CHARLOTTE, N.C.American Tire Distributors Holdings Inc. (ATD) slid $94.6 million into the red last year, despite 31-percent higher sales.
In addition, ATD fell $407,000 into the red on an operating basis, which the company attributed to triple-digit increases in management fees and transaction expenses.
Sales for the fiscal year, which ended Jan. 3, leapt to $5.03 billion on the strength of eight acquisitions during the year that added $993.7 million in incremental sales. The net loss was 15-fold greater than in fiscal 2013.
During fiscal 2014, ATD acquired the wholesale distribution business of four western Canadian dealershipsKirk's Tire Ltd., Regional Tire Distributors Inc. of Calgary and Edmonton, and Trail Tire Distributors Ltd.along with Hercules Tire & Rubber Co. and Terry's Tire Town.
ATD noted that Canada accounted for $643.5 million of its sales last year, or 12.8 percent of total revenue, up from 8.7 percent, in 2013.
ATD distributed more than 40 million tires, which equates to an estimated consumer tire replacement market share of 14 percent in the U.S. and 25 percent in Canada.
Passenger/LT tire sales represented 82.6 percent of sales last year, with other tires accounting for 15.1 percent and tire supplies, tools and wheels the remaining 2.3 percent.