Advance Auto Parts posted lower-than-expected second-quarter earnings and sales.
The auto aftermarket parts retailer's adjusted earnings for the quarter came in at $2 a share, which fell short of the $2.22 a share expected by analysts polled by FactSet.
Unadjusted earnings of $1.73 a share, was higher than the year-ago quarter’s $1.59 a share.
Revenue for the quarter was $2.33 billion, lower than analysts' estimate of $2.4 billion. The figure was same as that of the year-ago quarter.
Comparable-store sales were flat.
Looking ahead, Advance Auto Parts lowered its full-year outlook on net sales to between $9.65 billion and $9.75 billion (from prior guidance of between $9.65 billion and $9.8 billion). The company slashed its comparable same-store sales guidance to between 1% and 2% (from prior range of between 1% and 2.5%).