Core Viewpoint - CarParts.com is exploring strategic alternatives, including a potential sale, after receiving inbound inquiries, with no set timeline for completion and no certainty of a strategic change [1][2] Company Performance - In the third quarter, CarParts.com reported a 13% decline in net sales year-over-year, totaling $144.8 million, alongside a net loss of $10 million [3] - The sales decrease was attributed to deliberate price increases aimed at higher value customers, gross margin expansion, and challenges in the consumer environment, as well as one-time impacts from external events [4] Strategic Initiatives - The company has invested significantly in building a vertically integrated supply chain and a nationwide fulfillment network to enhance its eCommerce experience and mobile app [3] - CarParts.com is undergoing a re-platforming process to improve performance and reduce development cycles, with expectations to capitalize on opportunities in the $400 billion auto parts market [5] User Engagement - The cumulative downloads of CarParts.com's mobile app have more than doubled to over 550,000 at the beginning of the year, indicating growing user engagement despite sales challenges [4]

Core Viewpoint - CarParts.com is exploring strategic alternatives to maximize shareholder value, including a potential sale of the company, in response to inbound inquiries [1][2] Company Overview - CarParts.com is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories, operating for over 25 years [3] - The company has established itself as a premier destination for drivers seeking repair and maintenance solutions, emphasizing customer satisfaction and affordability [3] - CarParts.com operates a robust fulfillment network to ensure swift delivery of parts from leading brands across the nation [3] Strategic Initiatives - The Board of Directors has engaged Craig-Hallum Capital Group LLC as its financial advisor and Wilson Sonsini Goodrich & Rosati as its legal counsel to support the exploration of strategic alternatives [1] - CEO David Meniane highlighted significant investments made over the last 5 years in building a vertically integrated supply chain and a nationwide fulfillment network [2] - The company has not set a timeline for the completion of the exploration process and does not intend to provide updates unless definitive agreements are reached [2]

Company Overview - CarParts.com, Inc. is a technology-driven eCommerce company that offers over 1 million high-quality automotive parts and accessories [4] - The company has been operating for over 25 years and has established itself as a premier destination for drivers seeking repair and maintenance solutions [4] - CarParts.com focuses on customer satisfaction and affordability, simplifying the automotive repair process [4] Upcoming Financial Results - CarParts.com will hold a conference call on March 25, 2025, at 2:00 p.m. Pacific Time to discuss its financial results for the fourth quarter and fiscal year ended December 28, 2024 [1] - The financial results will be reported in a press release prior to the call [1] - The conference call will be hosted by CEO David Meniane, CFO Ryan Lockwood, and COO Michael Huffaker, followed by a question and answer period [2] Accessing the Conference Call - Participants can pre-register for the conference call using a provided link and will receive a confirmation email with dial-in details [2] - The live webcast of the event can be accessed on the company's investor relations website [2] - A replay of the webcast will be archived on the company's website for future access [3]

Core Points - CarParts.com is launching Fix-It Day 2025, a community initiative providing free car repairs to individuals and families in need, in partnership with Safe Parking LA and other organizations [1][2] - The event will take place on March 2, 2025, serving 38 pre-selected families who have faced hardships, including displacement from wildfires [2][3] - Skilled mechanics will offer essential services such as brake replacements and oil changes at no cost, addressing the financial burden of car repairs which can range from $500 to $1,000 [3][4] Company Overview - CarParts.com is a technology-driven eCommerce company specializing in automotive parts and accessories, with over 1 million products available [8] - The company has been operational for over 25 years and focuses on customer satisfaction through a user-friendly website and mobile app [8] - CarParts.com aims to simplify the automotive repair process and ensure swift delivery of quality parts nationwide [8] Partnership and Community Impact - Safe Parking LA, a nonprofit organization, is collaborating with CarParts.com to identify families in need, particularly those experiencing vehicular homelessness [9] - The Petersen Automotive Museum is providing venue and logistical support for the event, emphasizing the importance of reliable transportation for those affected by recent hardships [5][6] - Additional partners include Wrench, JC Whitney, LIQUI MOLY, and Bosch, contributing resources and services to enhance the event [5][6] Ongoing Support - Participants will receive complimentary CarParts+ Memberships, granting access to exclusive discounts and auto care resources [6] - The initiative aims to restore dignity and hope for families reliant on their vehicles for daily activities, reinforcing community support [4][7]

