Consumers adjust to inflation as labor market expectations worsen. Consumer sentiment was essentially unchanged from June, when it had reached an all-time low for the survey, according to the University of Michigan Surveys of Consumers. Most components of the index were little changed, though buying conditions for durables adjusted upwards, primarily due to perceptions of […]
Randy Termeer Named President of Property and Casualty Insurance at USAA
USAA announced that Randy Termeer has been named President, Property and Casualty Insurance. Termeer joined USAA in 2017 as Senior Vice President and General Manager of Auto Insurance. Most recently, he led USAA’s acquisition of Noblr, launched Small Business Insurance and the SafePilot program. Termeer brings more than 20 years of industry experience to the […]
SCRS Announces KECO Donation to Collision Repair Schools in Montana and Illinois
During its April 2022 Open Board Meeting, the Society of Collision Repair Specialists (SCRS) announced a collaboration with KECO Body Repair Products to gift a tool and training package to one collision industry educational institution per quarter. Schools are nominated by SCRS Affiliate Associations. The affiliates were encouraged to nominate schools in their market that […]
LKQ Reports Revenue of $3.3 Billion in Second Quarter
Wholesale North America organic revenue for parts and services was 10.7% Overall parts and services organic revenue growth was 3.8% overall and 4.2% on a per day basis. LKQ Corporation (NASDAQ:LKQ) today reported revenue for the second quarter of 2022 was $3.3 billion, a decrease of 2.7% as compared to $3.4 billion in the second […]
CARSTAR Adds Collision Repair Center to Network in Georgia
CARSTAR announced the opening of CARSTAR Car Crafters, a 14,000 square foot facility located at 80 Scenic Drive in Blue Ridge, Ga. Jeff Beavers, owner of CARSTAR Car Crafters, began his career in the collision repair industry at the age of 18. However, he grew up around cars as his father spent his free time […]
Driven Brands Acquires Jack Morris Auto Glass
Driven Brands Holdings Inc. (NASDAQ:DRVN) the acquisition of longstanding Tennessee-based Jack Morris Auto Glass. Family-owned and operated since 1951, Jack Morris Auto Glass grew from one location in Downtown Memphis to 10 facilities serving 90 counties throughout the Mid-South and Middle Tennessee. “To build and sustain a business through multiple generations is no easy feat,” […]
IAA Opens New Hawaii Branch
IAA, Inc. (NYSE:IAA) announced the opening of new, full-service facility in Honolulu, Hawaii. This new location more than triples IAA’s capacity in the state, providing support to meet evolving client needs. IAA’s previous Honolulu location will be retained for overflow use and is also available for critical CAT situations as they arise. “We are thrilled […]
Lemonade Completes Acquisition of Metromile
Lemonade (NYSE:LMND) announced the closing of its previously announced acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million LMND shares, while Lemonade received a business with over $155 million in cash, over $110 million in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in harnessing precision data for auto […]
Axalta Reports Sales Up 9.6% in Second Quarter Compared to 2021
Refinish sales increased 6% to $491.1 million. Announces CEO transition. Axalta Coating Systems Ltd. (NYSE:AXTA) announced its financial results for the second quarter ended June 30 as well as the departure of CEO Robert Bryant at the end of August. The company reported that second quarter net sales were $1,234.9 million, an increase of 9.6% […]
Driven Brands Reports Second Quarter Revenue of $508.6 Million, Up 35% Versus Last Year
Driven Brands Holdings Inc. (NASDAQ: DRVN) today reported revenue was $508.6 million for its second quarter ended June 25, an increase of 36% versus the prior year. System-wide sales were $1.4 billion, an increase of 22% versus the prior year, with 7% net store growth and an increase in consolidated same-store sales of 13.2%. The […]
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