AAP shares ended its last trading session 1.68% in green on Tuesday. In the past 12 months, the stock has gained almost 40%.
Adjusted profit
margin saw a 37 basis points improvement, primarily driven by favorable product
margin and improved inventory management.
CEO Tom Greco said, “Our free cash flow improved by nearly 20% as a result of our continued disciplined approach to cash management. The early progress against our strategic transformation agenda is becoming more evident throughout our culture and in our improving results.”
READ: HEWLETT PACKARD ENTERPRISE EXPECTED TO POST Q2 EPS OF $0.36
The company also reaffirmed its outlook for full-year 2019. The North Carolina-based company expects net sales between $9.65 billion and $9.8 billion, with comp sales increase projected in the range of 1% to 2.5%.
Rival AutoZone (NYSE: AZO) yesterday reported better-than-expected earnings and sales for the third quarter of 2019, aided by strong comparable store sales. The company’s stock gained nearly 3% following the announcement.