AutoZone falls on weak sales

Investor's Business Daily

Warm weather cheers many — but means fewer car repairs, which hurt quarterly sales for the nation's largest auto parts and service company. AutoZone's (AZO) fiscal Q1 revenue rose 3% to $1.99 bil, short of analyst views for $2.02 bil. Profit climbed 16% to $5.41, or 2 cents better than expected. CEO Bill Rhodes said although sales "were lower than planned, they were not surprising to us." Rhodes said results improved late in the quarter. AutoZone shares fell 3% to 366.80 .

Rates

View Comments (0)