Strong Comparable Sales Growth
The company reported a 3% growth in comparable sales for the third quarter, with both Pro and DIY channels delivering growth.
Significant Operating Margin Expansion
Adjusted operating margin expanded by 370 basis points year-over-year to 4.4%, marking the strongest margin in over two years.
Proactive Debt Reorganization
The company strengthened its balance sheet by reorganizing its debt capital structure, raising nearly $2 billion in cash to enhance liquidity and aiming for an investment-grade credit rating.
Strategic Partnership and Vendor Alignment
Positive vendor reactions to strategic actions such as exiting underperforming markets and investing in new stores, leading to improved product margins.
Market Hub Expansion
Opened 6 new locations in Q3, with plans to end the year with 33 market hubs, supporting a strategic expansion and market share gain.