Advance Auto Parts Reaffirms FY19 Sales Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Tuesday, Advance Auto Parts Inc. (AAP) reaffirmed its net sales guidance for the full-year 2019, while trimming comparable store sales guidance.

For fiscal 2019, the company continues to project net sales in a range of $9.65 billion to $9.75 billion, but lowered its comparable store sales increase outlook to a range of 1.0 to 1.5 percent from the prior range of 1.0 to 2.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report sales of $9.72 billion for fiscal year 2019.

Last week, the Company's Board of Directors declared a regular quarterly cash dividend of $0.06 per share, payable on January 3, 2020 to all common shareholders of record as of December 20, 2019.

The Company's Board of Directors also authorized a $700.0 million share repurchase program, which replaced the remaining portion of the Company's $400.0 million share repurchase program that was authorized in August 2019.