20/08/2014 12:19:34 Free Membership Login

AutoZone 1st-Quarter Profit Rises 6.4% on Auto-Parts Sales Growth

Date : 12/04/2012 @ 6:25PM
Source : Dow Jones News
Stock : Autozone, Inc. (AZO)
Quote : 536.84  2.94 (0.55%) @ 1:35AM
Autozone share price Chart

AutoZone 1st-Quarter Profit Rises 6.4% on Auto-Parts Sales Growth

Autozone (NYSE:AZO)
Historical Stock Chart

2 Years : From Aug 2012 to Aug 2014

Click Here for more Autozone Charts.
   By Tess Stynes and Ben Fox Rubin 
 

AutoZone Inc.'s (AZO) fiscal first-quarter earnings rose 6.4% as the company saw continued sales growth in its auto-parts and domestic commercial businesses, though same-store sales growth weakened.

The company also said it agreed to buy AutoAnything, an online retailer of specialized automotive products, for an undisclosed amount.

The largest auto-parts retailer in the U.S. has seen its performance benefit from the addition of new stores in the U.S. and Mexico and a growing commercial business. The company recently embarked on a plan to enter the Brazilian market--the fourth-largest auto market in the world--where it plans to open as many as 15 stores over the next few years.

In the latest quarter, domestic same-store sales edged up 0.2%, its lowest growth rate in years.

For the quarter ended Nov. 17, AutoZone reported a profit of $203.5 million, or $5.41 a share, up from $191.1 million, or $4.68 a share, a year earlier.

Revenue grew 3.5% to $1.99 billion.

Analysts polled by Thomson Reuters most recently projected earnings of $5.39 on revenue of $2.03 billion.

Gross margin rose to 51.8% from 51.1%, as lower acquisition costs and lower shrink expense pushed up merchandise margin, the company said.

Auto-parts sales rose 3.4% to $1.95 billion, while commercial sales rose 12% to $306.1 million.

Shares closed Monday at $378.01 and were inactive premarket. The stock is up 16% so far this year.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 in 140820 12:19