Springfield-based O’Reilly Automotive Inc. (Nasdaq: ORLY) has expanded into Puerto Rico.
The auto parts retailer yesterday held ribbon-cutting ceremonies for its first distribution center and two retail stores in the country, according to a news release.
The Puerto Rico distribution store connects to a store in Bayamón, a suburb of San Juan. The facility spans 128,000 square feet in warehouse and office space. The other store is about an hour west in Hatillo.
“This expansion would not be possible without the outstanding dedication of our team members,” said Greg Johnson, O’Reilly CEO, in the release. “We’re known for our teamwork and enthusiasm, so it was no surprise to me how excited our team members were to bring our services to a new area, with many traveling to the island to help with training and setup."
Brad Beckham, O'Reilly co-president, said in a video post that there are "a lot of other stores planned" in the U.S. territory.
To start the year, the company's first-quarter profits rose 7.3% to $516.9 million, and revenue jumped 12.5% to $3.7 billion year over year, according to past reporting.
ORLY shares were trading at $945.18 as of 9:21 a.m., compared with a 52-week range of $567.67 to $964.58 per share.
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