Advance Auto Parts 2009 Annual Report Download - page 5

Download and view the complete annual report

Please find page 5 of the 2009 Advance Auto Parts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 112

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112

In 2009, we continued to make progress on our turnaround which began in 2008. Our focus has been on
driving sustainable profit growth for our Team Members and stockholders through a relentless focus on
living and teaching our Advance values – to inspire and build the self-confidence and success of every
Team Member, to serve our customers better than anyone else while helping them succeed, and
to grow the business and profitability with
integrity. Our values form the found ation
of how we do business and serve as the
basis of the measurement and reward
system for our entire team. Our values
have been, and will continue to be, the
foundation for guiding our Company.
We remain focused on meeting our
customers’ needs and executing
our four key strategies.
Commercial Acceleration – Serving commercial customers better than anyone else through
superior delive ry times, order accuracy and parts availability.
DIY Transformation – Serving do-it-yourself customers better than anyone else by
providing products, services and support tailored to local market needs.
Availability Excellence – Delivering the right parts to the right place at the right
time – every time.
Superior Experience – Consistently providing “Legendary Customer Service”
through a relentless focus on execution.
In 2009, we moved into the final stages of our turnaround, principally focused
on Commercial Acceleration and Availability Excellence to accelerate our
growth and profitability. Our eight consecutive quarters of double-digit
Commercial comparable store sales growth in our Advance stores
along with our 149 basis-point improvement in comparable gross
profit rate are clear signs of progress. We have reignited our values,
pointed the Company toward our greatest assets – our customers and
Team Members, by overhauling our pay and performance systems,
driving more consistency across our business and developing
capabilities to accelerate growth.
The turnaround required us to come to grips with both capability
and performance gaps, which led us to aggressively pursue the
development of our new e-commerce platform for DIY and
3
In 2009, Advance was recognized as
the #1 corporate JDRF partner. This is
a prestigious honor that has only been held
by one other company since JDRF’s inception.
Our Team Members, customers and vendor
partners raised an astoni shing $3.8 million
in 2009! Working together can truly make
an impact on the lives of other people.
— continued on page 4