US AUTO PARTS - (PRTS) @ $1.07 ==> SEC FILING => North Star Asset Mgmt - Files 5.11% percent Share Ownership in => (PRTS). Filing "Significant" Beneficial Ownership in: US AUTO PARTS - (PRTS) Eric Kuby, Chief Investment Officer of North Star Investment Management Has filed a new "13G" SEC Filing ... Reporting a 5.11% ownership in => (PRTS) REFERENCE LINK https://goo.gl/kQfqvy -
U.S. Auto Parts Appoints David Kanen to Board of Directors
PR Newswire•January 23, 2019
PR Newswire•January 23, 2019
CARSON, Calif., Jan. 23, 2019 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, has appointed David Kanen to its board of directors, effective immediately. His appointment expands the board to nine members and fills an open vacancy.
U.S. Auto Parts logo (PRNewsfoto/U.S. Auto Parts Network, Inc.)
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Kanen currently serves as the managing member of Kanen Wealth Management, LLC, a registered investment advisor, and is the largest stockholder of U.S. Auto Parts. Prior to founding Kanen Wealth Management, he held several investment advisory positions over the course of his career, including serving as an independent advisor for Aegis Capital and financial advisor for A.G. Edwards & Sons. Kanen also serves on the board of directors for Famous Dave's of America, Inc., which develops, owns, operates and franchises barbeque restaurants.
"We are delighted to welcome David to our board. David brings nearly three decades of advisory and leadership experience," said Barry Phelps, Chairman of the Board for U.S. Auto Parts. "His strategic insight will be an invaluable asset as the company looks to capitalize on the growing online demand for aftermarket auto parts. And with the addition of our largest stockholder to the board, we believe our stockholders' interests will be very well-aligned with the strategic direction from our board."
Kanen commented: "U.S. Auto Parts is uniquely positioned to serve today's consumer with a robust e-commerce platform and marketplace business that provides affordable aftermarket auto parts to consumers across the country. I look forward to collaborating with the rest of the board and management team as we develop and refine leading strategies to return U.S. Auto Parts to growth and deliver stockholder value."
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites include www.autopartswarehouse.com, www.carparts.com, and www.jcwhitney.com, as well as the Company's corporate website at www.usautoparts.net.
U.S. Auto Parts is headquartered in Carson, California.
U.S. Auto Parts logo (PRNewsfoto/U.S. Auto Parts Network, Inc.)
More
Kanen currently serves as the managing member of Kanen Wealth Management, LLC, a registered investment advisor, and is the largest stockholder of U.S. Auto Parts. Prior to founding Kanen Wealth Management, he held several investment advisory positions over the course of his career, including serving as an independent advisor for Aegis Capital and financial advisor for A.G. Edwards & Sons. Kanen also serves on the board of directors for Famous Dave's of America, Inc., which develops, owns, operates and franchises barbeque restaurants.
"We are delighted to welcome David to our board. David brings nearly three decades of advisory and leadership experience," said Barry Phelps, Chairman of the Board for U.S. Auto Parts. "His strategic insight will be an invaluable asset as the company looks to capitalize on the growing online demand for aftermarket auto parts. And with the addition of our largest stockholder to the board, we believe our stockholders' interests will be very well-aligned with the strategic direction from our board."
Kanen commented: "U.S. Auto Parts is uniquely positioned to serve today's consumer with a robust e-commerce platform and marketplace business that provides affordable aftermarket auto parts to consumers across the country. I look forward to collaborating with the rest of the board and management team as we develop and refine leading strategies to return U.S. Auto Parts to growth and deliver stockholder value."
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites include www.autopartswarehouse.com, www.carparts.com, and www.jcwhitney.com, as well as the Company's corporate website at www.usautoparts.net.
U.S. Auto Parts is headquartered in Carson, California.
U.S. Auto Parts Reports Fourth Quarter and Full Year 2018 Results
PR NewswireMarch 7, 2019
CARSON, Calif., March 7, 2019 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, is reporting results for the fourth quarter and full year ended December 29, 2018. All information and data are from continuing operations, which exclude the AutoMD operating segment unless specifically noted.
Fourth Quarter 2018 Highlights vs. Year-Ago Quarter
"U.S. Auto Parts has a rich history of providing consumers with affordable aftermarket auto parts, be it through the company's robust e-commerce platform or its third-party online marketplace partners," said Lev Peker, CEO of U.S. Auto Parts. "We are also uniquely positioned in an online industry sector that is expected to more than double by 2023 as consumers continue to shift their auto parts shopping online. We have strong assets in place, a highly-efficient supply chain and over 1.5 million SKUs of high-quality private label and branded products to serve this growing consumer base."
"U.S. Auto Parts struggled in 2018, and the company's results have been disappointing to everyone. However, having assumed the leadership role just a few months ago, I have already identified multiple opportunities designed to return U.S. Auto Parts to profitable revenue growth, particularly within our e-commerce channel. This will require a reallocation of resources and incremental investments in personnel, technology and marketing strategies in 2019, along with a better utilization of the millions of consumer data points we generate every month."
"We are in the early stages of developing and deploying these new initiatives, and we will likely have to take a step back before moving forward. However, we expect to begin realizing some of the benefit from these initiatives towards the end of 2019. Although we have plenty of work ahead, we have every expectation of growing revenue in 2019 and delivering positive adjusted EBITDA. The opportunities ahead for U.S. Auto Parts are just beginning, and I look forward to leading the team and all stakeholders into this next chapter of growth."
https://finance.yahoo.com/news/u-auto-parts-reports-fourth-210100531.html
PR NewswireMarch 7, 2019
CARSON, Calif., March 7, 2019 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, is reporting results for the fourth quarter and full year ended December 29, 2018. All information and data are from continuing operations, which exclude the AutoMD operating segment unless specifically noted.
Fourth Quarter 2018 Highlights vs. Year-Ago Quarter
- Net sales were $64.6 million compared to $68.5 million.
- Gross margin was 25.6% compared to 30.3%.
- Net loss was $4.5 million, or $(0.13) per share, compared to $4.1 million or $(0.12) per diluted share.
- Adjusted EBITDA (a non-GAAP measure defined below) was $0.7 million compared to $2.8 million.
- Ended the quarter with no revolver debt.
- Net sales were $289.5 million compared to $303.4 million.
- Gross margin was 27.2% compared to 29.6%.
- Net loss was $4.9 million, or $(0.14) per share, compared to net income of $24.6 million or $0.62 per diluted share.
- Adjusted EBITDA was $10.4 million compared to $14.2 million.
"U.S. Auto Parts has a rich history of providing consumers with affordable aftermarket auto parts, be it through the company's robust e-commerce platform or its third-party online marketplace partners," said Lev Peker, CEO of U.S. Auto Parts. "We are also uniquely positioned in an online industry sector that is expected to more than double by 2023 as consumers continue to shift their auto parts shopping online. We have strong assets in place, a highly-efficient supply chain and over 1.5 million SKUs of high-quality private label and branded products to serve this growing consumer base."
"U.S. Auto Parts struggled in 2018, and the company's results have been disappointing to everyone. However, having assumed the leadership role just a few months ago, I have already identified multiple opportunities designed to return U.S. Auto Parts to profitable revenue growth, particularly within our e-commerce channel. This will require a reallocation of resources and incremental investments in personnel, technology and marketing strategies in 2019, along with a better utilization of the millions of consumer data points we generate every month."
