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AutoZone motors ahead, comps soften
The nation’s leading auto parts retailer produced modest sales and profit growth during its third quarter but managed to achieve double digit earnings per share growth thanks to stock buyback activity.
AutoZone sales increased 4% to $2.6 billion during the quarter ended May 7, thanks to the addition of new stores and a 2% same-store sales increase. Net income increased 6% to $327.5 million, while earning per share increased 12.6% to $10.77 as the company spent $533 million to repurchase 687,000 shares.
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Amazon ups holiday storage fees
Amazon Marketplace sellers may want to run a little leaner this holiday season.
According to Re/Code, Amazon has notified merchants its third-party Marketplace platform will raise its warehouse storage fees during November and December 2016. The e-tail giant experienced profit-damaging storage space shortages during the 2015 holiday season and is trying to avoid a repeat of the problem.

