O’Reilly Automotive’s stock sank by 20 percent Wednesday after the auto parts retailer reported weaker-than-expected same-store-sales growth.
Other auto parts retailer stocks also fell sharply.
The company announced comparable-store sales growth of 1.7 percent for the second quarter, below its previous guidance of 3 to 5 percent growth and FactSet’s estimated growth of 3.9 percent. O’Reilly’s stock plunge made it the biggest decliner in the S&P 500 index, and it was on track to be its worst daily performance ever.
