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{{Short description|American online retailer of automotive aftermarket parts}}
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{{Article for deletion/dated|page=CarParts.com|timestamp=20241210131015|year=2024|month=December|day=10|substed=yes|help=off}}
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{{Infobox company
{{Infobox company
| name = CarParts.com
| name = CarParts.com
| logo = CarParts.com logo.svg
| logo = CarParts.com_Logo_with_Trademark.png
| logo_alt = CarParts.com logo
| logo_alt = CarParts.com logo
| type = Public company
| type = Public company
| traded_as = {{NASDAQ|PRTS}}
| traded_as = {{NASDAQ|PRTS}}
| founded = 1995
| founded = 1995
| founders = Sol Khazani and Mehran Nia
| founders = Sol Khazani and Mehran Nia
| hq_location = Torrance, California
| hq_location = Torrance, California
| area_served = Throughout the U.S.<ref name="CarParts.com Shipping Policy">{{cite web | url=https://www.carparts.com/customer/policies | title=Shipping Policy | work=CarParts.com | access-date=April 12, 2020}}</ref>
| area_served = Throughout the U.S.<ref name="Shipping Policy">{{cite web | url=https://www.carparts.com/customer/policies | title=Shipping Policy | work=CarParts.com | access-date=April 12, 2020}}</ref>
| products = [[auto parts|Automotive parts]] and [[:Category:Automotive accessories|accessories]]<ref name="CarParts.com Rebrand February 2020"/>
| products = [[auto parts|Automotive parts]] and [[:Category:Automotive accessories|accessories]]<ref>{{cite web | url=https://www.businesswire.com/news/home/20200224005586/en/ | title=CarParts.com Unveils New Brand Identity that Drives Customer Experience | work=Business Wire | date=24 February 2020|access-date=January 26, 2022}}</ref>
| revenue = {{increase}}$582.4 million
| key_people = {{Unbulleted list|[[Lev Peker]] ([[Chief executive officer|CEO]])|[[David Meniane]] ([[Chief Financial Officer|CFO]] and [[Chief Operating Officer|COO]])}}
| revenue_year = 2021
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| website = [https://www.carparts.com www.carparts.com]
| assets= {{increase}}$235.3 million
| assets_year= 2021
| equity= {{increase}} $95.5 million
| equity_year= 2021
| net_income= {{decrease}} $-10.3 million
| net_income_year= 2021
| key_people = {{Unbulleted list|David Meniane ([[Chief executive officer|CEO]])}}<ref name="promotes">{{cite web | url=https://www.prnewswire.com/news-releases/carpartscom-promotes-david-meniane-to-ceo-and-ryan-lockwood-to-cfo-301503281.html | title=CarParts.com Promotes David Meniane to CEO and Ryan Lockwood to CFO | work=PR Newswire | date=15 March 2022|access-date=May 2, 2022}}</ref>
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| website = [https://www.carparts.com www.carparts.com]
| footnotes =<ref>{{cite web | url=https://sec.report/Document/0001378950-22-000014/#ITEM8FINANCIALSTATEMENTSANDSUPPLEMENTARY | title=CarParts.com 2021 Annual 10K Report |access-date=April 26, 2022}}</ref>
}}
}}


'''CarParts.com''' (formerly '''U.S. Auto Parts Network, Inc.''') is an American online provider of [[automotive aftermarket|aftermarket]] auto parts, including collision parts, engine parts, and performance parts and accessories.<ref name="Name Change">{{cite web | url=https://www.businesswire.com/news/home/20200727005165/en/U.S.-Auto-Parts-Network-CarParts.com | title=U.S. Auto Parts Network Is Now CarParts.com | work=Businesswire | date=27 July 2020|access-date=July 28, 2020}}</ref> The company is headquartered in [[Torrance, California]] and was founded in 1995 by Sol Khazani and Mehran Nia. It is traded on [[NASDAQ]] as PRTS. The company sells 1.2 million [[Stock keeping unit|SKUs]], including 58,000 [[private label]] SKUs.<ref name="usa10k" /><ref name="First Quarter Sales">{{cite web | url=https://www.prnewswire.com/news-releases/us-auto-parts-reports-record-sales-for-first-quarter-2020-301054229.html | title=U.S. Auto Parts Reports Record Sales for First Quarter 2020 | work=PR Newswire | date=6 May 2020|access-date=May 13, 2020}}</ref>
'''CarParts.com''' (formerly '''U.S. Auto Parts Network, Inc.''') is an American online provider of [[automotive aftermarket|aftermarket]] auto parts, including collision parts, engine parts, and performance parts and accessories.<ref>{{cite web | url=https://www.businesswire.com/news/home/20200727005165/en/U.S.-Auto-Parts-Network-CarParts.com | title=U.S. Auto Parts Network Is Now CarParts.com | work=Businesswire | date=27 July 2020|access-date=July 28, 2020}}</ref> The company is headquartered in [[Torrance, California]] and was founded in 1995 by Sol Khazani and Mehran Nia. It is traded on [[NASDAQ]] as PRTS. The company sells 1.2 million [[Stock keeping unit|SKUs]], including 58,000 [[private label]] SKUs.<ref>{{cite web | url=https://www.prnewswire.com/news-releases/us-auto-parts-reports-record-sales-for-first-quarter-2020-301054229.html | title=U.S. Auto Parts Reports Record Sales for First Quarter 2020 | work=PR Newswire | date=6 May 2020|access-date=May 13, 2020}}</ref>


