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Advance Auto Parts stock on track for biggest percentage loss in more than 2 years

advance-auto-parts-stock-on-track-for-biggest-percentage-loss-in-more-than-2-years

Advance Auto Parts Inc. AAP, -9.53% stock is on track for its lowest close since July 1, when it closed at $173.64, and its largest one-day percentage drop since March 20, 2020, when it fell 12.73%. The auto-parts retailer late Tuesday reported mixed second-quarter results and lowered its outlook for the year, saying some of its do-it-yourself business was being pinched by inflation and high fuel prices, which are expected to continue in the second half of the year. Advance Auto Parts shares have lost 26% so far this year, compared with losses of around 13% for the S&P 500 index. SPX, +0.23%

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