AutoZone reports strong 1Q sales growth

MEMPHIS, Tenn. AutoZone today reported strong sales across its business categories.

"We were pleased to report record sales and earnings performance for this quarter, as we continued to build momentum with our ongoing efforts to improve the customer shopping experience. With the support of all our AutoZoners, we were able to drive sales increases across each of our strategic priorities: domestic retail, domestic commercial, Mexico and ALLDATA. As our operating model continues to be strong, we will maintain our disciplined approach to growing operating earnings and utilizing our capital effectively," said Bill Rhodes, chairman, president and ceo.

AutoZone reported net sales of $1.5 billion for its first quarter ended Nov. 17, an increase of 4.5% from the same period last year. Domestic same-store sales increased 1.3% for the quarter. Net income for the quarter increased 7% over the same period last year to $132.5 million, while diluted earnings per share increased 17.4% to $2.02 per share from $1.73 per share in the year-ago quarter.