== History ==
==History==


===Early years===
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U.S. Auto Parts Network, Inc. was founded in 1995 by Sol Khazani and Mehran Nia. The company was first [[Incorporation (business)|incorporated]] in [[California]] in 1995 and reincorporated in [[Delaware]] in March 2006.<ref>{{cite web | url=https://www.usautoparts.com/faq | title=FAQ | work=US Auto Parts | access-date=April 12, 2020}}</ref> The flagship website, CarParts.com, was established in 1999 as an [[e-commerce]] site. Its online catalogue carries parts for vehicle makes and models from 1980 to the present.<ref name="CarParts.com About Us">{{cite web | url=https://www.carparts.com/company/about | title=CarParts.com - About Us | work=CarParts.com | access-date=April 12, 2020}}</ref>


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U.S. Auto Parts Network, Inc. was founded in 1995 by Sol Khazani and Mehran Nia. The company was first [[Incorporation (business)|incorporated]] in [[California]] in 1995 and reincorporated in [[Delaware]] in March 2006.<ref>{{cite web | url=https://www.carparts.com/investor/resources | title=FAQ | work=CarParts.com | access-date=January 26, 2022}}</ref> The flagship website, CarParts.com, was established in 1999 as an [[e-commerce]] site. Its online catalogue carries parts for different make models.
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In addition to the corporate headquarters in Torrance, California, the company has distribution centers in [[LaSalle, Illinois]], [[Chesapeake, Virginia]] (opened 2016), and [[Las Vegas, Nevada]]. The warehouse at 2821 Marion Drive in [[Las Vegas, Nevada]] was opened to cut shipping times for its customers in the [[Western United States|West]].<ref>{{Cite web|title=Las Vegas distribution hub to help CarParts.com cut shipping times|url=https://www.reviewjournal.com/business/las-vegas-distribution-hub-to-help-carparts-com-cut-shipping-times-1858783/|date=2019-09-28|website=Las Vegas Review-Journal|language=en-US|access-date=2020-05-14}}</ref> The company plans to invest between $13 million and $15 million in the facility.<ref name="CarParts.com Distribution Hub September 2019">{{cite web | url=https://www.reviewjournal.com/business/las-vegas-distribution-hub-to-help-carparts-com-cut-shipping-times-1858783/ | title=Las Vegas distribution hub to help CarParts.com cut shipping times | work=Las Vegas Review-Journal | date=27 September 2019|access-date=April 12, 2020}}</ref>


⚫
In addition to the corporate headquarters in Torrance, California, the company has distribution centers in [[LaSalle, Illinois]], [[Chesapeake, Virginia]] (opened 2016), [[Grand Prairie, Texas]], and [[Las Vegas, Nevada]]. The warehouse at 2821 Marion Drive in [[Las Vegas, Nevada]] was opened to cut shipping times for its customers in the [[Western United States|West]].<ref>{{Cite web|title=Las Vegas distribution hub to help CarParts.com cut shipping times|url=https://www.reviewjournal.com/business/las-vegas-distribution-hub-to-help-carparts-com-cut-shipping-times-1858783/|date=2019-09-28|website=Las Vegas Review-Journal|language=en-US|access-date=2020-05-14}}</ref> The company planned to invest between $13 million and $15 million in the facility.<ref>{{cite web | url=https://www.reviewjournal.com/business/las-vegas-distribution-hub-to-help-carparts-com-cut-shipping-times-1858783/ | title=Las Vegas distribution hub to help CarParts.com cut shipping times | work=Las Vegas Review-Journal | date=27 September 2019|access-date=April 12, 2020}}</ref>
⚫
As of 2019, CarParts.com had 335 employees in the United States. The company also has a 500-employee presence in the [[Philippines]] handling a call center, website development, and [[back office]]. Online sales on [[eBay]] and [[Amazon.com|Amazon]] each represented 42% of their sales, and private label collision parts were responsible for 62% of revenue. Their annual sales were $280 million at a [[gross margin]] of 30%. They ended the year with a net loss of $31.5 million. [[RSM US]] is their independent auditor.<ref name="usa10k"/><ref name="usau_PRTS">{{Cite web |title=PRTS_2020 Proxy |author= |work=usautoparts.com |date= |access-date=29 April 2020 |url= https://www.usautoparts.com/all-sec-filings/content/0001378950-20-000007/prts-20200616xdef14a.htm?TB_iframe=true&height=auto&width=auto&preload=false}}</ref><ref name="usa10k">{{Cite web |title=prts_Current_Folio_10K |author= |work=usautoparts.com |date= |access-date=29 April 2020 |url= https://www.usautoparts.com/all-sec-filings/content/0001558370-20-002264/prts-20191228x10k.htm?TB_iframe=true&height=auto&width=auto&preload=false}}</ref>


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===2019===
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In 2019, the company launched a [[scholarship]] program for students enrolled in college or any [[Higher education|post-secondary]] institution located within the U.S.<ref>{{cite web | url=https://www.scholarshipportal.com/scholarship/carparts-com-scholarship-program | title=Carparts.com Scholarship Program | work=ScholarshipPortal | access-date=April 12, 2020}}</ref>


