O'Reilly Auto Parts

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O'Reilly Automotive, Inc.
Type Public
Traded as NASDAQORLY
S&P 500 Component
Industry Retail
Founded November 1957 (1957-11)
Headquarters Springfield, Missouri, United States
Number of locations 4,100 (January 2013)[1]
Products Auto parts
Revenue
  • Increase US$ 6,649.237 million (2013) [2]
  • Increase US$ 6,182.184 million (2012) [2]
Operating income
  • Increase US$ 1,103.485 million (2013) [2]
  • Increase US$ 977.393 million (2012) [2]
Net income
  • Increase US$ 670.292 million (2013) [2]
  • Increase US$ 585.746 million (2012) [2]
Total assets
  • Increase US$ 6,067.208 million (2013) [3]
  • Increase US$ 5,749.187 million (2012) [2]
Total equity
  • Decrease US$ 1,966.321 million (2013) [3]
  • Decrease US$ 2,108.307 million (2012) [2]
Website www.oreillyauto.com

O'Reilly Automotive, Inc., is a publicly traded chain of auto parts stores that started with one store in Springfield, Missouri, in 1957. It has since grown to include more than 4,100 stores in 42 U.S. states. The corporation is headquartered in Springfield.[4]

History[edit]

An O'Reilly Auto Parts store in Ypsilanti, Michigan

The company officially started in the auto parts business in Springfield, Missouri, in November 1957, but its roots are earlier. The company's history began with Charles Francis O'Reilly, a traveling salesman for Fred Campbell Auto Supply in St. Louis, Missouri. By 1924 Charles had become familiar with the Springfield area, having traveled by train to sell auto parts throughout the territory. He recognized the region as an area of growth and opportunity, and asked to be transferred there. By 1932 he had become manager of Link Motor Supply in Springfield. One of his sons, Charles H. "Chub" O'Reilly, had also joined the company. Together they provided the leadership and management that made Link the predominant auto parts store in the area.

In 1957, Link planned a reorganization, which would have included the retirement of 72-year-old Charles F. O'Reilly, and the transfer of C. H. O'Reilly to Kansas City. Since neither agreed with these plans, they made the decision to form their own company, O'Reilly Automotive, Inc. They started in November 1957 with one store and 13 employees at 403 Sherman in Springfield. Their sales totaled $700,000 in 1958, their first full year of business. The business grew and prospered from its very first year

By 1961, the company's volume had reached $1.3 million, a figure which incudes Ozark Automotive Distributors, a division formed to serve independent automotive jobbers in the area. In March 1975, annual sales volume had risen to $7 million and a modern, 52,000-square-foot (4,800 m2) facility at 233 S. Patterson Ave. was built for the O'Reilly/Ozark warehouse operation. By that time, the company had a total of nine stores, all located in the southwest Missouri area.

Expansion[edit]

On April 23, 1993, the company completed an Initial Public Offering of common stock, and it now trades in the NASDAQ system under the symbol ORLY. In addition to stock for sale to the general public, the company also has a stock purchase plan to enable as many team members as possible to own stock in the company.

On January 30, 1998, O'Reilly merged with Hi/LO Auto Supply, adding 190 auto parts stores in Texas and Louisiana, as well as a distribution center in Houston, Texas. The Hi/LO acquisition made O'Reilly one of the top ten auto parts chains in the country. On April 25, 2000, the firm announced the purchase of KarPro Auto Parts, which includes a 66,000-square-foot (6,100 m2) distribution center in Little Rock, Arkansas, and 14 KarPro stores.

On October 1, 2001, O'Reilly purchased Mid-State Automotive Distributors, Inc., adding 85 auto parts stores in Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, and Tennessee, as well as four distribution centers in Nashville, Knoxville, Chattanooga, and Pensacola. The acquisition made the firm one of the top five auto parts chains in the country. It added its eleventh distribution center, in Atlanta, Georgia, in March 2005. Today, it has more than 4,000 stores in 42 states. Total sales were $4.8 billion for the year ending 2009. Executive officers of the company include David O'Reilly, chairman of the board; Gregory L. Henslee, chief executive officer and co-president; Ted Wise, chief operating officer and co-president; and Tom McFall, executive vice-president and chief financial officer.

On May 2, 2005, O'Reilly purchased Midwest Automotive Distributors, Inc., adding 71 retail locations in Minnesota, Montana, North Dakota, South Dakota, Wisconsin, and Wyoming, as well as two distribution centers located in St. Paul, Minnesota, and Billings, Montana. On July 11, 2008, the company completed the biggest acquisition in its history with the purchase of CSK Auto.[5][6] This, combined with past acquisitions, made O'Reilly the third largest auto parts chain in the country after Advance Auto Parts and AutoZone.

In December 2012 O'Reilly announced that it was purchasing the auto parts business of VIP Parts, Tires and Service, a Lewiston, Maine-based chain of 56 auto parts stores and service centers with locations in Maine, New Hampshire, and Massachusetts. The purchase marked the firm's expansion into New England.[7]

References[edit]

Notes
  1. ^ "O'Reilly Automotive, Inc. Celebrates the Opening of Its 4,000th Store". Auto Service World. 2013-01-21. Retrieved 2013-01-22. 
  2. ^ a b c d e f g h "O REILLY AUTOMOTIVE INC 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 28, 2014. 
  3. ^ a b "O REILLY AUTOMOTIVE INC 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. May 9, 2014. 
  4. ^ "Help Desk: Contact Us." O'Reilly Auto Parts. Retrieved on July 9, 2010.
  5. ^ "O'Reilly Automotive to Buy CSK Auto for $528 Million". Bloomberg. April 1, 2008. 
  6. ^ Bond, Andrew (April 29, 2011). "Can O'Reilly Keep Its Growth Up?". The Motley Fool. 
  7. ^ O'Reilly purchasing VIP Auto's parts assets Tire Business, December 18, 2012
Bibliography

External links[edit]