Thread regarding Advance Auto Parts Inc. layoffs

Another EX employee here or should I say team member, what a joke. The law firm that contacted me hasn't filed it's law suit yet. More law suits are coming, you better believe.

These legal hyenas are the corporate equivalent of ambulance chasers. These class action jokes mean nothing. Advance has the horsepower to move the company in the right direction, and the executive team is executing. The rank and file are skittish because they’re working hard to helping the company rebuild, and they’d rather earn easy money. The auto parts business ain’t Best Buy, kids. Learn how to grow your business at the wholesale level, or leave it to those of us that get it.

This lawsuit is a joke, just like AAP. Read what the complaint is about. An investor is upset they lost money. Who wouldn't be? Dummy should have never invested in the first place. I assume this will go nowhere.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose or indicate: (1) integration issues surrounding the Company’s Carquest acquisition resulted in systemic inefficiencies and cannibalization of sales; (2) increased competition was negatively impacting sales; and (3) as a result, the Company’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.

Specifically, on May 24, 2017, Advance Auto Parts reported disappointing first quarter fiscal 2017 financial and operational results. The Company reported a quarterly decrease in gross profit, “primarily driven by investments in the customer, inventory optimization efforts and supply chain expense deleverage due to the comparable store sales decline.” Further, Advance Auto Parts reported that its quarterly comparable store sales had declined 2.7%. On this news, Advance Auto Parts’ share price fell from $140.66 per share on May 23, 2017 to a closing price of $133.02 on May 24, 2017—a $7.64 or a 5.43% drop.

Then, on August 15, 2017, Advance Auto Parts reported disappointing second quarter fiscal 2017 financial and operational results. The Company disclosed, in part, that “[c]omparable store sales for the quarter were flat.” On this news, Advance Auto Parts’ share price fell from $109.32 per share on August 14, 2017 to a closing price of $87.08 on August 15, 2017—a $22.24 or a 20.34% drop.

This will be, wait for it ...................Legendary

The legal costs defending the stock issue may spell the end. This is going to be expensive.

Been padding books for years, scamming investors, and loyal employees. Caught with pants around ankles. Now trying to clean things up. Brought in a huge investor, his primary goal in past to downsize and then dump stock making a huge profit leaving companies burned to dust. Those foolish enough to stay and buy into all the hype and plans to bring advance back shall be ones getting real shaft. Advance has been shedding jobs, cutting most fulltime positions, bringing in a bunch partime inexperienced low paid staff. Replacing most staff with actual automotive, management experience. Brought in "spark" outside company to update and maintain planograms. Told us how much better and cost effective this action shall be. Well after experiencing my stores detailing and air freshener reset the only noticeable change has been them removing dust and wiping down bottom of the shelves. Time frame for a planograms update/ reset done buy advance crew approx. 4 -5 hrs, "spark" took approx 2 8hr shifts. I would love them to post the cost charges for the spark work, my guess 3-4 times the cost. Guess in long run when they implement rest cuts. Rumors that staffing changes soon. Getting rid of stores AGM maybe even all other fulltime positions. So far of course more hours cut. Advance saving higher paid, also insurance, and all other fulltime benefits, This all sounds great to some employees. One less responsibility lost, until the pink slips arrive. Heard those effected shall be offered less paying positions, less hours, no incentive to stay with this failing company, for those planning to stick it out, be Leary of promises and reassurances. They mean nothing unless it's put in writing. Hope for best but also don't be stupid plan for worst.

All indications of how badly the stocks dropped during that time felt like there was manipulation taking place, so I will be interested to know if this was true myself. And if so, what heads, if any, will roll.

Legal firms are smelling easy money. At least 12 firms are now representing shareholders. The end is near.