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AutoZone profit up 9%


Memphis AutoZone said Tuesday its fiscal first-quarter profit rose 9%, as consumers spent more on repairs for their old cars rather than buying new ones.

AutoZone earned $143.3 million in the three months ended Nov. 21, up from $131.4 million in the same period last year.

Revenue climbed almost 8% to $1.59 billion. Same-store sales were up nearly 6%.

AutoZone opened 38 stores in the United States and five in Mexico during the quarter. It had 4,265 stores in the United States and 193 stores in Mexico at the end of the period.

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