Advance Auto Parts 2Q Net Falls On Weaker Sales
Analysts polled by FactSet expected earnings of $1.40 per share on revenue of $1.48 billion.
Revenue at stores open at least a year decreased nearly 3 percent. That's an important measure for retailers because it excludes results from newly opened or closed stores.
Advance Auto Parts lowered its full-year profit forecast from between $5.55 and $5.75 per share to between $5.25 and $5.35 per share. Analysts had expected $5.64 per share on average.
The company, which operates about 3,690 stores in the U.S., Puerto Rico and the Virgin Islands, opened 10 stores during the quarter and 35 stores this fiscal year. It said it remains on pace to open between 120 and 140 stores in fiscal 2012.
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