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Advance Auto Parts (NYSE: AAP), headquartered in Roanoke, Virginia, is the second-largest retailer of automotive aftermarket parts, accessories, batteries, and maintenance items in the United States, based on store count and sales. more...

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As of July 15, 2006, the Company operated 2,971 stores in 40 states, Puerto Rico, and the Virgin Islands. The Company serves both the do-it-yourself and professional installer markets.

Advance was named the "Best Managed Company in America" in the retail sector in the January 10, 2005, issue of Forbes Magazine. This recognition is part of the annual Forbes Platinum 400 list of top-performing big corporations. The best-managed companies are those businesses that top the rankings in 26 different industries.

History:

In 1932, Arthur Taubman purchased a small chain of home and auto supply stores in Roanoke, Virginia and one in Lynchburg, Virginia. Advance Stores carried a wide variety of merchandise, including appliances, TV sets, toys and bicycles, and operated under Arthur Taubman’s strict four-point philosophy.

During the 1970’s, the company modernized the name of its stores to Advance Auto. The newly renamed chain of stores eliminated home appliances and several other products and concentrated increasingly on its core automotive parts business.

The 1980’s began a rapid, yet carefully planned, expansion. As part of this expansion, Advance Auto began to sharpen its marketing focus on automotive hard parts for “do-it-yourselfers”. In order to meet the needs of these customers, the Company introduced its new PDQ, Parts Delivered Quickly, system in 1982. This innovative service allowed customers access to more than 25,000 automotive components (in excess of 250,000 today), within a 24-hour period.

In 1985, to emphasize the PDQ system and the Company’s dedication to automotive hard parts, Advance Auto’s name evolved into Advance Auto Parts.

In the 1990’s, the company continued its rapid growth, opening stores in several new states and constructing new distribution centers. At the close of 1993, Advance Auto parts had more than doubled in size since it first began its expansion plan, with a year-end total of 352 stores.

In March 1994, Advance Auto Parts founder Arthur Taubman passed away, leaving behind a legacy in a company that had established a presence in eight states and employed more than 5,000 people. Since early 1994, Advance Auto Parts has continued its rapid growth across the eastern United States, spreading into 38 states, and more than quadrupling its total number of stores. 1998 was a year of both change and growth for Advance Auto Parts. First, in April, the Taubman family sold a majority interest in the company to the investment firm of Freeman Spogli. Then, in August, Advance Auto Parts announced that the Western Auto Supply Company/Parts America, would merge with Advance. Western Auto/Parts America, which traces its roots back to 1909, came to the new partnership with an impressive history in its own right. The two companies shared almost a century of experience in the automotive industry, and their combined power continues to drive the Advance Auto Parts team to even further success.

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