Prts ,

brucefan · Jan 6, 2021

[h=1]CarParts.com Named 2020’s Fastest-Growing Auto Parts Site in the Automotive Aftermarket by SimilarWeb[/h]
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CarParts.com Named 2020’s Fastest-Growing Auto Parts Site in the Automotive Aftermarket by SimilarWeb (Photo: Business Wire)

January 06, 2021 09:50 AM Eastern Standard Time
TORRANCE, Calif.--(BUSINESS WIRE)--Website analytics firm SimilarWeb has named CarParts.com, Inc. (NASDAQ: PRTS) ("CarParts.com") the Fastest-Growing Auto Parts Site of 2020, demonstrating how the tech-forward company is quickly becoming the go-to choice for drivers who need the right parts fast, to get their vehicles back on the road.
Website traffic to CarParts.com grew 194% percent YOY according to SimilarWeb. This growth rate was substantially higher than key competitors in the automotive aftermarket, including both pure play ecommerce companies and brick-and-mortar retailers with online shopping platforms.
According to SimilarWeb, while CarParts.com was the fastest growing site of 2020, in addition it surpassed four of its competitors, NAPA Auto Parts, Auto Anything, Parts Geek and 1A Auto, in overall site visitors.
The distinction is yet another success resulting from the company’s aggressive turnaround journey that started two years ago. The strategy was driven by a customer-first approach, significant investments in technology, and marketing and supply chain improvements that created exceptional growth across the business and transformed the way consumers shop for auto parts.
“It’s exciting to see the hard work of the entire CarParts.com organization pay off. From day one we have been laser focused on modernizing the auto parts shopping experience, making it simple and affordable for drivers to keep their vehicle running. This is just one of the reasons we are experiencing website traffic growth that far surpasses the competition,” said Houman Akhavan, Chief Marketing Officer of CarParts.com. “Our efforts are resonating with drivers. We are optimistic our growth will continue, as our business initiatives align with shifts in consumer behavior. They are moving from Do It for Me to DIY, shifting from offline to online commerce, and America now has the oldest car fleet the nation has ever seen. Our journey is ongoing, and we look forward to head into 2021 with a growing community of drivers.”
For more information about CarParts.com, visit CarParts.com. For more information about SimilarWeb’s rankings, visit https://www.similarweb.com/corp/blog/fastest-growing-auto-parts-websites/.
About CarParts.com
With over 25 years of experience, and more than 50 million parts delivered, we’ve streamlined our website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, we’ve created an easy-to-use, mobile-friendly shopping experience that, alongside our own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.
CarParts.com is headquartered in Torrance, California.

[h=2]Contacts[/h]Media:
Sasha Trosman
strosman@carparts.com
Investors:
Ryan Lockwood
ir@carparts.com

[/FONT]

brucefan · Jan 19, 2021

Auto Care Week Names CarParts.com the Top Company For Year-Over-Year Net Sales Growth in Q3 2020 | Business Wire

brucefan · Jan 26, 2021

[h=1]CarParts.com Launches First Electric Vehicle & Hybrid Focused Shopping Hub[/h]
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carparts.com/ev (Graphic: Business Wire)

January 26, 2021 09:00 AM Eastern Standard Time
TORRANCE, Calif.--(BUSINESS WIRE)--CarParts.com, Inc. (NASDAQ: PRTS) ("CarParts.com") this week launched a new dedicated shopping hub for the hybrid, plug-in hybrid, and electric vehicle (EV) community. The ecommerce retailer is transforming the way drivers shop for auto parts, so naturally, building an online store for EVs and hybrids is the next big investment in the company’s growth and commitment to getting drivers back on the road.

