Advance Auto Parts Inc. (NYSE:AAP) reported weak second-quarter earnings and slashed FY24 outlook on Thursday.

The company reported earnings per share of 75 cents, missing the street view of $1.07. Quarterly sales of $2.683 billion beat the street view of $2.679 billion.

Advance Auto Parts revised its FY24 outlook, lowering its earnings per share forecast to $2.00, $2.50 from the previous range of $3.75, $4.25, which contrasts with the $3.63 estimate. Additionally, the company adjusted its sales projection to $11.15 billion, $11.25 billion, down from $11.30 billion, $11.50 billion, versus the $11.30 billion estimate.

In a separate press release, the company has ...