Advance Auto Parts Trims FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Advance Auto Parts Inc. (AAP) trimmed its net sales and comparable store sales guidance for the full-year 2019.

For fiscal 2019, the company now projects net sales in a range of $9.65 billion to $9.75 billion and comparable store sales increase in the range of 1.0 to 2.0 percent.

Previously, the company expected net sales in the range of $9.65 billion to $9.80 billion and comparable store sales increase in the range of 1.0 to 2.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report sales of $9.76 billion for fiscal year 2019. Analysts' estimates typically exclude special items.

Last week, the Company's Board of Directors declared a regular quarterly cash dividend of $0.06 per share, payable on October 4, 2019 to all common shareholders of record as of September 20, 2019.

The Company's Board of Directors also authorized a $400.0 million share repurchase program, which replaced the remaining portion of the Company's $600.0 million share repurchase program that was authorized in August 2018.