CSK Auto Updates Expectations for Fiscal 2000 Q2
23 August 2000
PHOENIX - CSK Auto Corp. announced today that net sales for the second quarter ended July 30, 2000 were $373.5 million. This represents an increase of 24% over the prior year's second quarter, but reflects flat comparable store sales for the period. Primarily as a result of lower than expected sales levels at recently acquired stores and the lower than anticipated comparable store sales, CSK Auto currently expects to report second-quarter earnings of approximately $0.30 per diluted common share, excluding one-time acquisition-related charges. The current consensus of analysts' estimates for the second quarter is $0.49 per diluted common share, as compiled by First Call/Thompson Financial. CSK Auto will formally announce second-quarter results on September 7, 2000. At that time the Company expects to lower earnings guidance for the full fiscal year based on current sales trends and second quarter results. CSK Auto Corporation is the parent of CSK Auto, Inc., a specialty retailer in the automotive aftermarket. As of July 30, 2000, the Company operated 1,143 stores in 19 states under the brand names Checker Auto Parts, Schuck's Auto Supply and Kragen Auto Parts.