After missing analysts' expectations in its latest quarterly report, shares of Advance Auto Parts Inc.'s (NYSE:AAP) got hammered on Thursday, closing down over 10 percent.
Also dragged down by the disappointing performance were competitors AutoZone Inc. (NYSE:AZO), Midas Inc. (NYSE:MDS), O'Reilly Automotive Inc. (NASDAQ:ORLY) and Standard Motor Products Inc. (NYSE:SMP).
For its fiscal first quarter, Advance did increase its profits slightly by 0.1 percent, and new stores were able to generate decent revenue. But same-store sales is what weighed on the company, as they dropped for the quarter.
Advance closed Thursday at $63.49, plunging $7.17, or 10.15 percent.
AutoZone closed at $277.15, falling $5.35, or 1.89 percent. Midas ended the session at $6.10, dropping $0.14, or 2.24 percent. O'Reilly Automotive Inc. closed at $58.59, down $1.60, or 2.66 percent. Standard Motor Products Inc. closed at $13.73, falling $0.98, or 6.66 percent.
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