"We are in the early stages of developing and deploying these new initiatives, and we will likely have to take a step back before moving forward. However, we expect to begin realizing some of the benefit from these initiatives towards the end of 2019. Although we have plenty of work ahead, we have every expectation of growing revenue in 2019 and delivering positive adjusted EBITDA. The opportunities ahead for U.S. Auto Parts are just beginning, and I look forward to leading the team and all stakeholders into this next chapter of growth."
https://finance.yahoo.com/news/u-auto-parts-reports-fourth-210100531.html
[FONT="][h=1]U.S. Auto Parts Appoints David Meniane to COO & CFO[/h][/FONT]
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PR Newswire•March 15, 2019
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https://finance.yahoo.com/news/u-auto-parts-appoints-david-110000507.html
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PR Newswire•March 15, 2019
[/FONT]
https://finance.yahoo.com/news/u-auto-parts-appoints-david-110000507.html
U.S Auto Parts Reports First Quarter 2019 Results
CARSON, Calif., May 9, 2019 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (NASDAQ: PRTS), one of the largest online providers of aftermarket automotive parts and accessories, is reporting results for the first quarter ended March 30, 2019.
First Quarter 2019 Highlights vs. Year-Ago Quarter
"During the first quarter, we began to lay the foundation to return U.S. Auto Parts to profitable revenue growth," said Lev Peker, CEO of U.S. Auto Parts. "I took over the leadership position in January, and we have already begun to rebuild and strengthen our team with a new chief marketing officer, chief legal officer, and chief operating and financial officer, all of whom bring unique qualifications and skillsets to U.S. Auto Parts. We have also brought in critical personnel to execute our new growth strategy, including a new user experience team, SEM and content teams, and retention marketing teams.
"We began to deploy various strategic initiatives during the quarter, including the consolidation of multiple websites and marketplace stores. As mentioned on our last quarterly update, we want to focus our resources on fewer properties to do a better job at both growing and optimizing these sites, while ensuring each property has a unique and differentiated value proposition for the customer.
"Subsequent to the quarter, in an effort to reduce shipping times, we signed a new lease for a 125,000 square foot distribution center in Las Vegas, Nevada. We expect this new facility to go live in September and will enable us to provide two-day delivery to 93% of the country.
"Although we have begun to take the necessary steps to return U.S. Auto Parts to growth, there is still much work to be done, particularly with improving our in-stock rates as we continue to be impacted by prior management decisions pertaining to the customs issue. Nevertheless, we remain committed to achieving revenue growth and positive adjusted EBITDA in 2019, and continue to expect the benefit of our various initiatives to materialize as we exit the year."
First Quarter 2019 Financial Results
Net sales in the first quarter of 2019 were $74.7 million compared to $78.4 million in the year-ago quarter. The decline was largely driven by a 6% decrease in e-commerce sales attributable to a reduction of traffic and lower in-stock rates resulting from the Company's customs issue.
Gross profit in the first quarter of 2019 was $20.1 million compared to $23.2 million in the year-ago quarter. As a percentage of net sales, gross profit was 26.9% compared to 29.6%. The decrease was primarily driven by increased freight along with costs associated with port and carrier fees from the customs issue.
Total operating expenses in the first quarter were $23.6 million compared to $21.9 million in the first quarter of last year. As a percentage of net sales, operating expenses increased to 31.5% compared to 27.9% in the year ago quarter with the increase primarily driven by employee transition costs, increased marketing spend and investments in marketing platforms and employees.
Net loss in the first quarter was $3.6 million, or $(0.10) per share, compared to net income of $0.6 million or $0.01 per share in the year-ago period.
Adjusted EBITDA in the first quarter of 2019 was $(0.1) million compared to $4.3 million in the year-ago quarter, with the decrease primarily driven by lower traffic to the Company's e-commerce sites, along with lower in-stock rates due to the customs issue.
At March 30, 2019, cash and cash equivalents totaled $4.8 million compared to $2.0 million at December 29, 2018. The Company also had no revolver debt at each of March 30, 2019 and December 29, 2018.
Conference Call
U.S. Auto Parts will conduct a conference call today at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss its financial results for the first quarter ended March 30, 2019.
The Company's CEO Lev Peker and CFO/COO David Meniane will host the conference call, followed by a question and answer period.
Date: Thursday May 9, 2019
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 877‑407‑9039
International dial-in number: 201‑689‑8470
Conference ID: 13689562
Please call the conference telephone number 5‑10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios at 1‑949‑574‑3860.
The conference call will be broadcast live and available for replay via the investor relations section of the Company's website at www.usautoparts.net.
A telephone replay of the conference call will also be available on the same day through May 23, 2019.
Toll-free replay number: 844‑512‑2921
International replay number: 412‑317‑6671
Replay ID: 13689562
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites include www.autopartswarehouse.com, www.carparts.com, and www.jcwhitney.com, as well as the Company's corporate website at www.usautoparts.net.
U.S. Auto Parts is headquartered in Carson, California.
First Quarter 2019 Highlights vs. Year-Ago Quarter
- Net sales were $74.7 million compared to $78.4 million.
- Gross margin was 26.9% compared to 29.6%.
- Net loss was $3.6 million or $(0.10) per share, compared to net income of $0.6 million or $0.01 per share.
- Adjusted EBITDA (a non-GAAP measure defined below) was $(0.1) million compared to $4.3 million.
- Ended the quarter with no revolver debt.
- Conversion rate increased 30 basis points to 2.6%.
"During the first quarter, we began to lay the foundation to return U.S. Auto Parts to profitable revenue growth," said Lev Peker, CEO of U.S. Auto Parts. "I took over the leadership position in January, and we have already begun to rebuild and strengthen our team with a new chief marketing officer, chief legal officer, and chief operating and financial officer, all of whom bring unique qualifications and skillsets to U.S. Auto Parts. We have also brought in critical personnel to execute our new growth strategy, including a new user experience team, SEM and content teams, and retention marketing teams.
"We began to deploy various strategic initiatives during the quarter, including the consolidation of multiple websites and marketplace stores. As mentioned on our last quarterly update, we want to focus our resources on fewer properties to do a better job at both growing and optimizing these sites, while ensuring each property has a unique and differentiated value proposition for the customer.
"Subsequent to the quarter, in an effort to reduce shipping times, we signed a new lease for a 125,000 square foot distribution center in Las Vegas, Nevada. We expect this new facility to go live in September and will enable us to provide two-day delivery to 93% of the country.
"Although we have begun to take the necessary steps to return U.S. Auto Parts to growth, there is still much work to be done, particularly with improving our in-stock rates as we continue to be impacted by prior management decisions pertaining to the customs issue. Nevertheless, we remain committed to achieving revenue growth and positive adjusted EBITDA in 2019, and continue to expect the benefit of our various initiatives to materialize as we exit the year."
First Quarter 2019 Financial Results
Net sales in the first quarter of 2019 were $74.7 million compared to $78.4 million in the year-ago quarter. The decline was largely driven by a 6% decrease in e-commerce sales attributable to a reduction of traffic and lower in-stock rates resulting from the Company's customs issue.
Gross profit in the first quarter of 2019 was $20.1 million compared to $23.2 million in the year-ago quarter. As a percentage of net sales, gross profit was 26.9% compared to 29.6%. The decrease was primarily driven by increased freight along with costs associated with port and carrier fees from the customs issue.