“There is a lot of misinformation out there surrounding the perceived differences in parts and repairs for electric cars compared to gas vehicles”
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In recent months, CarParts.com’s product offering for EVs and hybrids has grown to include over 700,000 applications for the repair, maintenance, and enhancement of hybrids, plug-in hybrids, and EVs. Aftermarket parts are available for over 25 popular vehicle makes, including Tesla, Toyota, Honda, GMC, BMW, Ford, Lexus, Chevrolet, and more.
“There is a lot of misinformation out there surrounding the perceived differences in parts and repairs for electric cars compared to gas vehicles,” said CarParts.com Chief Merchandising Officer David Morris. “But in reality, hybrids and EVs have many of the same fundamental parts that gas-powered cars do–from brakes, headlights, and mirrors to fenders, control arms, and shocks or struts. Our dedicated shopping hub will help demystify the world of EV and hybrid auto parts, making it simple for customers to find the parts and information they need to get the job done.”
The shopping interface for EV and hybrid replacement parts leans into the customer-focused experience used across CarParts.com’s entire sales platform, featuring search by both part and vehicle make. The hub will also feature the latest news, guides, blog content, and maintenance insight for hybrid, plug-in hybrid, and electric vehicles.
“As EVs and hybrid vehicles age, consumers are more likely to buy aftermarket parts. Drivers are still in the adoption phase, but we are now seeing a growing number of green vehicles hitting our sweet spot of 6 to 15 years old. Over time, we've seen the number of EVs on the road grow and thus the need for more replacement parts, and we will continue to make investments in our technology, supply chain, and customer experience to create the number one online destination for the EV community with the information, tools, and parts they need to get back on the road. The EV wave is here to stay, and CarParts.com is here to be a part of it,” said CarParts.com Chief Executive Officer Lev Peker.
Visit CarParts.com’s shopping experience for hybrid, plug-In hybrid, and electric vehicle owners at CarParts.com/EV.
About CarParts.com
With over 25 years of experience, and more than 50 million parts delivered, we’ve streamlined our website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, we’ve created an easy-to-use, mobile-friendly shopping experience that, alongside our own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.
CarParts.com is headquartered in Torrance, California.

[h=2]Contacts[/h]Media:
Sasha Trosman
strosman@carparts.com
Investors:
Ryan Lockwood
ir@carparts.com

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CoachCB · Jan 28, 2021

This is rock solid, Bruce!!

brucefan · Jan 28, 2021

[h=1]CarParts.com: Completely Misunderstood By Short Sellers - Significant Upside Ahead[/h]Jan. 28, 2021 11:52 AM ETCarParts.com, Inc. (PRTS)AAP AZO ORLY1 Comment
[h=3]Summary[/h]

PRTS is expanding into the "hard parts" category which has a TAM 5x+ the size of its existing collision business - this will drive continued significant revenue growth.
Nearly 45% of shares are sold short - presumably by those that don't understand the enormous next leg(s) of growth for PRTS - which will drive massive upside.
PRTS will take meaningful market share from incumbent brick-and-mortar auto parts retailers.
CarParts.com launches first electric vehicle EV focused shopping hub.

Major change has occurred at CarParts.com (NASDAQ:PRTS) over the last 2.5 years. The founder of the company Mehran Nia has returned, the former rising star in the company Lev Peker is now the CEO, the board has been refreshed. Carparts.com has consolidated 17 websites to 1, they have ditched low margin commoditized branded products in favor of higher margin private label which often saves customers 40%, the user experience has improved significantly, conversion is much higher, etc.
PRTS is positioned to disrupt B&M auto part retailers. The Majority of the country will be able to receive auto parts in 2 days or less, effectively "erasing" B&M retailers incumbent advantage. With recently added DC's in Vegas and Dallas now ~94% of country can be delivered to in one to two days. In order to meet demand, the company will continue to add DCs and only strengthen its advantages over the incumbent brick-and-mortar auto parts retailers.
Incumbent B&M auto retailers will cede market share to carparts.com which is just starting to launch a very robust (tens of thousands of SKUs) hard parts offering where the TAM is 5x+ that of its existing collision business! With nearly 9 out of 10 parts that customers walk in to buy at O'Reilly (ORLY)/ AutoZone (AZO) / Advanced Auto Parts (AAP) coming with a 1-2 day wait - the customer experience is vastly superior at carparts.com, AND carparts.com has made a huge shift to private label where the majority of products are 40% cheaper than the legacy B&M retailers. When PRTS adds tens of thousands of new hard parts SKUs that are on average 40% cheaper than incumbent legacy retailers, will customers continue to walk into O'Reilly/AutoZone/Advanced Auto Parts just to have to walk back out and wait 2 days for a product?

