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AutoZone Q4 profit up 14.7%
Memphis -- AutoZone’s net income for the fourth quarter increased 14.7% to $371.2 million, below estimates. The chain also posted its 28th consecutive quarter of double digit growth in earnings per share.
Revenue rose 12% to $3.1 billion, narrowly exceeding expectations. Domestic same-store sales disappointed with a 1% gain.
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AutoZone same-store sales lower than expected
Domestic same-store sales at AutoZone for the fourth quarter ended Aug. 31 increased 1% — below expectations. The company did have reason to ride high, however, because it also posted its 28th consecutive quarter of double digit growth in earnings per share.
Diluted earnings per share increased 23.2% to $10.42 per share from $8.46 per share in the year-ago quarter. Moreover, net sales were $3.1 billion for the quarter, a 12% jump from the same quarter last year.