Total operating expenses in the first quarter were $23.6 million compared to $21.9 million in the first quarter of last year. As a percentage of net sales, operating expenses increased to 31.5% compared to 27.9% in the year ago quarter with the increase primarily driven by employee transition costs, increased marketing spend and investments in marketing platforms and employees.
Net loss in the first quarter was $3.6 million, or $(0.10) per share, compared to net income of $0.6 million or $0.01 per share in the year-ago period.
Adjusted EBITDA in the first quarter of 2019 was $(0.1) million compared to $4.3 million in the year-ago quarter, with the decrease primarily driven by lower traffic to the Company's e-commerce sites, along with lower in-stock rates due to the customs issue.
At March 30, 2019, cash and cash equivalents totaled $4.8 million compared to $2.0 million at December 29, 2018. The Company also had no revolver debt at each of March 30, 2019 and December 29, 2018.
| Key Operating Metrics | ||||||||||
| Q1 2019 | Q1 2018 | Q4 2018 | ||||||||
| Conversion Rate 1 | 2.60 | % | 2.30 | % | 2.52 | % | ||||
| Customer Acquisition Cost 1 | $ | 7.33 | $ | 7.31 | $ | 7.33 | ||||
| Unique Visitors (millions) 1 | 18.2 | 20.1 | 16.5 | |||||||
| Number of Orders - E-commerce only (thousands) | 466 | 460 | 415 | |||||||
| Number of Orders - Online Marketplace (thousands) | 444 | 441 | 346 | |||||||
| Total Number of Internet Orders (thousands) | 910 | 901 | 761 | |||||||
| Revenue Capture (% Sales) 2 | 87.5 | % | 88.2 | % | 86.7 | % | ||||
| Average Order Value - Total Internet Orders | $ | 82 | $ | 85 | $ | 85 |
| ___________________ | |
| 1. | Excludes online marketplaces and media properties (e.g. AutoMD). |
| 2. | Revenue capture is the amount of actual dollars retained after taking into consideration returns, credit card declines and product fulfillment and excludes online marketplaces and media properties (e.g. AutoMD). |
Conference Call
U.S. Auto Parts will conduct a conference call today at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss its financial results for the first quarter ended March 30, 2019.
The Company's CEO Lev Peker and CFO/COO David Meniane will host the conference call, followed by a question and answer period.
Date: Thursday May 9, 2019
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 877‑407‑9039
International dial-in number: 201‑689‑8470
Conference ID: 13689562
Please call the conference telephone number 5‑10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios at 1‑949‑574‑3860.
The conference call will be broadcast live and available for replay via the investor relations section of the Company's website at www.usautoparts.net.
A telephone replay of the conference call will also be available on the same day through May 23, 2019.
Toll-free replay number: 844‑512‑2921
International replay number: 412‑317‑6671
Replay ID: 13689562
About U.S. Auto Parts Network, Inc.
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. Through the Company's network of websites, U.S. Auto Parts provides consumers with a broad selection of competitively priced products, all mapped by a proprietary database with applications based on vehicle makes, models and years. U.S. Auto Parts' flagship websites include www.autopartswarehouse.com, www.carparts.com, and www.jcwhitney.com, as well as the Company's corporate website at www.usautoparts.net.
U.S. Auto Parts is headquartered in Carson, California.
More inside purchases
http://insiderbuyingselling.com/?t=PRTS
On 2019-06-12 Nia Mehran (10 % Owner) added 10,200 (5.1%) shares at $1.23/share (Purchase) - SEC Form 4https://www.sec.gov/Archives/edgar/data/1378950/000156761919013415/xslF345X03/doc1.xml
http://insiderbuyingselling.com/?t=PRTS
On 2019-06-12 Nia Mehran (10 % Owner) added 10,200 (5.1%) shares at $1.23/share (Purchase) - SEC Form 4https://www.sec.gov/Archives/edgar/data/1378950/000156761919013415/xslF345X03/doc1.xml
US AUTO PARTS – (PRTS) @ $1.26 ==> Last “60” Days => “INSIDERS BUYING” => “12” Insider Purchases -for- 892,000 Shares …. Selling -for- 0.15x times Sales w/ Zero Debt
REFERENCE LINK:
http://bit.ly/2XODU5E
US AUTO PARTS NETWORK – (PRTS)
Price: $1.26 … Up +0.095
Change: +08.15%
Insider Transaction Dates: 05/14/2019 -thru- 06/14/2019
In the past 60 Days ….
Insiders at (PRTS) have made Very Significant => “Open Market“
Insider Purchases in their company’s shares
In “12” separate transactions ….
Buying Back ==> 892,000 / (PRTS) shares -in- The past 60 Days alone
PRTS saw a big spike in trading Volume late last week
Friday’s Trading Volume was 462,721 shares -vs- Average Daily Volume: 107,629 shares
So Friday’s Trading Volume -was- Up +330.00%
Stock Responded by closing Up +8.15% on the Day
TRAILING 12 MONTH SALES: $295 Million
Current Market Cap: $45 Million
DEBT: ( ZERO)
Price to Sales Ratio: 0.15 X Times Sales (TTM)
REFERENCE LINK:
http://bit.ly/2XODU5E
US AUTO PARTS NETWORK – (PRTS)
Price: $1.26 … Up +0.095
Change: +08.15%
Insider Transaction Dates: 05/14/2019 -thru- 06/14/2019
In the past 60 Days ….
Insiders at (PRTS) have made Very Significant => “Open Market“
Insider Purchases in their company’s shares
In “12” separate transactions ….
Buying Back ==> 892,000 / (PRTS) shares -in- The past 60 Days alone
PRTS saw a big spike in trading Volume late last week
Friday’s Trading Volume was 462,721 shares -vs- Average Daily Volume: 107,629 shares
So Friday’s Trading Volume -was- Up +330.00%
Stock Responded by closing Up +8.15% on the Day
TRAILING 12 MONTH SALES: $295 Million
Current Market Cap: $45 Million
DEBT: ( ZERO)
Price to Sales Ratio: 0.15 X Times Sales (TTM)
added some @ 1.05
https://seekingalpha.com/pr/17598858-u-s-auto-parts-reports-second-quarter-2019-results?ifp=0
Second Quarter 2019 Summary vs. Year-Ago Quarter
https://seekingalpha.com/pr/17598858-u-s-auto-parts-reports-second-quarter-2019-results?ifp=0
Second Quarter 2019 Summary vs. Year-Ago Quarter
- Net sales were $73.7 million compared to $77.0 million.
- Gross profit increased 6% to $21.8 million compared to $20.5 million. As a percentage of net sales, gross profit increased 280 basis points to 29.5% compared to 26.7%.
- Net loss was $1.5 million or $(0.04) per share, compared to net loss of $0.8 million or $(0.02) per share.
- Adjusted EBITDA (a non-GAAP measure defined below) was $1.4 million compared to $2.8 million.
- Ended the quarter with no revolver debt.
- Conversion rate increased 30 basis points to 3.0%.
