VOL. 126 | NO. 237 | Tuesday, December 6, 2011
AutoZone Stays in Fast Lane With Q1 Profit
By Andy Meek
AutoZone Inc. posted a fiscal first quarter profit of $191.1 million Tuesday, Dec. 6, up $19 million – or 11.1 percent – over the same period last year.
Earnings per share increased 24 percent to $4.68 from $3.77 during the year-ago quarter. That marks the Memphis-based auto parts retailer’s 12th straight quarter of at least 20 percent earnings per share growth and the 21st straight quarter of double-digit EPS growth.
Domestic same-store sales – sales at stores open at least one year – increased 4.6 percent for the quarter. Also during the quarter, AutoZone repurchased 954,000 shares of its common stock for $310 million, leaving $659 million remaining under its current share repurchase authorization.
The Daily News will have a more extensive report about the company’s quarterly performance later today and in the Wednesday, Dec. 7, print edition.