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April 23, 2015 02:00 AM

NAPA parent nets moderate Q1 growth

Tire Business Staff
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    ATLANTA (April 23, 2015) — NAPA Auto Parts parent Genuine Parts Co. (GPC) generated sales and earnings in the first quarter, ended March 31, slightly above those in the year-ago period.

    GPC net income rose 2.2 percent to $161 million on a 3.1-percent increase in sales to $3.74 billion.

    Its automotive division, which includes NAPA, generated $150.6 million in operating profit and $1.9 billion in sales, nearly on par with the year-ago period.

    “We are pleased to report a solid start to 2015 and, although our sales and earnings growth rates moderated from the results reported in recent quarters, we performed in line with our expectations,” said Chairman and CEO Tom Gallagher.

    “Our total sales increase of 3 percent included approximately 4 percent underlying sales growth and a 1.5 percent contribution from acquisitions, offset by a currency headwind of approximately 2 percent. Sales for the Automotive Group were flat with the prior year and consisted of core automotive growth of approximately 3 percent and a slight benefit from acquisitions, less the negative impact of currency of approximately 4 percent.” 

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