Advance Auto Parts Sales Gains Slow to a Crawl
Advance Auto Parts (NYSE: AAP) had a sluggish finish to its 2019 fiscal year. The leading auto parts retailer on Tuesday announces surprisingly weak fourth-quarter sales results while issuing a mixed outlook for 2020.
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Sales gains at existing stores, or comps, slowed to a flat result in the quarter, compared to 1.2% in the prior quarter. The sluggish result surprised management, who cited a "challenging demand environment" in a press release to investors. Comps landed at 1.1% for the full year compared to over 2% in 2018.
Source Fool.com