US AUTO PARTS – (PRTS) @ $1.48 ==> ” INSIDER BUYING ” => 10.00% Owner -&- Director… David Kanen “BUYS” 330,000 Shares -for- $440,000 ==> Insiders have now Bought Back “3.20%” of the Company since May
Insider: David Kanen
Position: Director -&- 10.00% Owner
Trade Date: 08-31-2019
Open Market Purchase: 333,000 shares bought @ $1.32
Total Investment: $438,790.00
REFERENCE LINK:
http://bit.ly/2lyEIxO
Insider: David Kanen
Position: Director -&- 10.00% Owner
Trade Date: 08-31-2019
Open Market Purchase: 333,000 shares bought @ $1.32
Total Investment: $438,790.00
REFERENCE LINK:
http://bit.ly/2lyEIxO
US AUTO PARTS - (PRTS) @ $1.48 ==> Begins West Coast Operations at - "NEW" => 124,546 square-foot Distribution Facility -in- LAS VEGAS, NEVADA Nearly $300MM -in- Pure e-commerce Sales company Market Cap is Less than => Their Brand New "Inventory" Value Company is EBITDA Positive, Debt Free -&- Gross Margins were up +6.00% Margins just increased +280 basis points to: 29.50% Insiders have bought nearly 3.50% of PRTS shares In Open Market over past 4 Months (MAP) - REFERENCE LINK: http://bit.ly/2krrClV
US AUTO PARTS – (PRTS) @ $1.69 ==> “INSIDER BUYING” => 10.00%+ Share Holder & Board Member – David Kanen => “BUYS” another +140,000 Shares => Insiders have now bought back 4.00% -of- PRTS shares in Last 4 Months
Insider: David Kanen
Position: Director -&- 10.00% Owner
Filing Date: 09-08-2019
Open Market Purchase: 139,120 shares bought @ $1.44
Total Investment: $200,810.00
REFERENCE LINK:
http://bit.ly/2kvyH50
These most recent Insider purchases … By board member David Kanen
Comes on the heels -of- “21” other separate Insider Purchases
That have taken place in (PRTS) shares… Since May 14, 2019
In Total ..
PRTS insiders have bought 1,463,000 shares in the open market.. In the past 4 Months alone
PRTS has approximately 37 Million fully diluted shares outstanding…
So PRTS Insiders have bought back approximately 4.00% of the Company’s entire shares outstanding since May
REFERENCE LINK:
http://bit.ly/2zgf9FA
WEEKLY CHART
MONTHLY CHART
Insider: David Kanen
Position: Director -&- 10.00% Owner
Filing Date: 09-08-2019
Open Market Purchase: 139,120 shares bought @ $1.44
Total Investment: $200,810.00
REFERENCE LINK:
http://bit.ly/2kvyH50
These most recent Insider purchases … By board member David Kanen
Comes on the heels -of- “21” other separate Insider Purchases
That have taken place in (PRTS) shares… Since May 14, 2019
In Total ..
PRTS insiders have bought 1,463,000 shares in the open market.. In the past 4 Months alone
PRTS has approximately 37 Million fully diluted shares outstanding…
So PRTS Insiders have bought back approximately 4.00% of the Company’s entire shares outstanding since May
REFERENCE LINK:
http://bit.ly/2zgf9FA
WEEKLY CHART
MONTHLY CHART
US AUTO PARTS – (PRTS) @ $1.70 ==> “INSIDER BUYING” => Another Large “BUY” … DAVID KANEN buys 265,000 shares at $1.67 => Insiders have now bought roughly 4.72% -of- PRTS total shares outstanding since May
Insider: David Kanen
Position: Director -&- 10.00% Owner
Filing Date: 09-16-2019
Open Market Purchase: 265,000 shares bought @ $1.67
Total Investment: $441,623.00
REFERENCE LINK:
http://bit.ly/2kVazsB
This most recent Insider purchase …
By 10.00% Holder -&- Board Member: David Kanen
Comes on the heels -of- “25” / Other Insider Purchases
That have taken place in (PRTS) shares… Since May 14, 2019
In Total ..
PRTS insiders have bought approximately 1,750,000 shares in the open market.. In just the past 4 Months alone
With PRTS having 37 Million fully diluted shares outstanding…
This means PRTS Insiders have bought back approximately 4.72% of the Company’s entire shares outstanding
In the Open Market => Since May of 2019
Quite a Vote of Confidence !
REFERENCE LINK:
http://bit.ly/2zgf9FA
WEEKLY CHART
MONTHLY CHART
Insider: David Kanen
Position: Director -&- 10.00% Owner
Filing Date: 09-16-2019
Open Market Purchase: 265,000 shares bought @ $1.67
Total Investment: $441,623.00
REFERENCE LINK:
http://bit.ly/2kVazsB
This most recent Insider purchase …
By 10.00% Holder -&- Board Member: David Kanen
Comes on the heels -of- “25” / Other Insider Purchases
That have taken place in (PRTS) shares… Since May 14, 2019
In Total ..
PRTS insiders have bought approximately 1,750,000 shares in the open market.. In just the past 4 Months alone
With PRTS having 37 Million fully diluted shares outstanding…
This means PRTS Insiders have bought back approximately 4.72% of the Company’s entire shares outstanding
In the Open Market => Since May of 2019
Quite a Vote of Confidence !
REFERENCE LINK:
http://bit.ly/2zgf9FA
WEEKLY CHART
MONTHLY CHART
US AUTO PARTS – (PRTS) @ $1.55 ==> (VIDEO) ==> HOW IT WORKS … PRTS new “On Demand Box Technology” – An Absolute Game Changer => Dramatically Reduces Costs -&- Increases Speed / Efficiency
(VIDEO) – REFERENCE LINK:
http://bit.ly/2o3vPh4
PRTS new “On Demand Box Technology” – For e-Commerce Fulfillment
Today special handling for large item packing areas at e-commerce fulfillment centers try to accommodate numerous SKUs / Items at one time…
Taking a “One Size Fits All” approach
But these facilities are often using tools and packing materials that were never designed for the size and shape of such large items.
To avoid damage during shipment, fulfillment often uses a make-shift corrugated boxes with added fillers, shrink wrap, packing peanuts and banding
or strapping to support a box that does not properly fit the contents needed to be shipped.
PRTS new “Box-on-Demand Technology” allows the company to now increase their number of box SKUs available…
And importantly create right-sized boxes for every single order at a consistent price.
The “Right-Sized Boxes” are made on demand…
Mitigating excess shipping charges, reducing void fill, and increasing the number of shipments per / truck load.
The technology fully integrates with PRTS existing order management systems and is extremely easy to use… With its flexible software platform.
For multiple item orders.. The “Cartonization Software” determines the optimal box size and takes the guess work out of optimal box selection
directly at the packing station.
PRTS new “Box On Demand Technology” system will Accomplish the Following:
1) Reduce shipping costs by eliminating excess dimensional weight and void fill usage
2) Increase the number of box SKUs available, with custom sizes and box design specific to a unique product mix
3) Seamlessly sync box making to existing order management or WMS systems
4) Support picking methods that fit your packing process – (pick to box, pick to tote, pick to cart, etc.)
5) Produce the right size box for return, repack, overpack and overwrap applications
6) Optimize box size for multiple item orders at a pack station
(VIDEO) – REFERENCE LINK:
http://bit.ly/2o3vPh4
PRTS new “On Demand Box Technology” – For e-Commerce Fulfillment
Today special handling for large item packing areas at e-commerce fulfillment centers try to accommodate numerous SKUs / Items at one time…
Taking a “One Size Fits All” approach
But these facilities are often using tools and packing materials that were never designed for the size and shape of such large items.
To avoid damage during shipment, fulfillment often uses a make-shift corrugated boxes with added fillers, shrink wrap, packing peanuts and banding
or strapping to support a box that does not properly fit the contents needed to be shipped.
PRTS new “Box-on-Demand Technology” allows the company to now increase their number of box SKUs available…
And importantly create right-sized boxes for every single order at a consistent price.
