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AutoZone motors ahead with inventory investment
The nation’s leading automotive retailer credited investments in inventory and favorable weather with helping it achieve its 33rd consecutive quarter of double digit earnings growth.
The company said sales for its first quarter ended Nov. 22 increased 8 percent to $2.3 billion while same store sales increased 4.5 percent. Profits for the period increased 9.3 percent to $238.3 million while earnings per share advanced 15.6 percent to $7.27 and were aided by the company’s repurchase of 571,000 shares.