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Advance Auto Parts Reports Third Quarter Fiscal 2012 Sales and EPS Performance; Updates Annual EPS Outlook

  Advance Auto Parts Reports Third Quarter Fiscal 2012 Sales and EPS
  Performance; Updates Annual EPS Outlook

Business Wire

ROANOKE, Va. -- October 22, 2012

Advance Auto Parts, Inc. (NYSE: AAP), a leading retailer of automotive
aftermarket parts, accessories, batteries, and maintenance items, today
announced its third quarter earnings per diluted share (EPS) are anticipated
to be $1.21, a decrease of 14.2% versus the third quarter last year of $1.41.

The decline in EPS was driven by a decrease in total sales for the third
quarter of approximately 0.5% to $1.46 billion, as compared with total sales
during the third quarter of fiscal 2011. The sales decrease reflected a
comparable store sales decrease of approximately 1.8%, partially offset by the
net addition of 82 new stores during the past 12 months. Additionally, the
decrease in the Company’s EPS was driven by increased promotions, higher
spending on in-store labor and advertising in an effort to drive consumer
traffic and maintain market share in the softer consumer environment, and
expense deleverage as a result of the lower sales volume.

The Company anticipates that its operating performance will continue to be
constrained for the balance of the year driven by continued softness in its
colder weather markets, lower overall consumer spending on maintenance and
failure parts and continued investments in the Company’s strategic initiatives
primarily focused on growing its Commercial sales. The Company does not
anticipate any changes to its previously shared annual outlook for SG&A per
store to decrease 1% to 2% and its previously shared annual outlook for the
Company’s gross profit rate to improve modestly for the year. As a result, the
Company now anticipates its full year EPS outlook for fiscal 2012 will be in
the range of $5.05 to $5.15.

“Our efforts to invest in the continued long-term growth of Commercial and
increase customer traffic helped drive improvements in our comp store sales
from the second quarter to the third quarter of this year and strengthened our
positive Commercial comps for Advance stores through the quarter. Despite
these improved sales trends, we were still unable to achieve our profitability
expectations and fully mitigate the weak consumer demand within several of our
markets, especially in our colder weather markets,” said Darren R. Jackson,
President and Chief Executive Officer. “As we look beyond our current quarter,
we believe the industry fundamentals remain positive and that we are well
positioned with our initiatives to fuel our future growth. These initiatives
include the successful launch of our Advance Commercial Credit program, our
new distribution center in Remington, IN, our recent expansion into New York
City and our continued momentum from our B2B online ordering capability, hub
investments and inventory upgrades.”

Earnings Release and Investor Conference Call

The financial results contained in this release are preliminary, and
therefore, subject to the Company's completion of its customary quarterly
closing and review procedures. Further details will be released during the
Company's previously scheduled earnings release and conference call.

The Company will report its third quarter financial results before market open
on Thursday, November 8, 2012. The Company will host a conference call
scheduled to begin at 10:00 a.m. Eastern Time on Thursday, November 8, 2012,
which will be made available concurrently on the Company’s website,
www.AdvanceAutoParts.com. The call is also available by dialing (866)
908-1AAP. The pass code is Advance Auto Parts. A replay of the conference call
will available on the Advance website for one year.

About Advance Auto Parts

Headquartered in Roanoke, Va., Advance Auto Parts, Inc., a leading automotive
aftermarket retailer of parts, accessories, batteries, and maintenance items
in the United States, serves both the do-it-yourself and professional
installer markets. As of October6, 2012, the Company operated 3,727 stores in
39 states, Puerto Rico, and the Virgin Islands. Additional information about
the Company, employment opportunities, customer services, and online shopping
for parts, accessories and other offerings can be found on the Company's
website at www.AdvanceAutoParts.com.

Certain statements contained in this release are forward-looking statements,
as that statement is used in the Private Securities Litigation Reform Act of
1995. Forward-looking statements address future events or developments, and
typically use words such as believe, anticipate, expect, intend, plan,
forecast, outlook or estimate. These statements discuss, among other things,
expected growth and future performance, including store growth, capital
expenditures, comparable store sales, SG&A, operating income, gross profit
rate, free cash flow, profitability and earnings per diluted share for fiscal
year 2012. These forward-looking statements are subject to risks,
uncertainties and assumptions including, but not limited to, competitive
pressures, demand for the Company's products, the market for auto parts, the
economy in general, inflation, consumer debt levels, the weather, business
interruptions, information technology security, availability of suitable real
estate, dependence on foreign suppliers and other factors disclosed in the
Company's 10-K for the fiscal year ended December 31, 2011 on file with the
Securities and Exchange Commission. Actual results may differ materially from
anticipated results described in these forward-looking statements. The Company
intends these forward-looking statements to speak only as of the time of this
news release and does not undertake to update or revise them as more
information becomes available.

Contact:

Advance Auto Parts
Media Contact
Shelly Whitaker, APR
t: 540-561-8452
e: shelly.whitaker@advanceautoparts.com
or
Investor Contact
Joshua Moore
t: 952-715-5076
e: joshua.moore@advanceautoparts.com