=Advance Auto (AAP) reported earnings on Wed 24 May 2017 (b/o)

Advance Auto misses by $0.54, misses on revs; Q1 comps decline 2.7%:

• Reports Q1 (Mar) earnings of $1.60 per share, excluding non-recurring items, $0.54 worse than the Capital IQ Consensus of $2.14; revenues fell 3.0% year/year to $2.89 bln vs the $2.94 bln Capital IQ Consensus.
• Co reports Q1 comps of (2.7%) vs (1.9%) last year.
• "As in the past several quarters, our operating margin reflects our deliberate choices to restore investments in the customer and improve overall service and delivery. In addition to making these critical customer investments, we are increasing and accelerating our initial gross productivity target of $500 million over 5 years to $750 million over 4 years."