May 15 Auto parts retailer Advance Auto Parts
Inc reported a 21 percent rise in quarterly profit,
helped by the acquisition of the biggest operator of the
Carquest chain of auto repair shops and car parts stores.
Advance Auto completed the acquisition of General Parts
International Inc in January, making the company the largest
auto parts retailer by sales in the United States.
Advance Auto's net income as reported rose to $147.7
million, or $2.01 per share, in the first quarter ended April 19
from $121.8 million, or $1.65 per share, a year earlier.
Revenue rose 47 percent to $2.97 billion. Same store sales
rose 2.4 percent.
(Reporting by Rohit T. K. in Bangalore; Editing by Savio