Shares of auto parts retailers were headed for sharp losses Wednesday, after rival O’Reilly Automotive Inc. reported disappointing second-quarter sales, with particular weakness during the last two months. O’Reilly’s stock tumbled 8.4% ahead of the open, toward a near 2 1/2-year low. Among the company’s rivals, shares of Advance Auto Parts Inc. dropped 7.1%, on track to open at a near 3 1/2-year low. AutoZone Inc.’s stock shed 3.8% premarket toward the lowest open since October 2014, while Genuine Parts Co. shares slipped 1.8%.
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