Carparts.com is launching hard parts as we speak; including shocks, struts, brakes, etc. The hard parts category has 5x+ the TAM of the collision business and represents a $300B annual market that has <5% online penetration. These products will be higher margin primarily due to meaningfully lower shipping costs from the smaller nature of the packages. Dave Morris, formerly of Icahn Automotive is the new Chief Merchandise Officer and is spearheading this huge growth opportunity.
In the spring, PRTS plans to launch brakes, a consumable which could/should bring in $250M in annual revenue alone. PRTS is very adept at collecting data and will know when you need new brakes and will be right there selling to you. PRTS will leverage its data, and with its hard parts/brakes (consumables) offering create a very sticky customer base where revenue is highly recurring.
These are bullish datapoints and tremendous opportunities PRTS has been working on that the shorts don't understand. Once they do the work and realize revenue growth rates will be faster than Wayfair, Chewy, Carvana, ORLY etc - and PRTS is in a market with a multi hundred billion dollar TAM, PRTS will rerate to a peer multiple. Chewy trades at 6.5x EV/sales, Wayfair trades at 2.3x EV/sales, Carvana trades at 4.1x EV/sales, O Reilly trades at 3.3x EV/sales. While PRTS trades at ~1x 2022 sales.
PRTS has a proven management team with a great growth strategy that is really just getting started.
B&M auto parts retail sales are still $50B, it is an industry that is being threatened by PRTS which will continue to take share. As CEO Lev Peker said on the Q3 2020 earnings call - " The auto parts industry lags other verticals and online penetration by a wide margin. We're still in low single digits compared to other categories that are closer to 30% online penetration. We believe the shift to e-commerce will continue its acceleration as customers experience expanded selection, fast shipping and lower prices."
CarParts.com Launches First Electric Vehicle & Hybrid Focused Shopping Hub
In recent months, CarParts.com's product offering for EVs and hybrids has grown to include over 700,000 applications for the repair, maintenance, and enhancement of hybrids, plug-in hybrids, and EVs. Aftermarket parts are available for over 25 popular vehicle makes, including Tesla, Toyota ( TM), Honda, GMC, BMW, Ford, Lexus, Chevrolet, and more.
With PRTS's significant distribution and massive SKU/distribution expansion the company also has potential to be a key supplier in the "do it for me" (DIFM) market - which is a $60B annual market in the US.
Carparts.com is misunderstood, PRTS will execute on these growth opportunities and drive a rerating to a valuation closer to the bottom end of the range of its peers, or 3x 2022 sales, PRTS would be a $60+ stock.

Disclosure: I am/we are long PRTS. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

brucefan · Feb 8, 2021

[h=1]CarParts.com’s Grand Prairie, Texas Distribution Center Gears Up for 2021[/h]

State of the Art, 210,000 Square Foot FacilityHires 200th Person, Ships 100,000th Package

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(Photo: Business Wire)

February 08, 2021 09:00 AM Eastern Standard Time
GRAND PRAIRIE, Texas--(BUSINESS WIRE)--CarParts.com, Inc. (NASDAQ: PRTS) ("CarParts.com") announced today that its 210,000 square foot distribution center in Grand Prairie, Texas is now shipping and has hired its 200th person to help meet customer demand. The facility, which features the latest warehouse technology, has already shipped over 100,000 packages spanning across gas, hybrid, and electric vehicles, ramping up for a busy 2021.

