NEW YORK Stocks that are trading heavily or have substantial price changes Wednesday: Foot Locker Inc. , down $7.07 to $16.13. The footwear and clothing retailer slashed its earnings and.
Advance Auto Parts shares have dropped 54% since the beginning of the year. The stock has fallen 66% in the last 12 months. Its CEO has been planning to retire. Its chief financial officer left the North Raleigh-based company on Aug. 18. But on Wednesday morning Advance could be on its way to a rebound.
Price hikes could not offset product costs and supply chain deleverage, Advance Auto says. Advance Auto Parts’ (AAP) second-quarter revenue rose slightly but earnings sank as price increases could not offset higher product costs and supply chain deleverage.For the quarter ended July 15, Advance reported net sales growth of 0.8% to $2.7 billion, which beat analysts’ expectations, and diluted earnings per share down 39.9% to $1.43, which missed expectations.The sales increase was primarily driven