AutoZone Tops Q4 Expectations

reported stronger-than-expected results for its fiscal fourth quarter on Tuesday. The Memphis, Tennessee-based company reported a quarterly profit of $401.1 million, or $12.75 per share, versus a year-ago profit of $373.7 million, or $11.28 per share. Its revenue climbed 7.9 percent to $3.29 billion. However, analysts were expecting earnings of $12.69 per share on revenue of $3.25 billion. The average estimate among 24 Estimize users was for earnings of $12.68 per share and revenue of $3.25 billion. Domestic same store sales increased 4.5 percent in the quarter. During the quarter, the company opened 72 new stores. Its gross margin increased to 52.5 percent from 52.3 percent. During the quarter, AutoZone repurchased 633 thousand shares of its common stock at an average price of $680 per share. "I would like to thank our entire organization for the strong performance delivered this past fiscal year. We are pleased to report our thirty-sixth consecutive quarter of double digit earnings per share growth. Since our inception, we've been committed to providing exceptional customer service and trustworthy advice; our key point of differentiation. This commitment to our customers leads us to deliver exceptional financial performance," said Bill Rhodes, Chairman, President and Chief Executive Officer. AutoZone shares rose 0.46 percent to close at $728.36 yesterday.