Advance Auto Parts

Retailer of automotive parts and accessories.

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Headquarters:
5008 Airport Road
Roanoke, VA 24012
Employees: 73,000
CEO: Darren Jackson
Stock Symbol: AAP

Website: http://www.advanceautoparts.com

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Advance Auto Parts is the nation's largest retailer of automotive parts, batteries, maintenance items and accessories. The company serves both the do-it-yourself and professional installer markets.

Advance operates 5,261 company-operated stores, 111 Worldpac branches, and services approximately 1,325 independently owned Carquest branded stores.

In fiscal 2014, Advance Auto reported revenues of $9.84 billion and net income of $493.8 million.

In January 2014, the company completed its acquisition of General Parts International for $2 billion, a leading privately held distributor and supplier of original equipment and aftermarket replacement products for commercial markets operating under the Carquest and WorldPac brands.

The company plans to open 100-120 new stores in 2015.

History

In 1932, Arthur Taubman purchased a small chain of home and auto supply stores in Roanoke, VA and one in Lynchburg, VA. Advance Stores carried a wide variety of merchandise, including appliances, TV sets, toys and bicycles, and operated under Arthur Taubman's strict four-point philosophy: value, reputation, satisfaction, respect.

During the 1970's, the company modernized the name of its stores to Advance Auto. The newly renamed chain of stores eliminated home appliances and several other products and concentrated increasingly on its core automotive parts business.

The 1980's began a rapid, yet carefully planned, expansion. As part of this expansion, Advance Auto began to sharpen its marketing focus on automotive hard parts for "do-it-yourselfers". In order to meet the needs of these customers, the Company introduced its new PDQ, Parts Delivered Quickly, system in 1982. This innovative service allowed customers access to more than 25,000 automotive components (in excess of 250,000 today), within a 24-hour period.

In 1985, to emphasize the PDQ system and the Company's dedication to automotive hard parts, Advance Auto's name evolved into Advance Auto Parts.

Over the past few years, Advance Auto has made several acquisitions, including: Carport Auto Parts, Discount Auto Parts and Kar Parts Auto Stores.

The company acquired BWP Distributors at the end of 2012. BWP has 124 stores that distribute automotive parts and products mostly to commercial customers.

Benefits

- Health Care Plan (Medical, Prescription Drugs, Dental And Vision Benefits)
- Optional Vision Care Coverage
- Optional Dental Coverage
- 401(K) Retirement Savings Plan
- Stock Purchase Plan
- Company Paid Life Insurance
- Sick Leave
- Vacation Time
- Holiday Pay
- Optional Team Member Life & Accidental Death & Dismemberment Insurance
- Optional Spouse Life & Accidental Death & Dismemberment Insurance
- Optional Dependent Child Life & Accidental Death & Dismemberment Insurance
- Optional Short-Term And Long-Term Disability Insurance
- Medical And Dependent Care Flexible Spending Accounts
- Optional Part-Time Team Member Benefits Plan: Including limited Medical, Short Term Disability, and Term Life Insurance
- Team Member Store Discount
- Lifebalance Program (Team Member Assistance Program)
- Business Travel Accident Insurance
- Optional Legal Benefits Plan
- Military Leave
- Jury Duty
- Bereavement Leave
- Dependent Scholarships
- Service Awards

Updated February 15, 2015