⚫
CarParts.com had 335 employees in the United States. The company also had 500 employees in the [[Philippines]] handling a call center, website development, and [[back office]]. Online sales on [[eBay]] and [[Amazon.com|Amazon]] each represented 42% of their sales, and private label collision parts were responsible for 62% of revenue. Their annual sales were $280 million at a [[gross margin]] of 30%.<ref>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1378950/000155837020002264/prts-20191228x10k.htm | title=U.S. AUTO PARTS NETWORK, INC. FORM 10-K | work=U.S. S.E.C. | access-date=January 26, 2022}}</ref>
For the first quarter of 2020, CarParts.com reported record net sales, the highest quarterly sales in the history of the company. Gross profit of $29.8 million in the first quarter of 2020 was the highest quarterly gross profit in nearly a decade.<ref name="First Quarter Sales"/>


⚫
In 2019, the company launched a [[scholarship]] program for students enrolled in college or any [[Higher education|post-secondary]] institution located within the U.S.<ref>{{cite web |url=https://www.scholarshipportal.com/scholarship/carparts-com-scholarship-program |title=Carparts.com Scholarship Program |work=ScholarshipPortal |access-date=April 12, 2020 |archive-url=https://web.archive.org/web/20200929222754/https://www.scholarshipportal.com/scholarship/carparts-com-scholarship-program |archive-date=29 September 2020 |url-status=dead}}</ref>
In February 2020, CarParts.com implemented an extensive [[rebranding]] initiative as part of its plans for growth. The company revamped its website design and logo, and introduced the new [[tagline]], “Right Parts, Guaranteed.”<ref name="CarParts.com Rebrand February 2020">{{cite web | url=https://www.businesswire.com/news/home/20200224005586/en/ | title=CarParts.com Unveils New Brand Identity that Drives Customer Experience | work=BusinessWire | date=24 February 2020|access-date=April 12, 2020}}</ref>


⚫
Lev Peker replaced Aaron Coleman, the company CEO, in January 2019. Barry Phelps is chairman of the board.<ref>{{Cite web |last=Inc |first=U. S. Auto Parts Network |title=U.S. Auto Parts Appoints Lev Peker to Chief Executive Officer |url=https://www.prnewswire.com/news-releases/us-auto-parts-appoints-lev-peker-to-chief-executive-officer-300756441.html |access-date=2020-05-15 |website=www.prnewswire.com |language=en}}</ref>
⚫
During the [[COVID-19 pandemic]], CarParts.com received $4.1 million in federally backed small business loans from [[J.P. Morgan]] as part of the [[Paycheck Protection Program]]. The company was not among the intended beneficiaries of this loan program aimed at small businesses. CarParts.com reported their highest revenue in eight years just before the pandemic started and has access to a $30 million [[line of credit]] with JP Morgan, which had a zero balance on December 28, 2019. After new SBA guidance for public companies, CarParts.com returned the loan.<ref name="nyti_Larg">{{Cite web |title=Large, Troubled Companies Got Bailout Money in Small-Business Loan Program |author= |work=nytimes.com |date= |access-date=28 April 2020 |url= https://www.nytimes.com/2020/04/26/business/coronavirus-small-business-loans-large-companies.html}}</ref><ref name="usa10k"/><ref name="ppp8k">{{Cite web |title=prts_current folio_8-k_PPP loan |author= |work=usautoparts.com |date= |access-date=29 April 2020 |url= https://www.usautoparts.com/all-sec-filings/content/0001378950-20-000004/prts-20200410x8k.htm?TB_iframe=true&height=auto&width=auto&preload=false}}</ref><ref name=":0">{{Cite web|title=Small businesses still afloat grapple with whether to accept stimulus funds|url=https://www.washingtonpost.com/business/2020/05/04/small-businesses-still-afloat-grapple-with-whether-accept-stimulus-funds/|last=O'Connell|first=Jonathan|last2=|first2=|date=May 4, 2020|website=Washington Post|language=English|url-status=live|archive-url=|archive-date=|access-date=2020-05-05}}</ref>


===2020===
⚫
In May 2020, [[Auto Parts Warehouse]] was merged into the flagship website, CarParts.com. CarParts.com also announced a partnership with Front Row Motor Sports as a primary partner for Michael McDowell in the NASCAR Cup Series' return to racing at Darlington Raceway on May 17,2020 and May 20, 2020<ref>{{Cite web|title=Auto aftermarket e-tailer thrives in private label|url=https://storebrands.com/auto-aftermarket-e-tailer-thrives-private-label|website=Store Brands|language=en|access-date=2020-05-14}}</ref><ref>{{Cite web|title=McDowell to Race with CarParts.com at Darlington|url=https://www.speedwaydigest.com/index.php/news/nascar-cup-series-news/56054-mcdowell-to-race-with-carparts-com-at-darlington|last=Staff|first=Speedway Digest|website=www.speedwaydigest.com|language=en-gb|access-date=2020-05-14}}</ref>


