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VOL. 127 | NO. 40 | Tuesday, February 28, 2012

AutoZone Reports 12.7 Pct. Rise in Profit

By Andy Meek

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Memphis-based auto parts retailer AutoZone Inc. reported net income for its second quarter ended Feb. 11 of $166.9 million, a 12.7 percent gain over the same period last year.

Domestic same store sales – a key retail metric that measures growth at sales open at least one year and sets aside the growth coming from new store additions – increased 5.9 percent during the quarter. And diluted earnings increased 24.4 percent to $4.15 per share from $3.34 per share in the year-ago quarter.

It’s the 22nd consecutive quarter of double-digit growth for the company and the 13th straight quarter of more than 20 percent growth in earnings per share.

During the quarter, AutoZone opened 29 new stores in the U.S. and 6 new stores in Mexico. As of February 11, the company had 4,580 stores in 48 states, the District of Columbia and Puerto Rico in the U.S. and 287 stores in Mexico for a total store count of 4,867.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 435 9,569
MORTGAGES 104 511 11,314
FORECLOSURE NOTICES 3 77 1,634
BUILDING PERMITS 196 1,045 20,310
BANKRUPTCIES 44 275 6,437
BUSINESS LICENSES 21 134 3,446
UTILITY CONNECTIONS 33 170 3,983
MARRIAGE LICENSES 30 115 2,179

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