secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCE AUTO PARTS INC (AAP)
CIK:        0001158449
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0001158449-23-000237
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Advance Auto Parts Q3 diluted loss $0.82 vs profit $1.92; initiates Worldpac, Canada sale
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- Q3 net sales $2.7B (+2.9% YoY); comparable store sales +1.2%.
- Gross margin fell to 36.3% from 44.6% YoY, driven by $119M inventory reserve charge and higher product costs.
- Diluted loss per share $(0.82) vs prior-year EPS of $1.92; operating loss $43.7M.
- Initiating separate sale processes for Worldpac and Canadian business; Centerview Partners engaged.
- FY 2023 diluted EPS guidance cut to $1.40-$1.80 from $4.50-$5.10; operating margin now 1.8%-2.0%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1158449/000115844923000237/0001158449-23-000237-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1158449/000115844923000237/aap-20231115.htm
  HTML page:      https://secwatch.observer/filing/0001158449-23-000237

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