By Yasin Ebrahim

Investing.com — Advance Auto Parts reported quarterly results that fell just short of Wall Street estimates as tougher comparatives and a slower start to the spring selling season weighed on growth. 

Advance Auto Parts After-hours trading saw a drop of 3% for (NYSE:).

Auto Parts first-quarter EPS of $3.57 on revenue of $3.37 billion, missing Wall Street estimates of $3.58 per share on revenue of $3.38 billion.

“We experienced comp declines during the last six weeks of quarter due to our DIY omnichannel company, […]”This is primarily due to headwinds from DIY sales boost from the 2021 stimulus as well as slower spring selling seasons because of cooler temperatures and greater precipitation,” said the company. 

Comparable store sales rose 0.6%

In the future, the company reiterated its optimism for the entire year.

“Based on our Q1 results and 2022 outlook, we’re reaffirming our 2022 guidance including comparable store sales growth, adjusted operating margin expansion and double-digit adjusted earnings per share growth,” the company said.