The “Right-Sized Boxes” are made on demand…
Mitigating excess shipping charges, reducing void fill, and increasing the number of shipments per / truck load.
The technology fully integrates with PRTS existing order management systems and is extremely easy to use… With its flexible software platform.
For multiple item orders.. The “Cartonization Software” determines the optimal box size and takes the guess work out of optimal box selection
directly at the packing station.
PRTS new “Box On Demand Technology” system will Accomplish the Following:
1) Reduce shipping costs by eliminating excess dimensional weight and void fill usage
2) Increase the number of box SKUs available, with custom sizes and box design specific to a unique product mix
3) Seamlessly sync box making to existing order management or WMS systems
4) Support picking methods that fit your packing process – (pick to box, pick to tote, pick to cart, etc.)
5) Produce the right size box for return, repack, overpack and overwrap applications
6) Optimize box size for multiple item orders at a pack station
US AUTO PARTS – (PRTS) @ $1.55 ==> “CFO” – VIDEO INTERVIEW w/ “LAS VEGAS REVIEW JOURNAL” ==> CARPARTS.com – Opens New Las Vegas Distribution Hub -to- Cut Shipping Times
(VIDEO) – REFERENCE LINK:
http://bit.ly/2nXyysq
September 28, 2019 – 7:20 pm
Las Vegas Distribution Hub to Help CarParts.com Cut Shipping Times
By: Subrina Hudson / Las Vegas ***************
Electric forklifts zipped back and forth Friday afternoon amid racks filled with thousands of auto parts inside the new Las Vegas distribution
facility for CarParts.com.
CarParts.com, the e-commerce website for Carson, California-based firm U.S. Auto Parts, is still settling into its new home, but in the past 3 months,
it’s filled the warehouse with roughly 7,500 different products, hired 100 employees from the Las Vegas area and filled 9,600 orders last week.
David Meniane, U.S. Auto Parts’ chief financial officer and chief operating officer, said the company initially considered a facility in Southern California,
especially because its overseas shipments come into the Port of Long Beach.
“Vegas made a lot more sense,” Meniane said. “Logistically, it’s not the best but in terms of the workforce and the skills, there’s a lot of talent for
distribution and logistics. There’s experience for each function so it was pretty obvious for us that Las Vegas was the right choice.”
CarParts.com is the latest company to choose Southern Nevada for a distribution center, joining firms such as Smith’s Food and Drug Stores and Amazon.com,
which recently signed a deal to occupy a more than 600,000-square-foot industrial building in Henderson.
Eye On Expansion
The Las Vegas facility, which opened in July at 2821 Marion Drive, is the third distribution center for U.S. Auto Parts.
Other centers are located in LaSalle, Illinois and Chesapeake, Virginia.
Founded in 1995, the company has about 1,300 employees and includes the websites: CarParts.com.. AutoPartsWarehouse.com -&- JCWhitney.com
and its namesake corporate site.
However, there are future plans to create one flagship site.
CEO Lev Peker said during last month’s earnings call that “without going into too much detail, our goal is to make CarParts.com our flagship site.”
In recent months, the company has focused on optimizing the website, including making it faster with speeds below three seconds and easier for customers
to search and purchase products.
Meniane said shoppers are largely “DIY” customers with some who order parts online and take it to a local collision or repair shop.
Only about 10.00% percent of its business is wholesale, according to Meniane.
The company is further developing its Las Vegas distribution center, which is filled with half the amount of inventory eventually planned for the space.
It will invest about $13 million to $15 million in the facility that houses its top sellers such as bumper covers, door handles and side mirrors, Meniane said.
Two weeks ago, the company installed a “box-on-demand machine” allowing it to efficiently package large items such as its bumpers.
An employee would scan the size of the item and the machine spits out a custom-sized box that is then packaged in a proprietary way to reduce shipping costs
for customers, he said.
He said the new facility gives CarParts.com a chance to cut shipping times for customers on the West Coast.
“If you get into an accident, you want to replace parts really quickly,” Meniane said.
“So, the closer we are to the customer… The faster we can ship.”
“The goal was to cover 94.00% percent of the country in 2 days or less and 26.00% percent of the country in one day or less.”
(VIDEO) – REFERENCE LINK:
http://bit.ly/2nXyysq
September 28, 2019 – 7:20 pm
Las Vegas Distribution Hub to Help CarParts.com Cut Shipping Times
By: Subrina Hudson / Las Vegas ***************
Electric forklifts zipped back and forth Friday afternoon amid racks filled with thousands of auto parts inside the new Las Vegas distribution
facility for CarParts.com.
CarParts.com, the e-commerce website for Carson, California-based firm U.S. Auto Parts, is still settling into its new home, but in the past 3 months,
it’s filled the warehouse with roughly 7,500 different products, hired 100 employees from the Las Vegas area and filled 9,600 orders last week.
David Meniane, U.S. Auto Parts’ chief financial officer and chief operating officer, said the company initially considered a facility in Southern California,
especially because its overseas shipments come into the Port of Long Beach.
“Vegas made a lot more sense,” Meniane said. “Logistically, it’s not the best but in terms of the workforce and the skills, there’s a lot of talent for
distribution and logistics. There’s experience for each function so it was pretty obvious for us that Las Vegas was the right choice.”
CarParts.com is the latest company to choose Southern Nevada for a distribution center, joining firms such as Smith’s Food and Drug Stores and Amazon.com,
which recently signed a deal to occupy a more than 600,000-square-foot industrial building in Henderson.
Eye On Expansion
The Las Vegas facility, which opened in July at 2821 Marion Drive, is the third distribution center for U.S. Auto Parts.
Other centers are located in LaSalle, Illinois and Chesapeake, Virginia.
Founded in 1995, the company has about 1,300 employees and includes the websites: CarParts.com.. AutoPartsWarehouse.com -&- JCWhitney.com
and its namesake corporate site.
However, there are future plans to create one flagship site.
CEO Lev Peker said during last month’s earnings call that “without going into too much detail, our goal is to make CarParts.com our flagship site.”
In recent months, the company has focused on optimizing the website, including making it faster with speeds below three seconds and easier for customers
to search and purchase products.
Meniane said shoppers are largely “DIY” customers with some who order parts online and take it to a local collision or repair shop.
Only about 10.00% percent of its business is wholesale, according to Meniane.
The company is further developing its Las Vegas distribution center, which is filled with half the amount of inventory eventually planned for the space.
It will invest about $13 million to $15 million in the facility that houses its top sellers such as bumper covers, door handles and side mirrors, Meniane said.
Two weeks ago, the company installed a “box-on-demand machine” allowing it to efficiently package large items such as its bumpers.
An employee would scan the size of the item and the machine spits out a custom-sized box that is then packaged in a proprietary way to reduce shipping costs
for customers, he said.
He said the new facility gives CarParts.com a chance to cut shipping times for customers on the West Coast.
“If you get into an accident, you want to replace parts really quickly,” Meniane said.
“So, the closer we are to the customer… The faster we can ship.”
“The goal was to cover 94.00% percent of the country in 2 days or less and 26.00% percent of the country in one day or less.”
CARSON, Calif., Oct. 4, 2019 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, today announced the appointment ofJim Barnesto its Board of Directors.
U.S. Auto Parts logo (PRNewsfoto/U.S. Auto Parts Network, Inc.)
