Hold AAP by Nov 30, 2026.

Big drop in a stock that has been dragging the last year. This situation has quite a different profile that FISV which I also wrote about today. AAP sold a large wholesale business to Carlyle in 2024. This resulted is dramatically higher gross profit margin. Revenue growth is stagnant TTM. More than 10% of the store base has been closed or sold. These were underperforming stores, many in highly competitive CA. There is no reason to rush into the stock …