“We are incredibly proud and grateful for the intelligence, talent, and hard work of our team at the Grand Prairie distribution center”
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The distribution center, which only began operations in Q4, 2020, was able to stock up quickly on fast moving inventory and is continuing to receive inbound containers weekly thanks to its employees’ relentless commitment to operational efficiency. CarParts.com also invested in the company’s capabilities by hiring 12 veterans, whose objective-oriented approach has enabled faster, smoother operations.
“We’re thrilled that CarParts.com decided to become part of the Texas business community,” said Texas Land Commissioner George P. Bush. “The company is growing and has found that Texas has a terrific business climate to support that growth. We appreciate all the jobs and economic activity that CarParts.com is bringing to our state, and we expect that number to grow. As a veteran myself, I am particularly pleased that CarParts.com has recognized that veterans are a tremendous asset to any growing business and has prioritized hiring them.”
As America’s car fleet is the oldest in its history and the last year has seen wide ecommerce adoption, demand for CarParts.com’s products will continue to be high. That will make continued operational efficiency at the distribution center critical, and the CarParts.com team is committed to providing the resources it needs to be successful.
CarParts.com is also proud of its partnership with Grand Prairie and how it has become part of the community. “The economic downturn has hurt Grand Prairie, just as it has hurt Texas and, indeed, all of America,” said Grand Prairie Mayor Ron Jensen. “CarParts.com has brought Grand Prairie needed jobs and economic opportunity and has proven to be an excellent partner for our city and its people. We know they will be a partner long into the future.”
The distribution center has been critical to CarParts.com’s ability to ensure its customers can get the right part to the right place as quickly as possible – CarParts.com understands that waiting for the right part is not an option in a country where 85% of people still drive to work.
“We are incredibly proud and grateful for the intelligence, talent, and hard work of our team at the Grand Prairie distribution center,” said CarParts.com’s Chief Operating Officer and Chief Financial Officer David Meniane. “They have done exceptional work to get the facility stocked up and prepared to meet tremendous demand quickly. With the recent launch of our shopping hub for the EV community (www.carparts.com/ev), the distribution center will remain an essential player, carrying aftermarket auto parts for gas, electric, and hybrid vehicles, and supporting our mission to serve drivers quickly and effectively for years to come.”
About CarParts.com
With over 25 years of experience, and more than 50 million parts delivered, we’ve streamlined our website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, we’ve created an easy-to-use, mobile-friendly shopping experience that, alongside our own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.
CarParts.com is headquartered in Torrance, California.

[h=2]Contacts[/h]Media:
Sasha Trosman
strosman@carparts.com
Investors:
Ryan Lockwood
ir@carparts.com

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MattyMatt · Feb 8, 2021

This thing is smoking...

Really love them supporting the PFL...

I really could’ve retired if I’d thrown what I did on PRED on PRTS instead. Still made some good coin I guess, but it didn’t come close to canceling it out...

Continued success...

brucefan · Feb 17, 2021

MattyMatt said:
This thing is smoking...

Really love them supporting the PFL...

I really could’ve retired if I’d thrown what I did on PRED on PRTS instead. Still made some good coin I guess, but it didn’t come close to canceling it out...

Continued success...

Glad you recovered some anyway. Yes PRED right now is ugly, and gonna take time. I hope you own some RAFA , double digits this year

MattyMatt · Feb 17, 2021

brucefan said:
Glad you recovered some anyway. Yes PRED right now is ugly, and gonna take time. I hope you own some RAFA , double digits this year

I do have a little bit of RAFA. Thanks for that recommendation as well. Maybe I should add a little more when I can?...

brucefan · Feb 19, 2021

MattyMatt said:
I do have a little bit of RAFA. Thanks for that recommendation as well. Maybe I should add a little more when I can?...

Yes

brucefan · Feb 19, 2021

[h=1]CarParts.com Returns as Major Partner with Front Row Motorsports[/h]

Company Continues Partnership with Daytona 500 Champion Michael McDowell

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(Photo: Business Wire)

February 19, 2021 11:35 AM Eastern Standard Time
MOORESVILLE, N.C.--(BUSINESS WIRE)--The celebration of Michael McDowell’s Daytona 500 win continues today with CarParts.com (NASDAQ: PRTS) announcing their continued partnership with McDowell and Front Row Motorsports (FRM). CarParts.com now becomes an integral part of the team and McDowell’s 2021 season, including full season associate branding and primary partner sponsorship at four races.

