Monday, 02 June 2014 17:15

Advance Auto Profit Up 21 Percent, Acquisition Boosts Sales

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 2014, 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 in the first quarter.