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Why Advance Auto Parts Stock Just Crashed 16%

TheMotleyFool

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Advance Auto Parts (NYSE: AAP) stock tumbled 15.8% through 10:35 a.m. ET after the company beat on sales but missed on earnings in its latest earnings release Thursday morning.

Heading into the fiscal second-quarter results, analysts forecast the automotive parts retailer would earn $0.94 per share on just under $2.7 billion in sales in the period ended July 13. Advance Auto Parts nailed the sales target, but whiffed on profits, reporting just $0.75 per share.

How did that happen? Well, starting on the top line, things didn't look too bad. Sales declined year over year, but only by a fraction of 1%.

Source Fool.com

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