Advance Auto Parts, Inc.:  Price Adjustments and Competitive Positioning

Advanced Auto Parts, Inc. navigated a challenging Q1 2024 marked by headwinds such as inclement weather, diminished consumer purchasing power and higher credit card debt. The company’s performance came in lower than anticipated as comps declined 20 basis points year-on[1]year. However, the company saw low, single-digit improvements in its professional business with respect to both comp and transactions, driven by a targeted strategy across multiple segments, including street customers, strategic accounts, Carquest Independents and Worldpac.