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Jim Cramer On Advance Auto Parts Profit Miss

Alex

By Alex
in Advance Auto Parts Forum

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TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said the auto space parts business hasn't declined because of Amazon (AMZN) , as the tech giant has only just moved into the space.

"It's too hard to own anything that's related to auto, auto parts," Cramer still reasoned.

Advanced Auto Parts (AAP) shares crashed 22% on Tuesday amid weak quarterly earnings. Autozone AZO slumped 3% in sympathy. 

All of this begs the question. Should Walmart (WMT) jump into the auto parts space on the cheap to head off Amazon?

"In this sector, companies can exercise considerable pricing pressure over their vendors, which is what Walmart does well. If you have a competence in distribution like Walmart, it can be very successful," Brian Sponheimer, research analyst at Gabelli & Company told TheStreet in a recent interview.

 

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