RBC Elements™: Auto Parts Retail Weather Tracker

研报英文原文证据摘录

RBC Elements™: Auto Parts Retail Weather Tracker

RBC Capital Markets, LLC

Steven Shemesh (Analyst)

(212) 428-2390,

steven.shemesh@rbccm.com

Harshi Rasania (Senior

Associate)

(212) 299-9859,

harshi.rasania@rbccm.com

June 9, 2026 Joshua Thornton (Associate)

(917) 891-0802,

joshua.thornton@rbccm.com RBC Elements™: Auto Parts Retail Weather TrackerRESEARCH May'26: Precipitation Down Y/Y, But Still Wet; June Forecast Warm +

Dry

Our view: Throughout the month of May, total precipitation levels (inches/day) across all 3 retailers

were on average ~22% lower y/y with ~24% less rainy days (~14% less weekend rainy days) and average

temperatures roughly flat y/y. Despite a sizable decrease y/y, overall precipitation levels were in-line

with the LT average for the month. We note that AZO (reported F3Q 5/26) pointed to May softness driven

by unseasonably cool weather, weighing on heat-related categories. Looking at Apr/May together, totalEQUITY precipitation levels (inches/day) were on average ~15% lower, with ~10% less rainy days (~2% more

weekend rainy days) and average temperature up ~1%. Looking ahead to June, NOAA is forecasting

above-average temperatures throughout most of the country (Midwest in particular), with near-normal

precipitation levels (below in Southeast, above in Midwest).

Analysis explained: In partnership with the RBC Elements data science team, we’ve created a tool to

monitor weather trends at the zip-code level surrounding ORLY, AAP, and AZO (not covered) stores.

The tool tracks daily temp/precip data around each retailer’s specific store base and then aggregates

monthly outputs to help identify precise idiosyncratic differences. The tool also has the ability to

disaggregate weekend weather, enabling us to quantify the number of stores that experienced weekend