AutoZone's Profit Rises, Beats Expectations | Fox Business

AutoZone Inc. reported on Tuesday a fiscal third-quarter profit that rose to $309.1 million, or $9.57 a share, from $285.2 million, or $8.46 a share, in the same period a year ago. That beat the FactSet earnings-per-share consensus of $9.52. The automotive replacement parts retailer said sales increased 6.5% to $2.49 billion compared with the FactSet consensus of $2.5 billion, as domestic same-store sales increased 2.3%. Inventory grew 11%, boosted by increased product placement, new stores and the acquisition of IMC. The stock, which was indicated slightly higher in premarket trade, has climbed 11% year to date, compared with a 3.3% gain in the S&P 500.