O’Reilly Automotive stock crashed as much as 21% on 7 times its average daily volume, its biggest drop since June 2012 dragging the share price to the lowest since October 2014, after the auto-parts retailer said same-store sales misses forecast for the second quarter.
The miss slammed ORLY peers: Advance Auto Parts plunged 16%, AutoZone tumbled 10%, while suppliers Standard Motor Products, Dorman Products and Motorcar Parts of America also dropped sharpdly.
Investors were disappointment as same-store sales rose only 1.7% in Q2, trailing O’Reilly’s own projection for growth of 3-5%, the company said in a statement earlier.
This post was published at Zero Hedge on Jul 5, 2017.
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