Activist investor Legion Partners said Monday in a presentation at the Bloomberg Activism Forum that Advance Auto Parts (AAP), whose sales and share price have lagged peers, should proceed with its divestiture of WorldPac stores to generate $2B-$3B, according to Bloomberg’s Crystal Tse. The auto parts retailer should also improve compensation to better compete with rivals AutoZone (AZO) and and O’Reilly Automotive (ORLY), Bloomberg quotes the activist as having said.
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