Core Insights - JC Whitney is revitalizing its brand by launching the JC Whitney Magazine, which aims to serve automotive enthusiasts across North America and Canada [1][2] - The magazine features over 100 pages of curated content, including industry trends, car culture, product innovations, and expert insights, along with a catalog section that revives the iconic JC Whitney Catalog [1] - The expansion of the magazine aligns with JC Whitney's 110th anniversary and its transformation under CarParts.com, reinforcing its commitment to the automotive community [2] Company Overview - CarParts.com, Inc. is a technology-driven eCommerce company that offers over 1 million high-quality automotive parts and accessories, focusing on customer satisfaction and affordability [4] - The company has been operating for over 25 years and aims to simplify the automotive repair process through a user-friendly website and app [4] - CarParts.com is headquartered in Torrance, California, and emphasizes a robust fulfillment network for swift delivery of parts [5]

Core Points - CarParts.com, Inc. has regained compliance with Nasdaq's minimum bid price requirement, closing at or above $1.00 per share for 10 consecutive business days from December 30, 2024, to January 14, 2025 [2][3] - The CEO of CarParts.com, David Meniane, emphasized that this milestone reflects the market's recognition of the company's operational execution and business potential [3] - The company is committed to creating long-term shareholder value through strategic initiatives and operational excellence in providing high-quality automotive parts and accessories [3] Company Overview - CarParts.com, Inc. is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories, operating for over 25 years [4] - The company aims to simplify the automotive repair process, focusing on customer satisfaction and affordability, with a mobile-friendly website and app [4] - CarParts.com has a robust fulfillment network to ensure swift delivery of parts from leading brands to customers nationwide [4][5]

Company Overview - CarParts com Inc is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories [3] - The company has been operating for over 25 years and is headquartered in Torrance California [3][4] - CarParts com aims to simplify the automotive repair process with a focus on affordability and customer satisfaction [3] CarParts+ Membership Program - CarParts+ is a flagship membership program launched by CarParts com designed to enhance the online shopping experience for automotive parts and maintenance [5] - The membership costs $79 per year and offers benefits such as 24/7 roadside assistance free shipping on over 500 000 eligible items extended 60-day returns and VIP customer service [5][6] - Roadside assistance includes services like a 15-mile tow battery boosts tire changes lockout assistance and fuel delivery [6] Customer-Centric Approach - CarParts com emphasizes a strong focus on customer needs with a commitment to continuous innovation [1] - The company provides tools and support to help customers maintain their vehicles smoothly including extended returns and 24/7 roadside assistance [1] - The mobile-friendly website and app along with a robust fulfillment network ensure swift delivery of top-quality parts [3]

Core Insights - CarParts.com has partnered with SimpleTire to expand into the tire market, offering over 300 tire brands and a catalog of 55 million tires, enhancing its one-stop-shop experience for vehicle owners in North America [1][2][3]. Company Overview - CarParts.com is a technology-driven eCommerce company that has been operating for over 25 years, providing over 1 million high-quality automotive parts and accessories [6]. - The company is headquartered in Torrance, California, and focuses on customer satisfaction through a user-friendly website and app [6][7]. Partnership Details - The partnership with SimpleTire allows CarParts.com to leverage SimpleTire's extensive network of 10,000 installers, making tire shopping more efficient for customers [4]. - SimpleTire offers a diverse range of tire brands, including Pirelli, Yokohama, Continental, Hankook, and Nexen, ensuring customers can find suitable tires for various vehicles and performance needs [3]. Customer Experience - Customers can search for tires by vehicle type, size, or performance category, and benefit from fast, free shipping on most orders and a 30-day return policy for unmounted tires [4]. - The partnership aims to provide a comprehensive and hassle-free automotive shopping experience, reinforcing CarParts.com's commitment to convenience, quality, and value [5].

CarParts.com, Inc. (NASDAQ:PRTS) Q3 2024 Earnings Conference Call October 29, 2024 5:00 PM ET Company Participants Tina Mirfarsi – Senior Vice President of Global Communications and Brand David Meniane – Chief Executive Officer Ryan Lockwood – Chief Financial Officer Conference Call Participants Ryan Sigdahl – Craig-Hallum Capital Group Operator Good afternoon. At this time all participants will be in a listen-only mode. After the presentation, there will be a question-and-answer session. Please note this c ...

CarParts.com Reports Third Quarter 2024 Results TORRANCE, Calif. – October 29th, 2024 – CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the third quarter ended September 28, 2024. Third Quarter 2024Summary vs. Year-Ago Quarter ● Net sales decreased to $144.8 million, down 13% from the year-ago quarter. ● Gross profit of $51.0 million vs. $54.8 million. ● Gross mar ...