In June 2020, CarParts.com (NASDAQ: PRTS) was added to the [[Russell 2000 Index]].<ref name="Russell">{{cite web | url=https://www.businesswire.com/news/home/20200629005323/en/U.S.-Auto-Parts-Network-Selected-Russell-2000 | title=U.S. Auto Parts Network Selected for Russell 2000 Index | work=Businesswire | date=29 June 2020|access-date=July 28, 2020}}</ref>
For the first quarter of 2020, CarParts.com reported record net sales, the highest quarterly sales in the history of the company. Gross profit of $29.8 million in the first quarter of 2020 was the highest quarterly gross profit in nearly a decade.<ref>{{cite web | url=http://markets.businessinsider.com/news/stocks/u-s-auto-parts-reports-record-sales-for-first-quarter-2020-1029172568 | title=U.S. Auto Parts Reports Record Sales for First Quarter 2020 | work=PR Newswire | date=6 May 2020|access-date=January 26, 2022}}</ref>


In July 2020, [[JC Whitney]], a subsidiary of CarParts.com, was merged into the flagship website. JC Whitney will launch a new line of accessories for Jeep and truck owners on its new website.<ref name="Merge">{{cite web | url=https://www.carparts.com/jcwhitney/ | title=A New Era for JC Whitney | work=CarParts.com | access-date=July 20, 2020}}</ref>
In February 2020, CarParts.com implemented an extensive [[rebranding]] initiative as part of its plans for growth. The company revamped its website design and logo, and introduced the new [[tagline]], “Right Parts, Guaranteed.”<ref>{{cite web | url=https://www.bloomberg.com/press-releases/2020-02-24/carparts-com-unveils-new-brand-identity-that-drives-customer-experience | title=CarParts.com Unveils New Brand Identity that Drives Customer Experience | work=Bloomberg | date=24 February 2020|access-date=January 26, 2022}}</ref>


⚫
During the [[COVID-19 pandemic]], CarParts.com received $4.1 million in federally backed small business loans from [[J.P. Morgan]] as part of the [[Paycheck Protection Program]]. The company was not among the intended beneficiaries of this loan program aimed at small businesses. CarParts.com reported their highest revenue in eight years just before the pandemic started and has access to a $30 million [[line of credit]] with JP Morgan, which had a zero balance on December 28, 2019. After new SBA guidance for public companies, CarParts.com returned the loan.<ref>{{Cite web |title=Large, Troubled Companies Got Bailout Money in Small-Business Loan Program |author= |work=nytimes.com |date= |access-date=28 April 2020 |url= https://www.nytimes.com/2020/04/26/business/coronavirus-small-business-loans-large-companies.html}}</ref><ref>{{Cite web|title=Small businesses still afloat grapple with whether to accept stimulus funds|url=https://www.washingtonpost.com/business/2020/05/04/small-businesses-still-afloat-grapple-with-whether-accept-stimulus-funds/|last=O'Connell|first=Jonathan|last2=|first2=|date=May 4, 2020|website=Washington Post|language=English|url-status=live|archive-url=https://web.archive.org/web/20200504201129/https://www.washingtonpost.com/business/2020/05/04/small-businesses-still-afloat-grapple-with-whether-accept-stimulus-funds/ |archive-date=2020-05-04 |access-date=2020-05-05}}</ref>
Also in July 2020, the company, which was formerly named U.S. Auto Parts Network, Inc., changed its name to CarParts.com, the name of its flagship website. The U.S. Auto Parts NASDAQ ticker (PRTS) was retained.<ref name="Name Change" />


⚫
In May 2020, Auto Parts Warehouse was merged into the flagship website, CarParts.com. CarParts.com also announced a partnership with Front Row Motor Sports as a primary partner for Michael McDowell in the NASCAR Cup Series' return to racing at Darlington Raceway on May 17, 2020, and May 20, 2020<ref>{{Cite web|title=Auto aftermarket e-tailer thrives in private label|url=https://storebrands.com/auto-aftermarket-e-tailer-thrives-private-label|website=Store Brands|language=en|access-date=2020-05-14}}</ref><ref>{{Cite web|title=McDowell to Race with CarParts.com at Darlington|url=https://www.speedwaydigest.com/index.php/news/nascar-cup-series-news/56054-mcdowell-to-race-with-carparts-com-at-darlington|last=Staff|first=Speedway Digest|website=www.speedwaydigest.com|language=en-gb|access-date=2020-05-14}}</ref>
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In August 2020, CarParts.com reported record sales and gross profit for second quarter 2020. Net sales for the quarter increased 61% to a company record $118.9 million vs. $73.7 million. Gross profit increased 88% to a company record $40.8 million vs. $21.8 million.<ref name="record second quarter">{{cite web | url=https://finance.yahoo.com/news/carparts-com-reports-record-sales-200100838.html | title=CarParts.com Reports Record Sales and Gross Profit for Second Quarter 2020 | work=Yahoo! Finance | date=11 August 2020|access-date=August 12, 2020}}</ref>


