UPDATE 1OReilly Auto Q4 samestore sales below plans
(Adds full-year figure, earnings release date)
NEW YORK, Jan 9 (Reuters) - Auto parts retailer O’Reilly
Automotive Inc. (ORLY.O: Quote, Profile, Research) on Wednesday said same-store sales
were lower than expected during the holiday shopping season
because of a slower economy.
The company said sales at stores open at least one year
rose 2.1 percent in the fourth quarter. The company had
previously forecast same-store sales growth of between 4
percent and 6 percent.
“Sales for the first half of the fourth quarter were in
line with our estimates for the quarter but fell below
expectations during the holiday shopping season,” said Chief
Executive Greg Henslee.
“We believe consumers continue to be negatively impacted by
economic pressures and continue to defer discretionary
maintenance on their vehicles.”
O’Reilly said its full-year same-store sales rose 3.7
percent, compared with its forecast of 4 percent to 4.5 percent
growth.
It plans to release its fourth-quarter earnings on Feb.
19.
(Reporting by Michael Erman; Editing by Gary Hill)
