GPC
#Welcome.
Well, my understanding of the question on the trends was more product oriented.
And that's where I think we have stabilized in particular product categories.
In terms of the impact of Easter, we should see the benefit of that in April.
We should pick up a little bit more in April that we gave back in March.
Well, we'll see how it all shakes out, and we'll give you an update on it in our second quarter conference call.
So you're correct, when we look at gross margin, the other three segments are fine.
The pressure on gross margin was through Industrial, and so a lot of our initiatives are in place.
And I should mention, Industrial has done a really good job.
Their core gross profit was up in Q4, and was also up in Q1.
So they've done a lot of things on the buy side and sell side to help get that up.
So when the volume does come back, and it probably needs to be more in the very low single-digit range for us to get some of that volume incentive back, that's going to really go straight to the margin.
So the good thing is, they're SG&A improvements and they're core gross profit, those things are already in place.
And when we do get just a little bit of volume back in the top line growth, then we'll see that on their operating margins.
Thank you.
Hello, <UNK>.
So all of our businesses have initiatives in the working capital, and specifically focused in the payables area.
So while I would say just more of the majority of the dollars are coming from Automotive, we do have improvement coming from the others.
And I can tell you their teams, it's baked into our pay plans, it's part of all ---+ everybody's performance.
It's part of what everybody is pushing down, is working capital initiatives.
And we are seeing some improvements in the non-automotive as well.
So the idea is that we have just continued improvements each quarter.
But again, it's more coming from Automotive, but we're getting some of from the others too.
Yes, <UNK>, so I'll answer that two ways.
On the brakes business, our brakes business has been solid now for a number of quarters in a row, and that's across all the brakes.
So that's rotors and friction and calipers have been all outpacing our overall growth.
And I think it's just a great job by our team out in the field grabbing some market share, and we got a great partner on that side.
If you will recall, <UNK>, a year ago on the chassis side, we were having some significant service issues.
And pleased to report those are now behind us, and we're seeing that business return back to more normal growth rates.
But we were down quite a bit early last year as a result of some of the service problems.
So again, that's a business we ought to do quite well throughout the first half of the year.
Thank you, <UNK>.
We thank you for participating on today's first quarter call, and we appreciate your support of Genuine Parts Company, and we look forward to updating you in July on our second-quarter results.
Thank you.