⚫
In June 2020, CarParts.com (NASDAQ: PRTS) was added to the [[Russell 2000 Index]].<ref>{{cite web | url=https://www.businesswire.com/news/home/20200629005323/en/U.S.-Auto-Parts-Network-Selected-Russell-2000 | title=U.S. Auto Parts Network Selected for Russell 2000 Index | work=Businesswire | date=29 June 2020|access-date=July 28, 2020}}</ref> In July 2020, CEO and fo-founder of Enplug Nanxi Liu became the first woman on the company's board.<ref>{{Cite web |date=2020-07-16 |title=Nanxi Liu Joins U.S. Auto Parts Network Board of Directors |url=https://www.businesswire.com/news/home/20200716005213/en/Nanxi-Liu-Joins-U.S.-Auto-Parts-Network |access-date=2020-07-16 |website=www.businesswire.com |language=en}}</ref>
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=== Acquisitions ===
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CarParts.com purchased [[Automotive Specialty Accessories and Parts]] ("ASAP") in 2010, including ASAP's subsidiary, WAG (Whitney Automotive Group, owners of [[JC Whitney]]).<ref name="subs">{{Cite web |title=EXHIBIT 21.1: SUBSIDIARIES OF THE REGISTRANT |author= |work=usautoparts.com |date= |access-date=29 April 2020 |url= https://www.usautoparts.com/all-sec-filings/content/0001558370-20-002264/prts-20191228ex211f8c62a.htm}}</ref>


In July 2020, [[JC Whitney]], a subsidiary of CarParts.com, was merged into the flagship website. JC Whitney will launch a new line of accessories for Jeep and truck owners on its new website.<ref>{{cite web | url=https://www.carparts.com/jcwhitney/ | title=A New Era for JC Whitney | work=CarParts.com | access-date=July 20, 2020}}</ref> In the same month, the company also changed its name from U.S. Auto Parts Network, Inc. to CarParts.com, the name of its flagship website. The U.S. Auto Parts NASDAQ ticker (PRTS) was retained.<ref>{{cite web | url=https://www.carparts.com/investor/news-events/press-releases/detail/212/u-s-auto-parts-network-is-now-carparts-com | title=U.S. Auto Parts Network Is Now CarParts.com | work=CarParts.com | access-date=January 26, 2020}}</ref>
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=== Sales ===
CarParts.com sold [[AutoMD]] for $1.4 million in 2018.<ref name="usa10k"/>


⚫
In August 2020, CarParts.com reported record sales and gross profit for second quarter 2020. Net sales for the quarter increased 61% to a company record $118.9 million vs. $73.7 million. Gross profit increased 88% to a company record $40.8 million vs. $21.8 million.<ref>{{cite web | url=https://finance.yahoo.com/news/carparts-com-reports-record-sales-200100838.html | title=CarParts.com Reports Record Sales and Gross Profit for Second Quarter 2020 | work=Yahoo! Finance | date=11 August 2020|access-date=August 12, 2020}}</ref>
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==Services==


===2021===
CarParts.com sells [[List of auto parts|auto parts and accessories]] to customers in the continental United States.<ref>{{cite web | url=https://www.carparts.com/customer/howtoshop | title=How to Shop | work=CarParts.com | access-date=April 12, 2020}}</ref> It operates warehouses in [[LaSalle, Illinois]], [[Chesapeake, Virginia]], and Las Vegas, Nevada.<ref name="CarParts.com About Us"/>

In January 2021, website analytics firm SimilarWeb named CarParts.com the Fastest-Growing Auto Parts Site of 2020, citing 194 percent year-on-year growth. SimilarWeb also cited that the site surpassed its competitors in terms overall site visitors.<ref>{{cite web | url=https://www.aftermarketnews.com/carparts-com-named-2020s-fastest-growing-auto-parts-site | title=CarParts.com Named 2020’s Fastest-Growing Auto Parts Site | work=Yahoo! Finance | date=8 January 2021|access-date=January 26, 2022}}</ref>

In April 2021, CarParts.com announced that it has appointed Henry Maier to its board of directors.<ref>{{cite web |date=April 7, 2021 |title=Henry Maier, CEO Of FedEx Ground, Joins CarParts.com Board |url=https://www.aftermarketnews.com/henry-maier-president-ceo-of-fedex-ground-joins-carparts-com-board/ |accessdate=April 26, 2021}}</ref>

=== 2022 ===
CarParts.com announced effective April 18, 2022, COO & CFO, David Meniane transitioned to CEO and SVP of Finance, Ryan Lockwood was appointed CFO. Lev Peker has stepped down as chief executive officer and director, effective as of close of business on April 15, 2022, to pursue other business opportunities.<ref name="promotes" />

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== Acquisitions and sales ==
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In 2010, CarParts.com purchased Automotive Specialty Accessories and Parts ("ASAP") including ASAP's subsidiary, WAG (Whitney Automotive Group, owners of [[JC Whitney]]).<ref>{{Cite web |title=Form 10-K Carparts.com, Inc. Annual report |author= U.S. S.E.C. |work= U.S. S.E.C. |date= |access-date=January 26, 2022 |url= https://sec.report/Document/0001558370-21-003023/prts-20210102ex211f955fc.htm}}</ref>

In 2018, CarParts.com sold [[AutoMD]] for $1.4 million.<ref>{{cite web|url=https://www.carparts.com/investor/news-events/press-releases/detail/190/u-s-auto-parts-reports-fourth-quarter-and-full-year-2018|title=U.S. Auto Parts Reports Fourth Quarter and Full Year 2018 Results|date=March 7, 2019|accessdate=January 26, 2022}}</ref>

