O'Reilly Automotive Q2 Comps. Up 1.7%; Warns On Q2 Operating Profit

(RTTNews) - O'Reilly Automotive, Inc. (ORLY) announced its 2017 second quarter comparable store sales increase of 1.7%, which fell short of previously issued second quarter comparable store sales guidance of 3% to 5%.

Greg Henslee, O'Reilly's CEO stated, "After exiting the first quarter and entering April on an improved sales trend, we faced a more challenging sales environment than we expected for the remainder of the quarter. 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 from a second consecutive mild winter and overall weak consumer demand."

The company noted that the comparable store sales shortfall will also have a consequent impact on its operating profitability, which it will report in its full second quarter earnings release on July 26th.

Comparable store sales increased 1.7% for the second quarter ended June 30, 2017, on top of 4.3% for the same period one year ago. Comparable store sales increased 1.3% for the six months ended June 30, 2017, on top of 5.1% for the same period one year ago.