Advance Auto Parts set to accelerate brake price rises as supply chains overheat

China 2820 Cons. Discr. - Autos 1074 Earnings 623 Mexico 815 Quote Watch 391 U.S. 5046

Advance Auto Parts reported same store sales growth for the three months to April 24 of 24.7% year over year. Demand for brakes and other consumables have picked up as U.S. drivers prepare for post-pandemic journeys. U.S. seaborne imports linked to the firm climbed 23.8% year over year in April, assisted by a 45.5% rise in brake shipments. Advance’s CFO, Jeffrey Shepherd, has noted there are rising costs “in commodities, transportation and wages” but that the industry is “very rational and successful in passing on inflationary costs in the form of price”. The CFO of O’Reilly Automotive, ...

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