Advance Auto Parts 2014 Annual Report Download - page 27

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20
Fiscal Year (1)
2014 2013 2012 2011 2010
(in thousands, except per share data, store data and ratios)
Selected Store Data and Performance
Measures:
Comparable store sales growth (9) 2.0% (1.5%) (0.8%) 2.2% 8.0%
Number of stores at beginning of year 4,049 3,794 3,662 3,563 3,420
New stores (10) 1,487 296 137 104 148
Closed stores (11) (164) (41) (5) (5) (5)
Number of stores, end of period 5,372 4,049 3,794 3,662 3,563
Stores with commercial delivery program, end of
period 4,981 3,702 3,484 3,326 3,212
Total Commercial sales, as a percentage of total
sales 57.0% 40.4% 38.1% 37.0% 34.2%
Total store square footage, end of period (in 000s) 43,338 29,701 27,806 26,663 25,950
(1) Our fiscal year consists of 52 or 53 weeks ending on the Saturday nearest to December 31st. All fiscal years presented are
52 weeks, with the exception of 2014, which consisted of 53 weeks. The impact of week 53 included in sales, gross profit
and selling, general and administrative expenses was $150,386, $67,780 and $46,720, respectively.
(2) Selling, general and administrative expenses include the impact of GPI integration costs of $73,192 and amortization of GPI
intangibles of $42,696 for 2014 and acquisition costs associated with our acquisition of GPI on January 2, 2014 of $24,983
for 2013. It also includes integration costs associated with our integration of BWP of $9,042 and $8,004 for 2014 and 2013,
respectively.
(3) Interest expense includes the impact of acquisition costs associated with our acquisition of GPI on January 2, 2014 of $1,987
for 2013.
(4) Inventory turnover is calculated as cost of sales divided by the average of beginning and ending inventories. For 2014 the
ratio was calculated using an average of ending inventories over the last five quarters to adjust for the impact of the acquisition
of GPI and its inventories on January 2, 1014.
(5) Inventory per store is calculated as ending inventory divided by ending store and branch count. Our branches have a larger
footprint than our stores.
(6) Accounts payable to inventory ratio is calculated as ending accounts payable divided by ending inventory. Financed vendor
accounts payable separately presented on the balance sheet in 2010 was included with accounts payable to calculate our
accounts payable to inventory ratio.
(7) Net working capital is calculated by subtracting current liabilities from current assets.
(8) Net debt includes total debt less cash and cash equivalents.
(9) Comparable store sales include net sales from our stores and e-commerce website. The change in store sales is calculated
based on the change in net sales starting once a store has been open for 13 complete accounting periods (each period
represents four weeks). Relocations are included in comparable store sales from the original date of opening. Acquired
stores are included in our comparable store sales once the stores have completed 13 complete accounting periods
following the acquisition date (approximately one year). Comparable store sales growth for 2014 excludes sales from the
53rd week.
(10) Includes 1,336 stores and branches resulting from our acquisition of GPI during 2014 and 124 stores resulting from our
acquisition of BWP during 2013.
(11) The number of store closures in 2014 includes planned consolidations of 145 stores and in 2013 includes the planned
consolidations of 20 stores.
(1)