Why Autozone Stock Dropped Today
Advance Auto Parts stock plunged 25% today. Is Autozone stock next?
Overview
Shares of car parts retailer Autozone (NYSE: AZO) slipped 4.4% through 12:25 p.m. ET Thursday after its smaller rival Advance Auto Parts (NYSE: AAP) reported stronger-than-expected earnings -- but missed on sales and issued weak guidance this morning.
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Analysts expected Advance Auto Parts to earn $0.81 per share in the quarter, and it beat that number, reporting a $1.03 per share profit. Problem was, Advance's $2 billion in sales fell just short of expectations for $2.04 billion.
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Originally published at www.fool.com.
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