Advance Auto Parts: What Just Happened?!?!

[partsman]

The earnings came out today and the stock dropped... Barron's article: 

link hidden, please login to view

A big earnings missed combined with disappointing guidance have caused shares of

link hidden, please login to view

to lose a fifth of their value this morning.

By Ben Levisohn Aug. 15, 2017 10:19 a.m. ET

Advance Auto Parts (

link hidden, please login to view

) was 

link hidden, please login to view

 heading into its earnings report this morning. Instead, it's stalled once again.

Advance Auto Parts had gained 7% during the past month at the close of trading. but then it released its second-quarter financial results. Advance reported a profit of $1.58 a share, 

link hidden, please login to view

, on sales of $2.26 billion, 

link hidden, please login to view

. And while its same-store sales were flat--beating expectations for a 0.2% second-quarter decline--Advance now expects comparable-store sales to drop between 1% and 3% this year, below expectations for a 0.5% decline.

Guggenheim's Steven Forbes and team explain why they "remain on the sidelines" following Advance's results:

Since our initiation in January, we have believed that simultaneously driving both improved top-line and bottom-line momentum was an overly optimistic outlook given the amount of reinvestment needed to reposition the business for long-term success. In our view, the industry headwinds that have been highlighted by AAP's public peers will only further complicate the margin dynamics associated with the company's recovery. As a result, we remain on the sidelines and await additional color around the impact these headwinds will have on the company's ability to flow-through the productivity initiatives it laid out earlier this year.

Now, shares of Advance Auto Parts are in freefall--and taking its competitors with it. Shares of Advance have plunged 20% to $87.19 at 10:02 a.m. today, while O'Reilly Automotive (

link hidden, please login to view

) has fallen 2.9% to $192.70, and AutoZone (

link hidden, please login to view

) has dropped 3.7% to $505.93.