In March 2021, CarParts.com announced that the company entered into a definitive asset purchase agreement with Premium Guard, a global automotive aftermarket supplier, to acquire all Precise Fuel Delivery Systems ("Precise") inventory and data. Premium Guard's Precise assets were absorbed and added to CarParts.com's premium fuel brand, "DriveMotive."<ref>{{cite web|url=https://finance.yahoo.com/news/carparts-com-signs-definitive-agreement-130000850.html|title=CarParts.com Signs Definitive Agreement to Acquire Precise Fuel Pumps from Premium Guard|date=March 29, 2021|accessdate=April 26, 2021}}</ref>

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==Services==


[[File:CarParts.com_Grand_Prairie_Texas_Distribution_Center.jpg|thumb|right|CarParts.com's Grand Prairie, Texas Distribution Center.]]
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CarParts.com ships its products via air or truck [[Freight transport|freight]].<ref name="CarParts.com Shipping Policy">{{cite web | url=https://www.carparts.com/customer/policies | title=Shipping Policy | work=CarParts.com | access-date=April 12, 2020}}</ref>


The website's [[blog]], In The Garage, publishes industry [[News|news articles]], [[Feature story|features]], [[Auto mechanic|auto repair]] guides, and tips for maintaining vehicles.<ref>{{cite web | url=https://www.carparts.com/blog/about-in-the-garage-contact/ | title=About In the Garage with CarParts.com | work=In the Garage | access-date=April 12, 2020}}</ref>
CarParts.com sells [[List of auto parts|auto parts and accessories]] for car repair, maintenance, and collision to a wide range of customers in the continental United States. In addition, it also has a catalog with over 1 million products.<ref>{{cite web | url=https://www.carparts.com/customer/howtoshop | title=How to Shop | work=CarParts.com | access-date=April 12, 2020}}</ref>


The company operates warehouses in [[LaSalle, Illinois]], [[Chesapeake, Virginia]], Las Vegas, Nevada, and Grand Prairie, Texas.<ref>{{cite web | url=https://www.carparts.com/company/about | title=CarParts.com - About Us | work=CarParts.com | access-date=April 12, 2020}}</ref> It also has plans to open another distribution center in Jacksonville, Florida that is slated to open in the first quarter of 2022.<ref>{{cite web | url=https://www.prnewswire.com/news-releases/carpartscom-to-open-sixth-distribution-center-in-jacksonville-florida-301322084.html | title=CarParts.com To Open Sixth Distribution Center In Jacksonville, Florida | work=PRNewswire | access-date=January 26, 2022}}</ref>
== Corporate affairs ==


⚫
CarParts.com ships its products via air or truck [[Freight transport|freight]].<ref name="Shipping Policy">{{cite web | url=https://www.carparts.com/customer/policies | title=Shipping Policy | work=CarParts.com | access-date=April 12, 2020}}</ref>
⚫
[[Lev Peker]] replaced Aaron Coleman, the company CEO, in January 2019. This is Lev's second time with the company, having previously held various managerial positions on the finance and online marketplace teams from 2008 to 2014. Peker's 2019 compensation was $1.9 million.<ref name="usau_PRTS"/> [[Barry Phelps]] is chairman of the board.<ref>{{Cite web|title=U.S. Auto Parts Appoints Lev Peker to Chief Executive Officer|url=https://www.prnewswire.com/news-releases/us-auto-parts-appoints-lev-peker-to-chief-executive-officer-300756441.html|last=Inc|first=U. S. Auto Parts Network|website=www.prnewswire.com|language=en|access-date=2020-05-15}}</ref>


The website's [[blog]], ''In The Garage'', publishes industry [[News|news articles]], [[Feature story|features]], [[Auto mechanic|auto repair]] guides, and tips for maintaining vehicles.<ref>{{cite web | url=https://www.carparts.com/blog/about-in-the-garage-contact/ | title=About In the Garage with CarParts.com | work=In the Garage | access-date=April 12, 2020}}</ref>
⚫
In July 2020, CEO of Enplug [[Nanxi Liu]] joined the company board as the first woman on the board.<ref>{{Cite web|date=2020-07-16|title=Nanxi Liu Joins U.S. Auto Parts Network Board of Directors|url=https://www.businesswire.com/news/home/20200716005213/en/Nanxi-Liu-Joins-U.S.-Auto-Parts-Network|access-date=2020-07-16|website=www.businesswire.com|language=en}}</ref>


==See also==
==See also==
Line 67: Line 95:
* [[AutoZone]]
* [[AutoZone]]
* [[Carquest]]
* [[Carquest]]
* [[Auto Parts Warehouse]]
* [[JC Whitney]]
* [[JC Whitney]]
* [[National Automotive Parts Association]] (NAPA)
* [[National Automotive Parts Association]] (NAPA)
Line 73: Line 100:
* [[Pep Boys]]
* [[Pep Boys]]
* [[Summit Racing Equipment]]
* [[Summit Racing Equipment]]
* [[Copart]]


==References==
==References==

Latest revision as of 13:10, 10 December 2024

CarParts.com
Company typePublic company
Nasdaq: PRTS
Founded1995
FoundersSol Khazani and Mehran Nia
HeadquartersTorrance, California
Area served
Throughout the U.S.[1]
Key people
  • David Meniane (CEO)
[2]
ProductsAutomotive parts and accessories[3]
RevenueIncrease$582.4 million (2021)
Decrease $-10.3 million (2021)
Total assetsIncrease$235.3 million (2021)
Total equityIncrease $95.5 million (2021)
Websitewww.carparts.com
Footnotes / references
[4]

