Comparable Sales Put Advance Auto's Stock in Arrears
Advance Auto Parts' (NYSE: AAP) fiscal third-quarter 2019 earnings report wasn't very dissimilar to recent filings: Year-over-year sales were flattish, and net income advanced in the low double-digits. Yet a minor revision to the auto parts retailer's full-year outlook deflated its stock by 7.5% in Tuesday's trading session. Below, we'll review the quarter's details and unravel why a slight recasting of 2019 guidance caused such a tumble in the "AAP" symbol. Note that all comparative numbers that follow refer to those of the prior-year quarter.
Data source: Advance Auto Parts.
Image source: Getty Images.
Source Fool.com
