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Auto Parts Retailers Fall Apart After O'Reilly News Sends Stock Crashing

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O'Reilly Automotive Inc. (ORLY) fell 20% on Wednesday and led industry rivals lower after it said its second-quarter comparable store sales rose 1.7%, falling well short of its guidance of 3% to 5%, and announced the release date for its full second quarter 2017 results

"Our second quarter comparable store sales results of 1.7% represent an improvement over our first quarter, but fell below our guidance of 3% to 5%, due to what we believe were continued headwinds. The comparable store sales shortfall will also have a consequent impact on our operating profitability, which we will report in our full second quarter earnings release on July 26th," the company's CEO Greg Henslee said in a press release We3dnesday.

O'Reilly shares fell 20% on Wednesday losing $43 to trade $177.16.

AutoZone (AZO) and Advance Auto Parts (AAP) also fell in early trade, dropping 3% and 5%, respectively.

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