U.S. Auto Parts Network Selected for Russell 2000 Index
TORRANCE, Calif.--(BUSINESS WIRE)-- As of June 26, 2020, the Russell 2000® includes U.S. Auto Parts Network (NASDAQ: PRTS), and its flagship website, CarParts.com as new additions to the index. The company’s inclusion in this influential list is a testament to the company’s rapid growth and its customer and efficiency-focused strategy. The Russell 2000® Index is a capitalization-weighted stock market index maintained by FTSE Russell that benchmarks the U.S. stock market. U.S. Auto Parts Network and its flagship brand CarParts.com qualified for the list following significant growth in market capitalization over the last six months.
"We are proud to be included in the Russell 2000® Index,” said Lev Peker, CEO of U.S. Auto Parts Network. “It serves as proof that our strategy is working. We are excited to expand our company and accelerate our growth. That said, we will never lose what got us here – providing a real value and real convenience to our customers, empowering them to get back on the road.”
To be considered for inclusion on the Russell 2000®, companies are required to meet specific weighted market cap requirements by each evaluation period. These measured qualifications benchmark the performance of smaller, domestically focused businesses. U.S. Auto Parts Network is an automotive and e-commerce company headquartered in Torrance, California. U.S. Auto Parts Network and CarParts.com are the leading online provider of aftermarket auto parts, including collision parts, engine parts, and performance parts and accessories.
Leading asset owners, asset managers, ETF providers and investment banks have trusted FTSE Russell for over 30 years to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management. For more information Russell 2000® Index please visit the FTSE Russell website.
Russell 2000® is a registered Trademark of FTSE Russell.
Established in 1999, CarParts.com is an e-commerce auto parts retailer that specializes in O.E. replacement collision, repair, and maintenance parts. With over 50 million parts delivered, we've helped millions of drivers across the United States find the right parts to fix their cars and keep their vehicles on the road. Our vehicle selector and easy-to-navigate, mobile-friendly website offers customers guaranteed fitment and a convenient online shopping experience. Paired with our 90-day return policy and satisfaction guarantee, CarParts.com makes it easier than ever to get the parts you need delivered straight to your door.
(424) 702-1455 ext. 258
Sean Mansouri, CFA
Gateway Investor Relations
Source: U.S. Auto Parts Network
Released June 29, 2020