By AutoZone, the renowned car parts retailer, has announced its fiscal first-quarter earnings and revenue, surpassing Wall Street expectations. The company reported earnings of $32.55 per share on revenue totaling $4.19 billion. This performance exceeded analysts’ predictions of $31.57 per share on revenue of $4.188 billion.
Comparing these figures to the previous year, AutoZone has made significant progress. In the same quarter last year, the company achieved earnings of $27.45 per share on revenue of $3.99 billion.
AutoZone experienced a growth rate of 1.2% in domestic same-store sales, while a remarkable 25% surge in international same-store sales was observed.
Speaking about these impressive results, Chief Executive Bill Rhodes emphasized the importance of superior service in achieving such financial success. Despite challenging comparisons to the previous year, AutoZone’s domestic sales remained solid. In contrast, their international business continued to exhibit exceptional sales growth.
Although AutoZone stock experienced a slight dip of 0.6%, closing at $2,647.51, this setback should not overshadow the fact that the stock has seen an impressive 8% increase this year.
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