“The story of Michael McDowell winning the Daytona 500 mirrors CarParts.com’s story”
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CarParts.com will be the primary scheme on the No. 34 Ford Mustang beginning at the Watkins Glen road course on August 8 and followed by the Indianapolis Motor Speedway on August 25, the return of McDowell to the Daytona International Speedway on August 28, and the NASCAR Playoff race at the Las Vegas Motor Speedway on September 26.
CarParts.com offers an easy-to-navigate, mobile-friendly shopping platform, connecting drivers with the parts they need to get from point A to point B with confidence. The company has delivered over 50 million parts across America and now count the 2021 Daytona 500 champion as a loyal customer. Last year, CarParts.com and McDowell partnered to make updates to his Ford F-150 with various parts through a video install series, including a tonneau cover, exhaust system, and brakes.
“The story of Michael McDowell winning the Daytona 500 mirrors CarParts.com’s story,” said Houman Akhavan, Chief Marketing Officer of CarParts.com. “Both of us were building a really strong foundation under the radar. Both of us were building great teams. He was building a great car, and we were building a great company. Then, one day, everyone who had overlooked both of us realized that we were a force to be reckoned with.”
Last season, CarParts.com partnered with FRM and McDowell on various promotions, sweepstakes, contests, and other activities to get more involved in the sport and spark engagement with NASCAR fans. One event in particular—when McDowell and Darrell “Bubba” Wallace, Jr. made contact on the track during the All-Star race—led to a cascade of charitable contributions after CarParts.com bid on the bumper involved, including donations of $20,034 to Motor Racing Outreach in McDowell’s name, another $20,043 to Victory Junction in Wallace’s name, and finally the bumper itself to a NASCAR fan. Both CarParts.com and FRM are excited to find more ways to connect with fans during the 2021 season.
“It’s great to have CarParts.com back with us in such a big way,” said McDowell. “We always knew they were with us, part of the family and supporting us. Now we can do something even bigger and better as we start our season. We have all year to spread the word about CarParts.com to NASCAR fans. I’ve used their site and it’s easy. They have every part you need. It’s just awesome to see this come together and I can’t wait to see what they have planned for us.”
For more information about CarParts.com, visit CarParts.com.
About Front Row Motorsports
Front Row Motorsports (FRM) is a winning organization in the NASCAR Cup and Camping World Truck Series and the 2021 Daytona 500 champions. The team was founded in 2004 and is owned by successful entrepreneur, Bob Jenkins. FRM fields the No. 34 and the No. 38 NASCAR Cup Series teams along with the No. 38 NASCAR Camping World Truck Series team– from its Mooresville, N.C. headquarters. Visit teamfrm.com and follow FRM on social media: Twitter at @Team_FRM, Instagram at @team_frm and Facebook at facebook.com/FrontRowMotorsports.
About CarParts.com
With over 25 years of experience, and more than 50 million parts delivered, we’ve streamlined our website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, we’ve created an easy-to-use, mobile-friendly shopping experience that, alongside our own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.
CarParts.com (NASDAQ: PRTS) is headquartered in Torrance, California.

[h=2]Contacts[/h]Front Row Motorsports Contact:
Mac MacLeod
Manager, Public Relations
Mobile: 704-860-1154
E-Mail: mmacleod@frontrowmotorsports.com
CarParts.com Contact:
Sasha Trosman
Director, Marketing & Communications
E-Mail: strosman@carparts.com

[/FONT]

brucefan · Mar 8, 2021

CarParts.com Reports Record Fourth Quarter and Full Year 2020 Results

Record Q4 Sales of $119.7 million, up 90%
Record Fiscal Year Sales of $443.9 million, up 58%

NEWS PROVIDED BY
CarParts.com, Inc. Mar 08, 2021, 16:01 ET

TORRANCE, Calif., March 8, 2021 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), one of the leading e-commerce providers of automotive parts and accessories, is reporting results for the fourth quarter and fiscal year ended January 2, 2021.
Fourth Quarter 2020 Summary vs. Year-Ago Quarter

Net sales increased 90% year over year to $119.7 million (includes one extra week).

