AutoZone’s stock sinks toward 7-month low after rival Advance Auto Parts’ disappointing results, dividend cut

📆 5/31/2023 3:49 PM
📰 MarketWatch

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Shares of AutoZone Inc. sank 6.4% toward a 7-month low in premarket trading Wednesday, in the wake of a disappointing earnings report from rival auto parts...

Shares of AutoZone Inc. AZO sank 6.4% toward a 7-month low in premarket trading Wednesday, in the wake of a disappointing earnings report from rival auto parts seller Advance Auto Parts Inc. AAP, which included cuts to its full-year guidance and its dividend amid a competitive pricing environment. AutoZone had reported last week a quarterly profit beat but sales that missed, citing weaker-than-expected March sales.

4% toward a 7-month low in premarket trading Wednesday, in the wake of a disappointing earnings report from rival auto parts seller Advance Auto Parts Inc. AAP , which included cuts to its full-year guidance and its dividend amid a competitive pricing environment. AutoZone had reported last week a quarterly profit beat but sales that missed, citing weaker-than-expected March sales.

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Advance Auto Parts stock plunges after big profit miss, dividend slashed and full-year outlook cutShares of Advance Auto Parts Inc. plunged 20.9% toward a three-year low in premarket trading Wednesday, after the autoparts seller reported a big fiscal...
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