Advance Auto Parts: Q2 Earnings Disappoint, Turnaround Isn't Gaining Traction

J. Michael JonesAdvance Auto Parts (NYSE:AAP) surprised the market Thursday with another soft earnings report and big cut to its full-year 2024 guidance. Back in February, I warned that it was too early to buy into the company's projected turnaround. AAP stock is a classic bull and bear debate. Activist investors see the potential in the company with its massive store base, well-known brand, and currently depressed valuation. In theory, if Advance Auto Parts can increase its profit margins to somewhat c ...