Gross profit increased 97% to $41.6 million, with gross margin up 110 basis points to 34.8%.

Net loss was ($3.5) million or ($0.07) per share, compared to a net loss of ($25.1) million or ($0.70) per share. Q4 2019 net loss included a ($23.0) million non-cash deferred tax valuation allowance.

Adjusted EBITDA decreased to $1.0 million vs. $1.7 million in the year ago quarter. The decline was partially due to approximately $1 million in additional expenses associated with the opening of our Texas Distribution Center ("DC") as well as increased receiving across the network.

Fiscal Year 2020 Summary vs. 2019

Net sales increased 58% year over year to $443.9 million (includes one extra week).

Gross profit increased 84% to $155.4 million, with gross margin up 500 basis points to 35.0%.

Net loss was ($1.5) million or ($0.04) per share, compared to a net loss of ($31.5) million or ($0.89) per share. 2019 net loss included a ($23.0) million non-cash deferred tax valuation allowance.

Adjusted EBITDA was $16.0 million vs. $4.5 million.

Management Commentary
"The significant investments we made in 2019 laid the foundation for the success we experienced in 2020." said Lev Peker, CEO of CarParts.com. "Our strategy of Right Part, Right Place, Right Time is helping us transform and disrupt an industry with a superior value proposition that keeps our customers at the center of everything we do."
"While we are very proud of our work over the last 2 years and the improvements we have made, we still believe that there is significant market opportunity ahead of us. Our plan is to continue to get closer to the customer, provide an expanding selection of both mechanical and EV/Hybrid replacement parts, and help customers get parts installed with increased convenience and transparency."
"We're laser focused on providing a fast and convenient shopping experience that builds trust, brand awareness and drives repeat purchasing. CarParts.com continues to demonstrate strong forward momentum and our team is executing well on multiple strategic objectives."
Fourth Quarter 2020 Financial Results
Net sales in the fourth quarter of 2020 were $119.7 million compared to $63.0 million in the year-ago quarter. The growth in sales was primarily driven by increased revenue growth from our flagship website, CarParts.com.
Gross profit in the fourth quarter increased 97% to $41.6 million compared to $21.2 million last year, with gross margin up 110 bps to 34.8% compared to 33.7%. These improvements were driven by strong growth in house brands sales, favorable channel and product mix, partially offset by higher inbound and outbound freight costs and seasonal surcharges from our carriers.  
Total operating expenses in the fourth quarter were $44.9 million compared to $23.3 million in the fourth quarter last year. The increase was driven by personnel costs related to the new Texas DC, technology spend, & marketing spend.
Net loss in the fourth quarter decreased to ($3.5) million compared to ($25.1) million in the fourth quarter last year. The loss for 2020 was primarily driven by startup expenses incurred to open the Texas DC without the benefit of offsetting revenues while the prior year loss was primarily driven by a non-cash valuation allowance charge of ($23.0) million related to our deferred tax assets.
Adjusted EBITDA in the fourth quarter decreased to $1.0 million compared to $1.7 million in the year-ago quarter, with the decrease driven primarily by the aforementioned increase in expenses related to opening a new DC as well as increased receiving across the network.
At fiscal year-end January 2, 2021, the company had no revolver debt, no outstanding trade letters of credit ("LCs") and a cash balance of $35.8 million, compared to no debt, $17.3 million of outstanding trade LCs and a $2.3 million cash balance at December 28, 2019.
Conference Call
CarParts.com CEO Lev Peker and CFO/COO David Meniane will host a conference call today, followed by a question and answer period.
Date: Monday, March 8, 2021
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Webcast: www.carparts.com/investor/news-events
To listen to the live call, please click the link above to access the webcast at least 5-10 minutes prior to the start time to register your name and organization. The audio webcast will be archived on the Company's website at www.carparts.com/investor.
If you are unable to join via the webcast, you may dial in to the call at 833-649-1138 (domestic) or 918-922-3112 (international) using access code 6047338. A telephone replay will also be available on the same day through March 22, 2021 at 855-859-2056 (domestic) or 404-537-3406 (international) using access code 6047338.
A copy of an investor presentation for the 2020 fiscal year will also be made available on the investor relations section of the Company's website at www.carparts.com/investor.
About CarParts.com, Inc.
For over 20 years, CarParts.com has been a leader in the e-commerce automotive aftermarket, providing collision, engine, and performance parts and accessories. With over 50 million parts delivered, we've helped everyday drivers across the continental United States find the right parts to keep their vehicles on the road.
With a focus on the end-to-end customer experience, we've designed our website and sourcing network to simplify the way drivers get the parts they need. Our vehicle selector and easy-to-navigate, mobile-friendly website offers customers guaranteed fitment and a convenient online shopping experience. And with our own wide distribution network, we bring the very best brands and manufacturers directly to consumer hands, cutting out all the brick-and-mortar supply chain costs to provide quality parts at a discount for our loyal customers. Combined with our 90-day return policy and satisfaction guarantee, CarParts.com makes it simple for customers to get parts delivered straight to their door.
CarParts.com is headquartered in Torrance, California.

