Our review of the week’s top industry news as seen on AMN begins with our exclusive Executive Interview with Larry Pavey, president of Federated Auto Parts. A lifelong industry veteran with experience in both the distribution and the manufacturing segments, Pavey reflects back on what his experience has taught him about the supplier/customer relationship. He also shares his plans for AAPEX 2012.
Quarterly financial reports from two of the biggest players in the retail and distribution segment were popular reads amongst AMN readers this week. In its third quarter report, O’Reilly Automotive reported record revenues. The Springfield, Mo.-based company reported that net income for the third quarter increased $11 million, or 7 percent, to $159 million (or 9.9 percent of sales) from $148 million (or 9.7 percent of sales) for the same period one year ago.
Advance Auto Parts reported some preliminary numbers as well. The company’s third quarter earnings per diluted share (EPS) are anticipated to be $1.21, a decrease of 14.2 percent versus the third quarter last year of $1.41. Advance said the decline in EPS was driven by a decrease in total sales for the third quarter of approximately 0.5 percent to $1.46 billion, as compared with total sales during the third quarter of fiscal 2011.
Also in the distribution segment this week, Federated member Woodbury Automotive announced the addition of two new employees to its sales team – Angelo Nesta and Bobby Figluisi – who will be sales representatives servicing Woodbury customers in the New Jersey area. Additionally, Woodbury announced the retirement of longtime sales rep, Ron Tortoriello.
Last in our look back at the week’s top news, we learn that industry leader Bill Hanvey, previously of the Schaeffler Group, has joined the Automotive Aftermarket Suppliers Association (AASA) as vice president, programs and member services, effective Sunday, Oct. 28. Hanvey’s responsibilities in his new position at AASA will include representing members on critical business issues by generating dialogue, education, planning and execution in alliance with the AASA mission.
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Whether you’re checking your mobile on the show floor or following the action from your desktop, aftermarketNews is your source for up-to-the-minute news, product announcements and events at industry week.
Beginning Monday, Oct. 29 and running through Thursday, Nov. 1, AMN will deliver a special AMN@AAPEX afternoon edition of our newsletter exclusively to subscribers. In addition to our 2012 AMN@AAPEX series, sponsored by the Automotive Distribution Network, our social media team will be live Tweeting at the show via our @AMNews_Babcox handle. Our team will monitor the #aftermarket and #AAPEX hashtags throughout the show and will be retweeting relevant news, photos, videos and attendee commentary. Follow aftermarketNews on Twitter and take part in the conversation!
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You can also connect with the aftermarketNews team face-to-face at the Babcox Media AAPEX booth No. 4626. However you choose to connect, we’d love to hear from you!
