The expanded warehouse footprint will increase CarParts.com's distribution center network to over 1 million square feet. It will allow the company to add 125 full-time positions to its Grand Prairie location when fully operational in Q1 2022.
The company will also open a call service center at the location, offering a convenient pick-up option for both online and commercial customers in the area.
This expansion will increase inventory for brand partners and create more space for CarParts.com's premium brands like TrueDrive, DriveWire, DriveMotive, JC Whitney, and the SureStop brake product line.
The company held cash and equivalents of $45.9 million as of April 3, 2021.
Price action: PRTS shares traded higher by 1.78% at $17.70 in the market session on the last check Wednesday.
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