Download the full 2Q22 Advance Auto Parts report for more insight into recent corporate performance.
Lower income earners’ spending at Advance Auto Parts (AAP) fell twice as fast as mid and higher earners in 2Q22 according to Earnest Research income data. AAP management corroborated the data point as they noted “significant inflation [and] rising fuel prices, which really pressured lower-income consumers and caused them to make some choices on discretionary purchases” in their 2Q22 earnings call.
AAP is one of multiple retailers citing growing inflation on topline sales in 2022. Download the full report for more.