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CarParts.com Expects FY24 Net Sales At Low End In Range Of $600M - $625M (Est $604.659M) And Gross Margin To Be 33%, Plus Or Minus 100 Basis Points

Author: Benzinga Newsdesk | July 30, 2024 04:55pm

Management Commentary

"In the first half of the year, we updated our pricing and marketing acquisition strategies to target more profitable customers and generate higher gross margins. As a result, in the second quarter, we saw sequential margin improvement with product margins at 54.0%, up 210 bps from Q1. We expect Q3 to be sequentially higher."

"We are  forging on a path that we expect will result in achieving sustainable and significantly positive Adjusted EBITDA next year while working towards achieving a 6-8% Adjusted EBITDA margin and enhanced free cash flow generation in the medium term" said David Meniane, CEO. 

 

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