A Brief History of Advance Auto Parts, Inc. (AAP)

Advance Auto Parts, Inc. (AAP) is a prominent American automotive aftermarket parts provider. The company's journey from a small operation to a major industry player is marked by significant milestones and strategic acquisitions.

1932: The company was founded in Roanoke, Virginia, by Arthur Taubman. Originally, it started as a modest auto parts store that catered to the needs of local drivers.

1998: Advance Auto Parts became a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol "AAP."

2001: The acquisition of Carport Auto Parts allowed Advance Auto Parts to expand its reach significantly, adding over 100 stores in the Midwest.

2005: The company further solidified its presence with the acquisition of Autopart International, extending its market reach and product offerings.

2014: One of the company's most substantial moves was the acquisition of General Parts International, Inc., which included the Carquest and Worldpac brands. This acquisition made Advance Auto Parts the largest automotive aftermarket parts provider in North America.

2018: The company announced a strategic partnership with Walmart, enabling customers to purchase Advance Auto Parts products through Walmart's online platform.

Several strategic decisions and milestones throughout its history have helped Advance Auto Parts, Inc. grow and thrive in the competitive automotive aftermarket industry.

• 1932: Foundation in Roanoke, Virginia
• 1998: Became a publicly traded company
• 2001: Acquired Carport Auto Parts
• 2005: Acquired Autopart International
• 2014: Acquired General Parts International (Carquest and Worldpac)
• 2018: Partnered with Walmart for online sales

Who Owns Advance Auto Parts, Inc. (AAP)

Advance Auto Parts, Inc. (AAP) is a publicly traded company, meaning its ownership is distributed among a broad array of individual and institutional shareholders. As of the latest information, the company's shares are primarily held by large institutional investors and mutual funds.

The ownership structure of AAP can be broken down as follows:

• Institutional Investors: These include pension funds, insurance companies, and mutual funds. They typically hold substantial amounts of the company's stock, influencing corporate decisions and strategies.
• Mutual Funds: Various mutual funds that invest in retail or automotive sectors often hold significant shares of AAP.
• Individual Shareholders: These include retail investors who buy shares through stock exchanges. While their stake is generally smaller compared to institutional investors, they collectively own a significant portion of the company.

Key institutional investors often include major financial firms and investment companies. Their ownership stakes can fluctuate based on market conditions, investment strategies, and trading activities. While the exact percentages and names of these shareholders can change over time, they typically maintain a prominent role in the company's governance and financial health.

Advance Auto Parts, Inc. (AAP) Mission Statement

Advance Auto Parts, Inc. (AAP) is committed to serving its customers with high-quality automotive parts and services. The core of their mission statement revolves around ensuring customer satisfaction, operational excellence, and community engagement. Below are the key elements of their mission statement:

• Customer Focus: AAP prioritizes delivering exceptional customer service, ensuring that every customer finds the right parts and receives the best advice for their automotive needs.
• Quality Products: The company is dedicated to providing a wide range of reliable and high-quality automotive parts and accessories to meet diverse customer demands.
• Operational Excellence: AAP continually strives for operational efficiency, aiming to improve supply chain logistics and streamline store operations for better customer experiences.
• Innovation: Embracing innovation is central to AAP’s mission, as they adopt new technologies and practices to enhance their service offerings and keep up with industry advancements.
• Community Engagement: AAP is committed to making a positive impact in the communities they serve, actively participating in local events, charitable activities, and sustainability initiatives.
• Employee Development: Investing in the growth and development of their employees is essential, with AAP providing training and career advancement opportunities to foster a motivated and skilled workforce.

Advance Auto Parts, Inc. (AAP) continues to uphold its mission through a relentless focus on these core principles, ensuring that they remain a trusted partner for automotive needs across the nation.

How Advance Auto Parts, Inc. (AAP) Works

Advance Auto Parts, Inc. (AAP) is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself (DIY) customers. The company operates through a robust network of stores and distribution centers to offer a wide array of automotive products and services. Here's a detailed look at how AAP operates:

• Retail Stores: AAP operates thousands of retail stores across the United States, Canada, Puerto Rico, and the U.S. Virgin Islands. These stores provide a variety of automotive parts, tools, and accessories.
• Professional Sales: The company also caters to professional installers and automotive repair shops through dedicated sales channels.

• Automotive Parts: AAP offers replacement parts, performance parts, and maintenance items such as batteries, brakes, and filters.
• Tools and Equipment: The stores provide an extensive range of tools and equipment necessary for automotive repairs and maintenance.
• Accessories: Customers can find various automotive accessories, including car care products, seat covers, and GPS systems.

• Distribution Centers: The company has multiple distribution centers strategically located to ensure timely delivery of products to stores and customers.
• Efficient Logistics: Advanced logistics and inventory management systems help in maintaining optimal stock levels and reducing lead times.

• E-Commerce Platform: AAP has an extensive online presence, allowing customers to browse and purchase products through its website and mobile app.
• In-Store Pickup: Customers can order online and pick up their purchases at a nearby store, providing convenience and speed.
• Home Delivery: The company also offers home delivery services for online orders.

• Knowledgeable Staff: AAP employs knowledgeable staff who assist customers with their automotive needs, offering advice and recommendations.
• Loyalty Programs: The company runs loyalty programs and special promotions to reward frequent customers.

In summary, Advance Auto Parts, Inc. (AAP) operates through a combination of retail and professional channels, offering a wide range of automotive products and services, supported by an efficient supply chain and a significant online presence.

How Advance Auto Parts, Inc. (AAP) Makes Money

Advance Auto Parts, Inc. (AAP) is a leading automotive aftermarket parts provider in North America. The company operates through various channels and offers a wide range of products and services to its customers. Below are the key revenue streams that drive AAP's business:

• Retail Sales: A significant portion of AAP's revenue comes from retail sales. The company operates thousands of stores across the United States, Canada, Puerto Rico, and the Virgin Islands. Consumers visit these stores to purchase a variety of automotive parts, accessories, batteries, and maintenance items.
• Commercial Sales: Another substantial revenue stream for AAP is commercial sales. The company supplies parts and services to professional installers, garages, and repair shops. A dedicated sales force and delivery network ensure timely availability of products to these business customers.
• Online Sales: With the increasing trend towards e-commerce, AAP has also established a robust online presence. The company's websites and mobile apps offer a convenient platform for customers to browse and purchase products. Online sales include direct-to-consumer shipping and buy-online-pick-up-in-store options.
• Private Label Brands: AAP generates additional revenue through its private label brands such as Carquest and Autocraft. These brands offer customers an alternative to national brands, often at a lower price point, while maintaining high quality.
• Membership Programs: AAP's loyalty programs, such as Speed Perks, encourage repeat business by offering discounts and rewards to frequent shoppers. This not only boosts sales but also enhances customer retention.
• Value-Added Services: The company offers various value-added services such as battery installation, oil recycling, and “Borrow-A-Tool” programs. These services attract customers to its stores, providing additional revenue streams while enhancing the overall shopping experience.

By diversifying its revenue streams across these categories, AAP effectively captures a broad market audience, from individual consumers to professional enterprises, ensuring a steady flow of income and sustained growth.