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AutoZone Q3 profit beats expectations
Memphis -- AutoZone reported a better-than-expected profit of $309.1 million in its third quarter, up 8.4% from $285.2 million in the year-ago period. Diluted earnings per share increased 13.1% to $9.57 per share, from $8.46 per share in the year-ago quarter. It was the auto retailer’s thirty-fifth consecutive quarter of double digit earnings per share growth.
Sales for the quarter, ended May 9, increased 6.5% to $2.49 billion for the period. Same-store sales increased 2.3%.
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TD Bank to buy Nordstrom’s U.S. credit card portfolio
Seattle -- Nordstrom and Toronto-based TD Bank Group announced an agreement under which TD will acquire Nordstrom's existing U.S. Visa and private label consumer credit card portfolio, which currently totals about $2.2 billion in receivables. Terms of the purchase were not disclosed.
In addition, the two companies have entered into a separate long-term agreement under which TD will become the exclusive U.S. issuer of Nordstrom-branded Visa and private label consumer credit cards to Nordstrom customers.

