Advance Auto Parts, Inc. (NYSE: AAP) on Thursday reported a narrower net loss for the third quarter of 2024, when the automotive parts retailer’s sales declined modestly.
The company reported a net loss of $6.0 million or $0.10 per share for the third quarter, compared to a loss of $62.0 million or $1.04 per share in the year-ago quarter.
Net sales decreased 3% year-over-year to $2.15 billion during the three months. Comparable store sales for the third quarter decreased 2.3%
Shane O’Kelly, the company’s CEO, said, “We are charting a clear path forward and introducing a new three-year financial plan, with a focus on executing core retail fundamentals to improve the productivity of all our assets and to create shareholder value.”