brucefan · Mar 29, 2021

PRTS pullback to a strong support zone, good place to add imo

[h=1]CarParts.com Signs Definitive Agreement to Acquire Precise Fuel Pumps from Premium Guard[/h]
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(Photo: Business Wire)

March 29, 2021 09:00 AM Eastern Daylight Time
TORRANCE, Calif.--(BUSINESS WIRE)--CarParts.com, Inc. (NASDAQ: PRTS), a leading e-commerce auto parts company, today announced it has entered into a definitive asset purchase agreement to acquire all Precise Fuel Delivery Systems (“Precise”) inventory from Premium Guard, a leading global automotive aftermarket supplier. With this acquisition, CarParts.com and Precise will help more drivers get back on the road quickly.

“This asset acquisition is a logical step in our mission of ‘Right Part, Right Time, Right Place,’”
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“This asset acquisition is a logical step in our mission of ‘Right Part, Right Time, Right Place,’” said Lev Peker, Chief Executive Officer of CarParts.com. “By acquiring Precise’s inventory and data, we are unifying their supply with our existing fuel delivery and storage products, expanding our supplier base and SKU assortment. Combine this access with our economies of scale and 2-step distribution model, and we can drive additional value for the consumer and continue to make CarParts.com the most trusted and convenient website to buy auto parts online.”
The transaction will accelerate CarParts.com’s growth in the $300 billion auto parts market and significantly expand its mechanical parts offerings. Premium Guard’s current Precise fuel delivery system assets will be absorbed and added to CarParts.com’s existing premium fuel pump brand, “DriveMotive,” increasing the online retailer’s vehicle application coverage by more than 50%.
“CarParts.com is the ideal home for Precise products. Both of our brands are committed to a customer-centric model that helps consumers to solve their problems with high-quality products, at reasonable prices,” said Anan Bishara, Chief Executive Officer of Premium Guard. “But the natural fit isn’t the only benefit. CarParts.com offers strong liquidity and the ability to close quickly and with certainty, enabling a seamless transition for our customer commitments until the very end.”
CarParts.com will acquire all Precise fuel delivery system inventory for cash. The transaction is expected to close during CarParts.com’s first quarter of fiscal year 2021.
Terms of the acquisition were not disclosed and the financial impact to CarParts.com is not material.
About CarParts.com
With over 25 years of experience, and more than 50 million parts delivered, we’ve streamlined our website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, we’ve created an easy-to-use, mobile-friendly shopping experience that, alongside our own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.
CarParts.com (NASDAQ: PRTS) is headquartered in Torrance, California.