CarParts.com (formerly U.S. Auto Parts Network, Inc.) is an American online provider of aftermarket auto parts, including collision parts, engine parts, and performance parts and accessories.[5] The company is headquartered in Torrance, California and was founded in 1995 by Sol Khazani and Mehran Nia. It is traded on NASDAQ as PRTS. The company sells 1.2 million SKUs, including 58,000 private label SKUs.[6]

History

[edit]

Early years

[edit]

U.S. Auto Parts Network, Inc. was founded in 1995 by Sol Khazani and Mehran Nia. The company was first incorporated in California in 1995 and reincorporated in Delaware in March 2006.[7] The flagship website, CarParts.com, was established in 1999 as an e-commerce site. Its online catalogue carries parts for different make models.

In addition to the corporate headquarters in Torrance, California, the company has distribution centers in LaSalle, Illinois, Chesapeake, Virginia (opened 2016), Grand Prairie, Texas, and Las Vegas, Nevada. The warehouse at 2821 Marion Drive in Las Vegas, Nevada was opened to cut shipping times for its customers in the West.[8] The company planned to invest between $13 million and $15 million in the facility.[9]

2019

[edit]

CarParts.com had 335 employees in the United States. The company also had 500 employees in the Philippines handling a call center, website development, and back office. Online sales on eBay and Amazon each represented 42% of their sales, and private label collision parts were responsible for 62% of revenue. Their annual sales were $280 million at a gross margin of 30%.[10]

In 2019, the company launched a scholarship program for students enrolled in college or any post-secondary institution located within the U.S.[11]

Lev Peker replaced Aaron Coleman, the company CEO, in January 2019. Barry Phelps is chairman of the board.[12]

2020

[edit]

For the first quarter of 2020, CarParts.com reported record net sales, the highest quarterly sales in the history of the company. Gross profit of $29.8 million in the first quarter of 2020 was the highest quarterly gross profit in nearly a decade.[13]

In February 2020, CarParts.com implemented an extensive rebranding initiative as part of its plans for growth. The company revamped its website design and logo, and introduced the new tagline, “Right Parts, Guaranteed.”[14]

During the COVID-19 pandemic, CarParts.com received $4.1 million in federally backed small business loans from J.P. Morgan as part of the Paycheck Protection Program. The company was not among the intended beneficiaries of this loan program aimed at small businesses. CarParts.com reported their highest revenue in eight years just before the pandemic started and has access to a $30 million line of credit with JP Morgan, which had a zero balance on December 28, 2019. After new SBA guidance for public companies, CarParts.com returned the loan.[15][16]

In May 2020, Auto Parts Warehouse was merged into the flagship website, CarParts.com. CarParts.com also announced a partnership with Front Row Motor Sports as a primary partner for Michael McDowell in the NASCAR Cup Series' return to racing at Darlington Raceway on May 17, 2020, and May 20, 2020[17][18]

In June 2020, CarParts.com (NASDAQ: PRTS) was added to the Russell 2000 Index.[19] In July 2020, CEO and fo-founder of Enplug Nanxi Liu became the first woman on the company's board.[20]

In July 2020, JC Whitney, a subsidiary of CarParts.com, was merged into the flagship website. JC Whitney will launch a new line of accessories for Jeep and truck owners on its new website.[21] In the same month, the company also changed its name from U.S. Auto Parts Network, Inc. to CarParts.com, the name of its flagship website. The U.S. Auto Parts NASDAQ ticker (PRTS) was retained.[22]

In August 2020, CarParts.com reported record sales and gross profit for second quarter 2020. Net sales for the quarter increased 61% to a company record $118.9 million vs. $73.7 million. Gross profit increased 88% to a company record $40.8 million vs. $21.8 million.[23]

2021

[edit]

In January 2021, website analytics firm SimilarWeb named CarParts.com the Fastest-Growing Auto Parts Site of 2020, citing 194 percent year-on-year growth. SimilarWeb also cited that the site surpassed its competitors in terms overall site visitors.[24]

In April 2021, CarParts.com announced that it has appointed Henry Maier to its board of directors.[25]

2022

[edit]

CarParts.com announced effective April 18, 2022, COO & CFO, David Meniane transitioned to CEO and SVP of Finance, Ryan Lockwood was appointed CFO. Lev Peker has stepped down as chief executive officer and director, effective as of close of business on April 15, 2022, to pursue other business opportunities.[2]

Acquisitions and sales

[edit]

In 2010, CarParts.com purchased Automotive Specialty Accessories and Parts ("ASAP") including ASAP's subsidiary, WAG (Whitney Automotive Group, owners of JC Whitney).[26]

In 2018, CarParts.com sold AutoMD for $1.4 million.[27]

In March 2021, CarParts.com announced that the company entered into a definitive asset purchase agreement with Premium Guard, a global automotive aftermarket supplier, to acquire all Precise Fuel Delivery Systems ("Precise") inventory and data. Premium Guard's Precise assets were absorbed and added to CarParts.com's premium fuel brand, "DriveMotive."[28]

Services

[edit]
CarParts.com's Grand Prairie, Texas Distribution Center.

