CarParts.com, Inc. $(PRTS)$, a leading eCommerce provider of automotive parts and accessories, reported its first quarter 2025 financial results, showing a decrease in net sales and an increase in net loss compared to the same period last year. Net sales for the first quarter ended March 29, 2025, were $147.4 million, down 11% from $166.3 million in the year-ago quarter. The decline in sales was attributed to soft consumer demand, inclement weather, and continued pressures in lighting and mirrors. The company reported a net loss of $15.3 million, or ($0.27) per share, compared to a net loss of $6.5 million, or ($0.11) per share, in the same quarter last year. Gross profit decreased to $47.3 million from $53.9 million, with a gross margin of 32.1%. CarParts.com also highlighted that its mobile app has reached approximately 900,000 cumulative net downloads and over 5,000 CarParts+ and Roadside Assistance Memberships have been sold year to date. The company is evaluating various strategic alternatives in response to inbound interest and, as a result, is not providing guidance for 2025. As of March 29, 2025, CarParts.com had a cash balance of $38.5 million and no revolver debt.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.