CarParts.com reports Q3 EPS (4c), consensus (11c)

Reports Q3 revenue $144.8M, consensus $142.2M. “Over the last 12 months, we have been working on re-platforming carparts.com (PRTS) to increase performance and shorten our development cycles. I’m proud to announce that carparts.com is now on a best-in-class cloud-based infrastructure which allows us to roll out new features faster than ever. We have recently rolled out several strategic initiatives, such as our partnership with SimpleTire, offering a full assortment of tires with installation, our new shipping and product protection offering, and VIN lookup that has 30,000 uses in just two weeks. Although we are early in the journey, all these initiatives are seeing take rates and usage higher than anticipated. Additionally, we are happy to announce the launch of our eBay store in Canada with a full assortment of mechanical parts. We are leveraging our best-in-class catalog and marketplaces capabilities to capture incremental revenue in this new global market. Early signs are positive, and as we continue to ramp up, we believe it could become a top line revenue driver. On the Amazon front, we have recently completed a pilot, leveraging the Amazon fulfillment network to offer a selection of our private label parts. This program offers amazon shoppers our private label products with fast delivery and Prime badging. Our OE premium brands are up 24% YOY, our European brands are up 23% YOY, and finally, our wholesale commercial sales channel, excluding the impact of our Vegas move, is up mid-single digits” said David Meniane, CEO.