CarParts.com sells auto parts and accessories for car repair, maintenance, and collision to a wide range of customers in the continental United States. In addition, it also has a catalog with over 1 million products.[29]

The company operates warehouses in LaSalle, Illinois, Chesapeake, Virginia, Las Vegas, Nevada, and Grand Prairie, Texas.[30] It also has plans to open another distribution center in Jacksonville, Florida that is slated to open in the first quarter of 2022.[31]

CarParts.com ships its products via air or truck freight.[1]

The website's blog, In The Garage, publishes industry news articles, features, auto repair guides, and tips for maintaining vehicles.[32]

See also

[edit]

References

[edit]
  1. ^ a b "Shipping Policy". CarParts.com. Retrieved April 12, 2020.
  2. ^ a b "CarParts.com Promotes David Meniane to CEO and Ryan Lockwood to CFO". PR Newswire. 15 March 2022. Retrieved May 2, 2022.
  3. ^ "CarParts.com Unveils New Brand Identity that Drives Customer Experience". Business Wire. 24 February 2020. Retrieved January 26, 2022.
  4. ^ "CarParts.com 2021 Annual 10K Report". Retrieved April 26, 2022.
  5. ^ "U.S. Auto Parts Network Is Now CarParts.com". Businesswire. 27 July 2020. Retrieved July 28, 2020.
  6. ^ "U.S. Auto Parts Reports Record Sales for First Quarter 2020". PR Newswire. 6 May 2020. Retrieved May 13, 2020.
  7. ^ "FAQ". CarParts.com. Retrieved January 26, 2022.
  8. ^ "Las Vegas distribution hub to help CarParts.com cut shipping times". Las Vegas Review-Journal. 2019-09-28. Retrieved 2020-05-14.
  9. ^ "Las Vegas distribution hub to help CarParts.com cut shipping times". Las Vegas Review-Journal. 27 September 2019. Retrieved April 12, 2020.
  10. ^ "U.S. AUTO PARTS NETWORK, INC. FORM 10-K". U.S. S.E.C. Retrieved January 26, 2022.
  11. ^ "Carparts.com Scholarship Program". ScholarshipPortal. Archived from the original on 29 September 2020. Retrieved April 12, 2020.
  12. ^ Inc, U. S. Auto Parts Network. "U.S. Auto Parts Appoints Lev Peker to Chief Executive Officer". www.prnewswire.com. Retrieved 2020-05-15. {{cite web}}: |last= has generic name (help)
  13. ^ "U.S. Auto Parts Reports Record Sales for First Quarter 2020". PR Newswire. 6 May 2020. Retrieved January 26, 2022.
  14. ^ "CarParts.com Unveils New Brand Identity that Drives Customer Experience". Bloomberg. 24 February 2020. Retrieved January 26, 2022.
  15. ^ "Large, Troubled Companies Got Bailout Money in Small-Business Loan Program". nytimes.com. Retrieved 28 April 2020.
  16. ^ O'Connell, Jonathan (May 4, 2020). "Small businesses still afloat grapple with whether to accept stimulus funds". Washington Post. Archived from the original on 2020-05-04. Retrieved 2020-05-05.
  17. ^ "Auto aftermarket e-tailer thrives in private label". Store Brands. Retrieved 2020-05-14.
  18. ^ Staff, Speedway Digest. "McDowell to Race with CarParts.com at Darlington". www.speedwaydigest.com. Retrieved 2020-05-14.
  19. ^ "U.S. Auto Parts Network Selected for Russell 2000 Index". Businesswire. 29 June 2020. Retrieved July 28, 2020.
  20. ^ "Nanxi Liu Joins U.S. Auto Parts Network Board of Directors". www.businesswire.com. 2020-07-16. Retrieved 2020-07-16.
  21. ^ "A New Era for JC Whitney". CarParts.com. Retrieved July 20, 2020.
  22. ^ "U.S. Auto Parts Network Is Now CarParts.com". CarParts.com. Retrieved January 26, 2020.
  23. ^ "CarParts.com Reports Record Sales and Gross Profit for Second Quarter 2020". Yahoo! Finance. 11 August 2020. Retrieved August 12, 2020.
  24. ^ "CarParts.com Named 2020's Fastest-Growing Auto Parts Site". Yahoo! Finance. 8 January 2021. Retrieved January 26, 2022.
  25. ^ "Henry Maier, CEO Of FedEx Ground, Joins CarParts.com Board". April 7, 2021. Retrieved April 26, 2021.
  26. ^ U.S. S.E.C. "Form 10-K Carparts.com, Inc. Annual report". U.S. S.E.C. Retrieved January 26, 2022.
  27. ^ "U.S. Auto Parts Reports Fourth Quarter and Full Year 2018 Results". March 7, 2019. Retrieved January 26, 2022.
  28. ^ "CarParts.com Signs Definitive Agreement to Acquire Precise Fuel Pumps from Premium Guard". March 29, 2021. Retrieved April 26, 2021.
  29. ^ "How to Shop". CarParts.com. Retrieved April 12, 2020.
  30. ^ "CarParts.com - About Us". CarParts.com. Retrieved April 12, 2020.
  31. ^ "CarParts.com To Open Sixth Distribution Center In Jacksonville, Florida". PRNewswire. Retrieved January 26, 2022.
  32. ^ "About In the Garage with CarParts.com". In the Garage. Retrieved April 12, 2020.
[edit]
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