More
Mr. Barnes currently serves as the CEO of enVista, LLC, a supply chain and unified commerce consulting firm, where he has served since he co-founded enVista in 2002. Prior to founding enVista, he was the Executive Vice President and co-founder of Q4 Logistics. He has spent the last 25 years deploying supply chain and enterprise solutions and synchronizing material and information flow for Fortune 500 brands and retail companies.
Mr. Barnes holds a B.S. degree in Mechanical Engineering Technology fromPurdue University. "We are extremely pleased to have Jim join us," said Lev Peker, the Company's CEO. "Jim's extensive logistics and operational expertise positions him well to make valuable contributions to U.S. Auto Parts and our Board of Directors."
Mr. Barnes commented: "U.S. Auto Parts is well positioned to grow its business providing affordable aftermarket auto parts to consumers all over the U.S. I look forward to helping fuel that growth and collaborating with the rest of the board and management team."
About U.S. Auto Parts
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. https://finance.yahoo.com/quote/prts?ltr=1
U.S. Auto Parts logo (PRNewsfoto/U.S. Auto Parts Network, Inc.)
More
Mr. Barnes currently serves as the CEO of enVista, LLC, a supply chain and unified commerce consulting firm, where he has served since he co-founded enVista in 2002. Prior to founding enVista, he was the Executive Vice President and co-founder of Q4 Logistics. He has spent the last 25 years deploying supply chain and enterprise solutions and synchronizing material and information flow for Fortune 500 brands and retail companies.
Mr. Barnes holds a B.S. degree in Mechanical Engineering Technology fromPurdue University. "We are extremely pleased to have Jim join us," said Lev Peker, the Company's CEO. "Jim's extensive logistics and operational expertise positions him well to make valuable contributions to U.S. Auto Parts and our Board of Directors."
Mr. Barnes commented: "U.S. Auto Parts is well positioned to grow its business providing affordable aftermarket auto parts to consumers all over the U.S. I look forward to helping fuel that growth and collaborating with the rest of the board and management team."
About U.S. Auto Parts
Established in 1995, U.S. Auto Parts is a leading online provider of automotive aftermarket parts, including collision, engine, and performance parts and accessories. https://finance.yahoo.com/quote/prts?ltr=1
E-Commerce Automotive Market Is The Next Big Thing And The US Auto Parts Network Is The Player To Pay Attention On
Benzinga , Benzinga Staff Writer
October 28, 2019 12:57 pm 6 min read
The global e-commerce automotive market is forecasted to grow with the highest CAGR from 2020 to 2029, according to a latest industry study by Market.us. And one of the market's key players, U.S. Auto Parts Network, Inc. Common Stock (NASDAQ: PRTS) U.S. Auto Parts Network, Inc. is expected to report earnings for its third quarter that ended on September 30th on November 1 after the market closes.
U.S. Auto Parts Network Inc that was established in 1995, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories primarily in the United States and the Philippines. It offers a range of exterior and interior automotive parts and accessories to individual consumers through its large network of online marketplaces.
News That Influenced the Quarter
One of the largest online providers of aftermarket automotive parts and accessories has announced an appointment of Jim Barnes to its Board of Directors. Barnes is currently a CEO enVista, LLC, a supply chain and unified commerce consulting firm that he co-founded in 2002. Mr Barnes feels that the company is well equipped and positioned to grow its business by providing U.S. consumers with affordable auto parts. He seems as the perfect fit for the company to go forward and fuel that growth as the company has been facing a drop in its revenues.
For this quarter's earnings, analysts expect the company to deliver a year-over-year decline. When we look at the last four quarters, they only managed to beat analyst expectations once, with the remainder being surprise-free. But even that's better news than missing estimates. And many stocks can still lose ground even after exceeding estimates due to other qualitative factors influencing the investor's sentiment. So let's try to figure out what those catalysts might be.
Prior Results
Through the first quarter, the company reported that 91% of its revenue comes from e-commerce and online marketplace with the remaining being offline or wholesale. When it comes to product portfolio, 57% of products are from the collision parts line, 31% of engine parts, and 11% is represented by performance and accessories. As for the latest annual filing, net sales were $289.5M with adjusted EBITDA $10.4M.
Previous Quarter Earnings
The specialty auto parts retailer reported ($0.04) earnings per share for the quarter, successfully meeting the Thomson Reuters' estimate. U.S. Auto Parts Network did have a negative return on equity of 23.48% with a negative net margin of 3.21%. But the company had revenue of $73.69 million during the quarter with analyst estimates of $74.66 million.
Analyst Expectations
The down-trending stock of U.S. Auto Parts Network, Inc. has declined 15.11% since October 25, 2018. It has underperformed S&P500 by 15.11%. But, it crossed above its 200-day moving average during trading on October 14th as the stock's 200-day moving average of $1.21 was exceeded by shares trading as high as $1.55.
On average, analysts expect U.S. Auto Parts Network, Inc. to report $-0.03 EPS on November, 1 with $0 EPS for the current as well as the following fiscal year. Some anticipate $0.04 EPS change or 400.00% from last quarter's $0.01 EPS. After having $-0.04 EPS previously, U.S. Auto Parts Network, Inc.'s analysts see -25.00% EPS growth. The stock decreased 1.24% or $0.02 during the last trading session, reaching $1.59.
There's the "surprise" potential which underlines the whole industry.
Back on August 17th, after its prior quarter earnings were released, Zacks Investment Research upgraded their shares from a "hold" to a "buy" rating, by setting a $1.25 price target. So together with the unexpected growth of the e-commerce auto-parts industry, this industry peer is able to pull out a few surprises. One week ago, Lamp News reported that institutional sentiment increased to 0.86 in Q2 2019. Its ratio improved by 0.65 as it was 0.21 in the first quarter of 2019 fiscal year.
Competitors
One of its main competitors, Autozone Inc (NYSE: AZO) rose 2.77% on October 24 post its earnings report. What's more impressive that its up-trending stock has risen 60.79% since October 27, 2018. But focusing more on e-commerce and speaking of the giant itself, Amazon.com, Inc. (NASDAQ: AMZN) was just heavily beaten by Microsoft in getting the US$10 bn cloud deal so its throne is surely shaken up.
A giant of another kind, the Chinese Alibaba Group (NYSE: BABA) is now a strong buy as its earnings report is on the horizon. But, the US-China trade dispute continues to loom over the stock. Although its fate might not be entirely tied to this scenario but we have to wait for October 31 to see if they can manage to beat estimates like they did last quarter. Yet, if shares fall short of estimates, there could be a significant material decline that would be a clear indicator that the trade war is influencing the business. We still have to wait to see the impact of the weakening economy and intensifying trade disputes, but one thing is clear: U.S. Auto Parts Network operates in a highly competitive environment.
Outlook
Even Amazon made losses several years after its listing, but all those who bought and held the shares from the company's beginnings ended up making a fortune. And this is the reason why investors are often drawn to ‘seemingly' unprofitable companies. The main concern for U.S. Auto Parts Network is the possible cash burn scenario which would bring the company to a distressful position. So the question that analysts want answered is can this company afford to keep investing in its growth? But, on the bright side, the company was debt free in June this year with its balance sheet showing US$890k in cash.
