SPRINGFIELD, MO -- O’Reilly Automotive has announced comparable store sales results for the fourth quarter and year ended Dec. 31, 2007.
Comparable store sales for stores open at least one year increased 2.1 percent and 3.7 percent for the fourth quarter and year ended Dec. 31, 2007, respectively, versus a 2.1 percent and 3.3 percent respective increase in the prior year. This compares to previously issued comparable store sales guidance of 4 percent to 6 percent for the fourth quarter and 4 percent to 4.5 percent for the year.
Greg Henslee, CEO and co-president stated, “Our previous guidance of 4 percent to 6 percent for the fourth quarter was based on the strong sales trends at the end of the third quarter and the solid beginning to the fourth quarter. Sales for the first half of the fourth quarter were in line with our estimates for the quarter but fell below expectations during the holiday shopping season. We believe consumers continue to be negatively impacted by economic pressures and continue to defer discretionary maintenance on their vehicles.”
COO and Co-President Ted Wise added that the company hit its target of 190 new stores for the year, opening 56 new stores during the fourth quarter. Wise said the company has a goal to open 205 new stores in 2008.
The company’s fourth quarter 2007 earnings are scheduled to be released after 5:30 pm central time on Tuesday, Feb. 19.
For more information, go to: www.oreillyauto.com.