O’Reilly has purchased a 580,000-square-foot facility in Horn Lake, Mississippi, to serve the Memphis market and support store growth in the central and southern states.
O’Reilly expects to invest between $625 million and $675 million on capital expenditures (cap-ex) in 2019, up from $504.3 million in 2018.
“We expect DIY ticket counts to continue to be under pressure … ” O’Reilly CEO and Co-President Greg Johnson said during the company’s Feb. 6 conference call.
O’Reilly reported full-year sales of $9.5 billion, up 6 percent from 2017. Operating income was $1.8 billion, up 5 percent from the prior year.
While the S&P 500 fell 6.2 percent in 2018, Advance Auto Parts and O’Reilly Automotive were among two of the index’s biggest gainers.