Advance Auto Parts 2013 Annual Report Download - page 39

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26
Selling, General and Administrative Expenses
SG&A expenses consist of store payroll, store occupancy (including rent and depreciation), advertising expenses,
acquisition and integration related expenses, Commercial delivery expenses, other store expenses and general and
administrative expenses, including salaries and related benefits of store support center Team Members, share-based
compensation expenses, store support center administrative office expenses, data processing, professional expenses, self-
insurance costs, closed store expense, impairment charges and acquisition-related and integration costs, if any, and other related
expenses. See Note 2, Summary of Significant Accounting Policies, to our Consolidated Financial Statements for additional
discussion of these costs.
Consolidated Results of Operations
The following table sets forth certain of our operating data expressed as a percentage of net sales for the periods indicated.
Fiscal Year Ended
December 28,
2013
December 29,
2012
December 31,
2011
Net sales 100.0% 100.0% 100.0%
Cost of sales, including purchasing and
warehousing costs 49.9 50.1 50.3
Gross profit 50.1 49.9 49.7
Selling, general and administrative expenses 39.9 39.3 39.0
Operating income 10.2 10.6 10.8
Interest expense (0.6)(0.5)(0.5)
Other, net 0.0 0.0 0.0
Provision for income taxes 3.6 3.8 3.9
Net income 6.0% 6.2% 6.4%
Fiscal 2013 Compared to Fiscal 2012
Net Sales
Net sales for Fiscal 2013 were $6,493.8 million, an increase of $288.8 million, or 4.7%, over net sales for Fiscal 2012. This
growth was primarily due to sales from the acquired BWP stores and sales from the new AAP and AI stores opened during
Fiscal 2013 partially offset by a 1.5% decrease in comparable store sales.
AAP segment sales were $6,171.3 million, an increase of $256.4 million, or 4.3%, over Fiscal 2012. This growth was
primarily a result of sales from the acquired BWP stores and sales from the net addition of 152 new stores opened during Fiscal
2013 partially offset by a comparable store sales decrease of 1.7%. The comparable store sales decrease was driven by a
decrease in transaction count partially offset by an increase in transaction value, which is reflective of higher priced products
sold and a higher mix of Commercial sales. AI segment sales were $337.2 million, an increase of $31.1 million, or 10.2%, over
Fiscal 2012.
2013 2012
AAP AI Total AAP AI Total
Comparable Store Sales % (1.7)% 0.9% (1.5)% (0.9)% 0.8% (0.8)%
Net Stores Added (excluding BWP
stores) 152 (1) 151 116 16 132