SPRINGFIELD, Mo., Dec. 15, 2008 (GLOBE NEWSWIRE) -- O'Reilly Automotive, Inc. (the "Company") (Nasdaq:ORLY), announced today that it has been added to the NASDAQ-100 Index(r), effective with the market open on Monday, December 22, 2008. Shares of the Company will also be included in the PowerShares QQQ Trust under the ticker symbol "QQQQ."
Launched in January of 1985, the NASDAQ-100 consists of companies in computer hardware and software, telecommunications, retail/wholesale trade and biotechnology industries. The NASDAQ-100 is based on market capitalization and represents 100 of the largest domestic and international, non-financial companies that are listed on the National Market tier of The NASDAQ Stock Market.
"We are extremely pleased and honored to receive this recognition and to be associated with some of the most elite companies listed on The NASDAQ Stock Market," said Greg Henslee, Co-President and CEO of O'Reilly Automotive. "Becoming part of the NASDAQ-100 reflects the strength and position our Company holds in the automotive aftermarket industry and our future growth opportunities as we continue to integrate CSK Auto and expand the presence of the O'Reilly Auto Parts Brand."
This announcement comes at the end of a milestone year for the Company. On July 11, 2008, O'Reilly acquired CSK Auto, a leading automotive aftermarket retailer in the western United States, which allowed the Company to expand its strong position in the automotive aftermarket industry to a national platform. The integration of CSK Auto is expected to be completed in 2011 and consists primarily of systems, infrastructure, inventory and culture integration. In order to implement the Company's proven dual-market strategy throughout the CSK store network, O'Reilly will add four distribution centers in the western United States. These strategically located distribution centers will provide converted CSK stores same-day or overnight delivery access to over 116,000 SKUs and will give these stores an important tool to provide industry leading customer service to both the professional and do-it-yourself customer. O'Reilly recently signed purchase contracts to acquire facilities located in the metropolitan areas of Los Angeles, California, and Seattle, Washington for the first two of these distribution centers. These distribution centers are new facilities and are approximately 400,000 square feet in size. In addition, the Company is currently evaluating sites for the final distribution centers that will be located in Colorado and Utah.
O'Reilly Automotive, Inc. is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional installer markets. Founded in 1957 by the O'Reilly family, the Company operated 3,277 stores in 38 states, as of September 30, 2008. Additional information about the Company, customer services and online shopping for parts, tools, supplies, equipment and accessories can be found at the Company's website at www.oreillyauto.com.
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