AutoZone’s stock suffers record price plunge after profit and sales miss

AutoZone Inc. suffered its biggest-ever stock price plunge Tuesday, with the auto parts and accessories retailer’s disappointing results prompting a two-notch downgrade from a longtime bull.

The stock AZO, -11.84% tumbled $78.09, or 11.8%, to the lowest close since Jan. 16, 2015. That marks the biggest one-day percentage decline since it fell 12.0% on Nov. 19, 2008. The price decline was the biggest since the stock started trading on April 2, 1991, more than double the previous record selloff of $37.37 on Aug. 21, 2015.

The company reported before the open fiscal third-quarter earnings and revenue that rose less than expected, and same-store sales that declined, against expectations of an increase.

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