[h=2]Contacts[/h]Media:
Sasha Trosman
strosman@carparts.com
Investors:
Ryan Lockwood, CFA
ir@carparts.com

[/FONT]

brucefan · Apr 7, 2021

[h=1]Henry Maier, President & CEO of FedEx Ground, Joins CarParts.com Board[/h]Tue April 6, 2021 4:51 PM|PR Newswire|About: PRTS
TORRANCE, Calif., April 6, 2021 /PRNewswire/ -- CarParts.com (PRTS), (NASDAQ: PRTS) a leading e-commerce auto parts company dedicated to getting drivers back on the road, today announces that it has appointed Henry Maier to its board of directors. Maier is a 35-year veteran of FedEx Corporation, where he currently serves as president and CEO of the FedEx Ground operating unit.

At CarParts.com, Maier will bring his logistics and supply chain expertise to bear and support the company's continued disruption of the aftermarket parts industry. He joined FedEx in 1986 and has held a number of strategic roles; since 2013, he has been responsible for overseeing the second largest parcel carrier in the U.S. with 650 facilities.
"The last twelve months have accelerated consumer online shopping behaviors by several years. E-commerce companies with efficient supply chains are now regularly surpassing legacy retailers across every vertical," said Henry Maier, president & CEO of FedEx Ground. "Early in their tenure, Lev and his executive team invested in their supply chain to create a competitive advantage; that foresight is why CarParts.com is so highly scalable today."
"Since 2019, we've focused on restoring the company's fundamentals and turning it into an organization we'd be proud to own ourselves. We've embraced a right part, right time, right place mentality that has guided our growth and demanded an expanding supply chain," said Lev Peker, chief executive officer of CarParts.com. "With Henry's expertise, we're poised to maximize the potential of our 2-step distribution model and take the company to its next level."
Maier's appointment fills one of two board vacancies created by the retirement of co-founders Sol Khazani and Mehran Nia.
"Both Sol and I are incredibly proud of the company we founded 26 years ago. The last two years of recovery and exponential growth have given us the confidence to finally step back and fully hand over the reins to Lev and his team. With ample cash and no debt, we feel great about the financial stability of the company," said Mehran Nia, co-founder of CarParts.com. "We believe in CarParts.com's mission to be the number one trusted destination for customers thinking about repair and maintenance with the parts, tools, and information they need to get back on the road; there's no doubt in our minds that the company is on track to do just that."
Peker added, "Since I joined CarParts.com, Mehran and Sol have been an invaluable resource, sharing guidance and mentorship that helped put us in a position to grow and scale like never before. The entire CarParts.com team thanks them for their years of dedication to the company."
About CarParts.com
With over 25 years of experience, and more than 50 million parts delivered, we've streamlined our website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, we've created an easy-to-use, mobile-friendly shopping experience that, alongside our own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.
CarParts.com (NASDAQ: PRTS) is headquartered in Torrance, California.
Media:
Ben Wilsker
617-650-9901
CarPartsPR@5wpr.com
Investors:
Ryan Lockwood
IR@CarParts.com

brucefan · May 10, 2021

CarParts.com Reports Record First Quarter 2021 Results (prnewswire.com)
First Quarter 2021 Summary vs. Year-Ago Quarter

Net sales increased 65% year over year to $144.8 million.
Gross profit increased 65% to $49.2 million, with gross margin up 10 basis points to 34.0%.
Net loss was ($2.7) million or ($0.06) per share, compared to a net loss of ($1.0) million or ($0.03) per share.
Adjusted EBITDA decreased to $3.6 million vs. $4.3 million in the year ago quarter. The decrease was driven primarily by the continued ramp up of our Texas Distribution Center ("DC"), adverse weather, and target investments in brand awareness campaigns that did not exist in the prior year quarter.
In active discussions to expand the Texas DC by 156,220 square feet, which would bring the total DC network square footage to over 1 million square feet.