Its balance of cash reserves and cash burns did alter significantly through the years but the company did have a positive cash flow last year. Unfortunately, its revenues are down sliding this year as they declined 5.1%. The good news is that it would be easy for the company to fund a year of growth by either taking out a loan or issuing new shares. So, if they can work on their offerings to enhance their sales, there are many reassuring factors to support its way forward- hopefully to growth. https://quotes.benzinga.com/article/14674278
Benzinga , Benzinga Staff Writer
October 28, 2019 12:57 pm 6 min read
U.S. Auto Parts Network Inc that was established in 1995, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories primarily in the United States and the Philippines. It offers a range of exterior and interior automotive parts and accessories to individual consumers through its large network of online marketplaces.
News That Influenced the Quarter
One of the largest online providers of aftermarket automotive parts and accessories has announced an appointment of Jim Barnes to its Board of Directors. Barnes is currently a CEO enVista, LLC, a supply chain and unified commerce consulting firm that he co-founded in 2002. Mr Barnes feels that the company is well equipped and positioned to grow its business by providing U.S. consumers with affordable auto parts. He seems as the perfect fit for the company to go forward and fuel that growth as the company has been facing a drop in its revenues.
For this quarter's earnings, analysts expect the company to deliver a year-over-year decline. When we look at the last four quarters, they only managed to beat analyst expectations once, with the remainder being surprise-free. But even that's better news than missing estimates. And many stocks can still lose ground even after exceeding estimates due to other qualitative factors influencing the investor's sentiment. So let's try to figure out what those catalysts might be.
Prior Results
Through the first quarter, the company reported that 91% of its revenue comes from e-commerce and online marketplace with the remaining being offline or wholesale. When it comes to product portfolio, 57% of products are from the collision parts line, 31% of engine parts, and 11% is represented by performance and accessories. As for the latest annual filing, net sales were $289.5M with adjusted EBITDA $10.4M.
Previous Quarter Earnings
The specialty auto parts retailer reported ($0.04) earnings per share for the quarter, successfully meeting the Thomson Reuters' estimate. U.S. Auto Parts Network did have a negative return on equity of 23.48% with a negative net margin of 3.21%. But the company had revenue of $73.69 million during the quarter with analyst estimates of $74.66 million.
Analyst Expectations
The down-trending stock of U.S. Auto Parts Network, Inc. has declined 15.11% since October 25, 2018. It has underperformed S&P500 by 15.11%. But, it crossed above its 200-day moving average during trading on October 14th as the stock's 200-day moving average of $1.21 was exceeded by shares trading as high as $1.55.
On average, analysts expect U.S. Auto Parts Network, Inc. to report $-0.03 EPS on November, 1 with $0 EPS for the current as well as the following fiscal year. Some anticipate $0.04 EPS change or 400.00% from last quarter's $0.01 EPS. After having $-0.04 EPS previously, U.S. Auto Parts Network, Inc.'s analysts see -25.00% EPS growth. The stock decreased 1.24% or $0.02 during the last trading session, reaching $1.59.
There's the "surprise" potential which underlines the whole industry.
Back on August 17th, after its prior quarter earnings were released, Zacks Investment Research upgraded their shares from a "hold" to a "buy" rating, by setting a $1.25 price target. So together with the unexpected growth of the e-commerce auto-parts industry, this industry peer is able to pull out a few surprises. One week ago, Lamp News reported that institutional sentiment increased to 0.86 in Q2 2019. Its ratio improved by 0.65 as it was 0.21 in the first quarter of 2019 fiscal year.
Competitors
One of its main competitors, Autozone Inc (NYSE: AZO) rose 2.77% on October 24 post its earnings report. What's more impressive that its up-trending stock has risen 60.79% since October 27, 2018. But focusing more on e-commerce and speaking of the giant itself, Amazon.com, Inc. (NASDAQ: AMZN) was just heavily beaten by Microsoft in getting the US$10 bn cloud deal so its throne is surely shaken up.
A giant of another kind, the Chinese Alibaba Group (NYSE: BABA) is now a strong buy as its earnings report is on the horizon. But, the US-China trade dispute continues to loom over the stock. Although its fate might not be entirely tied to this scenario but we have to wait for October 31 to see if they can manage to beat estimates like they did last quarter. Yet, if shares fall short of estimates, there could be a significant material decline that would be a clear indicator that the trade war is influencing the business. We still have to wait to see the impact of the weakening economy and intensifying trade disputes, but one thing is clear: U.S. Auto Parts Network operates in a highly competitive environment.
Outlook
Even Amazon made losses several years after its listing, but all those who bought and held the shares from the company's beginnings ended up making a fortune. And this is the reason why investors are often drawn to ‘seemingly' unprofitable companies. The main concern for U.S. Auto Parts Network is the possible cash burn scenario which would bring the company to a distressful position. So the question that analysts want answered is can this company afford to keep investing in its growth? But, on the bright side, the company was debt free in June this year with its balance sheet showing US$890k in cash.
Its balance of cash reserves and cash burns did alter significantly through the years but the company did have a positive cash flow last year. Unfortunately, its revenues are down sliding this year as they declined 5.1%. The good news is that it would be easy for the company to fund a year of growth by either taking out a loan or issuing new shares. So, if they can work on their offerings to enhance their sales, there are many reassuring factors to support its way forward- hopefully to growth. https://quotes.benzinga.com/article/14674278
U.S. Auto Parts Reports Third Quarter 2019 Results
PR Newswire•November 1, 2019
PR Newswire•November 1, 2019
Renewed Focus on Private Label Sales Drives Strongest Quarter of Gross Margin Since Q3 2016
Conversion Increases to 3.2%, Highest in the Company's History
CARSON, Calif., Nov. 1, 2019 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, is reporting results for the third quarter ended September 28, 2019.
U.S. Auto Parts logo (PRNewsfoto/U.S. Auto Parts Network, Inc.)
More
Third Quarter 2019 Summary vs. Year-Ago Quarter
"Last quarter, we introduced a new operating plan that is centered on three key pillars: the right part, the right time, and the right place. Each of these pillars represents an important aspect of the customer experience as we need to ensure that our customers order the right part for their vehicle, deliver it quickly, and be agnostic to how the customer wants to install their auto parts.
"We have also renewed our focus on improving gross margins and profitability, which will be accomplished in-part by increasing the revenue mix of our highest margin products—private label—and better utilizing our resources to grow and optimize our three core websites.
"During the third quarter, we began to realize the early benefits of executing this new operating plan, highlighted by our second consecutive quarter of gross margin expansion, as well as our second consecutive quarter of positive adjusted EBITDA. This was also our strongest quarter of private label sales growth in nearly two years, which tells us that our strategy is working. Further, our new 125,000 square foot distribution center went live in Las Vegas in early August, and we have already shipped more than 80,000 auto parts in less than 3 months.
"The momentum in our business is evident. Key metrics are trending in the right direction, our cash flow cycle is healthy and we remain debt-free. There is still plenty of work ahead to further improve our inventory optimization, cost structure and core websites. But everywhere we look, we see opportunity, and our team remains committed to delivering positive adjusted EBITDA this year and carrying this strong momentum into 2020," said Lev Peker, CEO of U.S. Auto Parts.
Third Quarter 2019 Financial Results
Net sales in the third quarter of 2019 were $69.3 million compared to $69.5 million in the year-ago quarter. The decline was largely driven by a reduction in branded sales and offline sales mostly offset by a 15% increase in higher margin private label sales. Our online sales were up 2% and our offline sales declined 17% due to a change in pricing strategy and exiting unprofitable businesses.
