Advance Auto Parts shares were lower Thursday after the company
The stock recovered some of those losses and ended the day down just 0.19 percent.
The auto parts retailer's earnings of $2.51 per share were 9 cents short of estimates, and revenue also missed targets. Comparable store sales fell nearly 2 percent in the quarter, well below analysts' average estimate for a 0.3 percent decline.
Advance Auto pointed to "availability (of auto parts), service shortfalls.....and lower demand due to unfavorable weather during the quarter" for the same-store sales miss. The company now expects same-store sales to decline by 3 to 5 percent in its current fiscal year, revised from a previous forecast for a gain in the low single digits.