UPDATE 1-Asbury earnings hurt by cuts in used car stores

Newswire

(Recasts lead, adds details, outlook) DETROIT, July 31 (Reuters) - Auto dealer Asbury Automotive Group Inc. on Thursday posted lower quarterly earnings, due to the costs of closing some used car operations, including its Wal-Mart pilot project. The Stamford, Connecticut-based company said second-quarter net earnings fell to $12.3 million, or 38 cents per share, from $12.8 million, or 37 cents per share, in the year-ago quarter. Asbury earlier this month said it would stop selling used ...

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