Gross profit in the third quarter of 2019 increased 15% to $21.1 million compared to $18.4 million in the year-ago quarter. As a percentage of net sales, gross profit increased 400 basis points to 30.5% compared to 26.5%. Excluding detention and demurrage related costs from both quarters, gross margin for the quarter would be 31.3% compared to 28.9% last year. The increase was primarily driven by a greater proportion of higher margin private label sales and improved pricing strategies.
Total operating expenses in the third quarter were $22.6 million compared to $19.6 million in the third quarter of last year. As a percentage of net sales, operating expenses increased to 32.6% compared to 28.3% in the year ago quarter with the increase primarily driven by increased marketing spend and investments in marketing platforms and new employees.
Net loss in the third quarter was $1.4 million, or $(0.04) per share, compared to a net loss of $0.2 million or $(0.01) per share in the year-ago period.
Adjusted EBITDA in the third quarter of 2019 was $1.3 million compared to $2.6 million in the year-ago quarter.
At September 28, 2019, cash and cash equivalents totaled $1.1 million compared to $2.0 million at December 29, 2018. The decrease in cash is primarily a result of employee transition costs, technology capital expenditures, marketing, and setup costs for the company's new distribution center in Las Vegas, Nevada. U.S. Auto Parts also had no revolver debt at each of September 28, 2019 and December 29, 2018.
Conference Call
U.S. Auto Parts CEO Lev Peker and CFO/COO David Meniane will host the conference call, followed by a question and answer period.
Date: Friday, November 1, 2019
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 877‑407‑9039
International dial-in number: 201‑689‑8470
Conference ID: 13694403
Please call the conference telephone number 5‑10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 1‑949‑574‑3860.
The conference call will be broadcast live and available for replay via the investor relations section of the Company's website at www.usautoparts.com.
A telephone replay of the conference call will also be available on the same day through November 15, 2019.
Toll-free replay number: 844‑512‑2921
International replay number: 412‑317‑6671
Replay ID: 13694403
Conversion Increases to 3.2%, Highest in the Company's History
CARSON, Calif., Nov. 1, 2019 /PRNewswire/ -- U.S. Auto Parts Network, Inc. (PRTS), one of the largest online providers of aftermarket automotive parts and accessories, is reporting results for the third quarter ended September 28, 2019.
U.S. Auto Parts logo (PRNewsfoto/U.S. Auto Parts Network, Inc.)
More
Third Quarter 2019 Summary vs. Year-Ago Quarter
- Gross profit increased 15% to $21.1 million compared to $18.4 million. As a percentage of net sales, gross profit increased 400 basis points to 30.5% compared to 26.5%.
- Net sales were $69.3 million compared to $69.5 million.
- Online sales increased 2% while offline sales declined 17%.
- Net loss was $1.4 million or $(0.04) per share, compared to net loss of $0.2 million or $(0.01) per share.
- Adjusted EBITDA (a non-GAAP measure defined below) was $1.3 million compared to $2.6 million.
- Ended the quarter with no revolver debt.
- Conversion rate increased 50 basis points to 3.2%.
"Last quarter, we introduced a new operating plan that is centered on three key pillars: the right part, the right time, and the right place. Each of these pillars represents an important aspect of the customer experience as we need to ensure that our customers order the right part for their vehicle, deliver it quickly, and be agnostic to how the customer wants to install their auto parts.
"We have also renewed our focus on improving gross margins and profitability, which will be accomplished in-part by increasing the revenue mix of our highest margin products—private label—and better utilizing our resources to grow and optimize our three core websites.
"During the third quarter, we began to realize the early benefits of executing this new operating plan, highlighted by our second consecutive quarter of gross margin expansion, as well as our second consecutive quarter of positive adjusted EBITDA. This was also our strongest quarter of private label sales growth in nearly two years, which tells us that our strategy is working. Further, our new 125,000 square foot distribution center went live in Las Vegas in early August, and we have already shipped more than 80,000 auto parts in less than 3 months.
"The momentum in our business is evident. Key metrics are trending in the right direction, our cash flow cycle is healthy and we remain debt-free. There is still plenty of work ahead to further improve our inventory optimization, cost structure and core websites. But everywhere we look, we see opportunity, and our team remains committed to delivering positive adjusted EBITDA this year and carrying this strong momentum into 2020," said Lev Peker, CEO of U.S. Auto Parts.
Third Quarter 2019 Financial Results
Net sales in the third quarter of 2019 were $69.3 million compared to $69.5 million in the year-ago quarter. The decline was largely driven by a reduction in branded sales and offline sales mostly offset by a 15% increase in higher margin private label sales. Our online sales were up 2% and our offline sales declined 17% due to a change in pricing strategy and exiting unprofitable businesses.
Gross profit in the third quarter of 2019 increased 15% to $21.1 million compared to $18.4 million in the year-ago quarter. As a percentage of net sales, gross profit increased 400 basis points to 30.5% compared to 26.5%. Excluding detention and demurrage related costs from both quarters, gross margin for the quarter would be 31.3% compared to 28.9% last year. The increase was primarily driven by a greater proportion of higher margin private label sales and improved pricing strategies.
Total operating expenses in the third quarter were $22.6 million compared to $19.6 million in the third quarter of last year. As a percentage of net sales, operating expenses increased to 32.6% compared to 28.3% in the year ago quarter with the increase primarily driven by increased marketing spend and investments in marketing platforms and new employees.
Net loss in the third quarter was $1.4 million, or $(0.04) per share, compared to a net loss of $0.2 million or $(0.01) per share in the year-ago period.
Adjusted EBITDA in the third quarter of 2019 was $1.3 million compared to $2.6 million in the year-ago quarter.
At September 28, 2019, cash and cash equivalents totaled $1.1 million compared to $2.0 million at December 29, 2018. The decrease in cash is primarily a result of employee transition costs, technology capital expenditures, marketing, and setup costs for the company's new distribution center in Las Vegas, Nevada. U.S. Auto Parts also had no revolver debt at each of September 28, 2019 and December 29, 2018.
| Key Operating Metrics | ||||||||||
| Q3 2019 | Q3 2018 | Q2 2019 | ||||||||
| Conversion Rate 1 | 3.2 | % | 2.7 | % | 3.0 | % | ||||
| Unique Visitors (millions) 1 | 13.8 | 16.4 | 14.2 | |||||||
| Number of Orders - E-commerce only (thousands) | 441 | 443 | 423 | |||||||
| Number of Orders - Online Marketplace (thousands) | 412 | 372 | 463 | |||||||
| Total Number of Internet Orders (thousands) | 853 | 815 | 886 | |||||||
| Revenue Capture (% Sales) 2 | 89.3 | % | 87.5 | % | 87.8 | % | ||||
| Average Order Value - Total Internet Orders | $ | 78 | $ | 85 | $ | 80 |
| _________________________ | |
| 1. | Excludes online marketplaces. |
| 2. | Revenue capture is the amount of actual dollars retained after taking into consideration returns, credit card declines and product fulfillment and excludes online marketplaces. |
Conference Call
U.S. Auto Parts CEO Lev Peker and CFO/COO David Meniane will host the conference call, followed by a question and answer period.
Date: Friday, November 1, 2019
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 877‑407‑9039
International dial-in number: 201‑689‑8470
Conference ID: 13694403
Please call the conference telephone number 5‑10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 1‑949‑574‑3860.
The conference call will be broadcast live and available for replay via the investor relations section of the Company's website at www.usautoparts.com.
A telephone replay of the conference call will also be available on the same day through November 15, 2019.
Toll-free replay number: 844‑512‑2921
International replay number: 412‑317‑6671
Replay ID: 13694403
