotive aftermarket parts provider in North America, with annual sales of more than $9.2 billion and more than 70,000 employees.

Recognitions

Advance Auto Parts is now the largest automotive aftermarket retailer in the United States based on sales and store count. The company premiered on the Fortune 500 list of companies in 2003 at No. 466 and has remained on the list since that time. As of January 2006, it was ranked at No. 1,497 on the Forbes magazine "World's Biggest Public Companies" list, and in 2005 Forbes named it as being the best-managed company in the retail sector.

Advance's organizational development and training programs were named to Training Magazine's Top 100 list in 2003 at No. 54, and the company has remained on the list since that time. Advance's Information Technology department has been nationally recognized by being named to the Information Week 500 list of top ranking business users of technology every year since 2003, when the company debuted on the list at No. 448.

Advance has received numerous recognitions for charitable contributions. The company has been nationally recognized for its fundraising for the Juvenile Diabetes Research Foundation (JDRF), having donated more than $20 million since 1994.

References

External links

Virginia portal
Companies portal
Cars portal
  • Advance Auto Parts
  • Advance Auto Parts Mobile Web Site
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.