AutoZone income tops estimates despite "tough" annual U.S. sales comparison
Investing.com -- AutoZone (NYSE:AZO) has reported better than anticipated first quarter earnings as the retailer of aftermarket vehicle parts said U.S. same-store sales were resilient in the face of "tough" annual comparisons.
Income per-share at the Tennessee-based group jumped by 18.6% during the twelve weeks ended Nov. 18 to $32.55, topping Bloomberg consensus estimates of $27.45. Net sales also grew to $4.19 billion, a year-on-year increase of 5.1%, in line with expectations.
"Our domestic sales results were solid despite tough comparisons from a year ago, while our international business continues to deliver exceptionally strong sales growth," said Chief Executive Officer Bill Rhodes in a statement.
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