() cut its second quarter guidance Wednesday on account of lower sales in June, with shares plunging 16.5 per cent to $80.55 following the announcement.
The automotive specialty retailer reduced its earnings per share outlook for the second quarter to the lower end of its previously announced forecast of $1.13 to $1.17 per share.
This is well below analyst expectations of $1.19 per share.
O?Reilly also decreased its comparable store sales growth forecast from 3 to 5 per cent to between 2 to 2.5 per cent.
"Our previously announced second quarter comparable store sales guidance reflected our slow start to the quarter in April due, we believed, to the shift of some business into the first quarter as a result of the early spring weather in many of our markets, and we expected sales trends would stabilize as the quarter progressed," said O?Reilly?s co-president, Greg Henlsee.
"We saw improved comparable store sales results for the month of May; however, comparable store sales in June were below our expectations."
The company will release second quarter results on July 25.
O?Reilly Automotive is a retailer of automotive parts, tools, supplies, equipment and accessories in the United States. It currently operates 3,809 stores in 39 states.
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