Advance Auto Parts(US:AAP)2024-11-14 15:55Q3 2024 Results - Net sales were $2.1 billion, a decrease of 3.2% year-over-year[6] - Comparable sales decreased by 2.3% year-over-year[6, 9] - Gross margin was 42.3%, an increase of 541 basis points year-over-year[7, 10] - Adjusted SG&A margin was 41.5%, an increase of 130 basis points year-over-year[7, 10] - Adjusted operating income margin was 0.8%, an increase of 411 basis points year-over-year[8, 10] - Adjusted loss per share was -$0.04, an increase of $1.15 year-over-year[7, 11] Strategic Initiatives and Financial Outlook - The company is targeting approximately 7% adjusted operating income margin by FY27[13] - FY24 net sales guidance is approximately $9.0 billion[52, 60] - Store closures are expected to reduce net sales by $0.6 to $0.8 billion[53] - FY25 net sales are projected to be $8.4 to $8.6 billion, with comparable sales growth of 0.5% to 1.5% and 30 new stores opening[60] - FY27 net sales are projected to be approximately $9.0 billion, with positive low-single-digit comparable sales growth each year and 50 to 70 new stores opening per year[60]