Restructuring Charges Drive Midas to a Net Loss of $76.2 Million in 2003
Midas reported a net loss of $76.2 million — or $4.93 per diluted share — for fiscal 2003, which ended Jan. 3. Midas said the loss is primarily the result $102.6 million in charges related to its restructuring, completed in April. As part of the restructuring, Midas exited its wholesale distribution business and refocused its resources on retail franchising and real estate businesses.
DST Asks: What Value Do You See in Sharing Detailed Sales Data?
An ongoing dilemma exists between all tiers of the supply chain due to the gulf caused by lack of collaboration and sharing of sales information that would ultimately benefit all — manufacturers, distributors, parts retailers and service providers. Where do you stand on these issues? Our objective is to generate the thought and dialogue that might provide energy to new initiatives. See our special offer at the end of this week’s column!
Advance Auto Parts Reports Record Fourth Quarter and Fiscal 2003 Results
Advance Auto Parts has reported record revenue and earnings for its fourth quarter and fiscal year, which ended January 3. Fiscal 2003 included 53 weeks of operations compared to 52 weeks in 2002, with the additional week falling in the fourth quarter of 2003. Sales increased 19.2 percent in the fourth quarter to $821.3 million from $689.2 million.
“DST Asks” Parts Distributors: Which Features of a Computerized Business Management System are Most Useful to Your Business?
Our youngest readers may not be able to remember that there was a time before remote control technology when changing the channel on your television actually required getting up off the couch and making the long walk over to it. “Channel surfing” only existed when you could get one of your kids to sit next to the TV and turn the dial for you. Life was brutal then.
Executive Interview with Jim Taylor, CEO of Thomas Group
Our latest edition of “Executive Interview” features Jim Taylor, CEO of the Thomas Group. Taylor joined the Thomas Group in 2001 as vice president and CFO. From 1997 to 2001, Taylor served as president of the Chancellor Group, a Dallas, Texas, management consulting firm, where he assisted companies in restructuring, raising funds and completing initial public offerings. Join us as Taylor tells us more about the Thomas Group culture and how it works for its clients.
Transpro Expands A/C Condenser Program
Transpro has expanded application coverage for its line of Ready-Aire Air Conditioning Condensers with the publication of a new 2004 catalog. The newly expanded product offering includes more than 400 total part numbers with coverage through the 2004 model year on several applications.
High Schoolers Earn Certifications from Industry
A diploma isn’t the only important document that some students have in hand when they graduate from high school these days. A growing number of students, educators say, are graduating with specific, industry-defined skills certifications that can have immediate value in the job market. Industries in which such certification is available include computer maintenance, automotive repair, nursing, graphic arts and food service.
MACS 2004 Convention Breaks Records
The MACS 24th annual convention and trade show, which took place in January, is reported to have broken all of MACS’ previous convention records for attendance. Registration for the event reached 2,026 this year. In addition, 41 companies participated in the society’s most generous sponsorship ever and 148 organizations exhibited in 243 booths. The MACS technical program unfolded over three days and featured 67 speakers. Five social events provided time for industry networking.
ArvinMeritor Announces 2004 Suppliers of the Year
ArvinMeritor has announced the winners of the company’s annual supplier awards. The awards — which were presented Jan. 29, at ArvinMeritor’s North American Supplier Conference in Troy, Mich. — recognize outstanding performance in customer service, product quality, delivery and cost reduction.
Executive Interview with John Washbish, President – Customer Relationship Management, Dana Automotive Aftermarket Group (AAG)
Every other week, aftermarketNews.com offers an interview with a high-profile individual in the automotive aftermarket. We give executives free rein to express their views on anything from the state of their corporations to recent legislative news to future trends in their niche markets. Here you see what matters to the newsmakers themselves.