Advance Auto Parts, Inc. (NYSE: AAP) on Thursday announced financial results for the third quarter of fiscal 2025, reporting a modest decline in sales.
Net sales were $2.0 billion in the third quarter, compared to $2.15 billion in the prior-year period. Comparable store sales moved up 3% during the quarter.
The company reported a loss of $0.02 per share for the September quarter, compared to a loss of $0.10 per share in the corresponding quarter a year earlier. Third-quarter gross profit was $0.9 billion, or 43.3% of net sales.
For fiscal 2025, the management expects net sales from continuing operations to be in the range of $8.55 billion to $8.60 billion and comparable store sales growth to be between 0.7% and 1.3%. Full-year adjusted EPS from continuing operations is expected to be $1.75-1.85.
“We continue to make progress on our strategic priorities, and based on our updated guidance we are on track to deliver approximately 200-basis points of annual margin expansion in the first year of our turnaround,” said Shane O’Kelly, the company’s chief executive officer.