Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported first-quarter sales of $4.6 billion, a 17 percent increase compared to the same period a year ago. Profit was $176.6 million.
Automotive Group sales increased 29.6 percent during the quarter, and Industrial Group sales, which includes distributors Motion Industries and EIS, rose 8.3 percent. Sales for the company’s Business Products Group were down 4.8 percent for the quarter.
Genuine Parts announced earlier this month the spin-off of its Business Products Group, S.P. Richards, which will merge with industry giant Essendant Inc.