AutoZone (AZO) tops earnings expectations but inflation impacts inventory
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AutoZone 2nd Quarter Same Store Sales Increase 5.3%; EPS Increases to $24.64
February 28, 2023 6:55 AM ESTMEMPHIS, Tenn., Feb. 28, 2023 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $3.7 billion for its second quarter (12 weeks) ended February 11, 2023, an increase of 9.5% from the second quarter of fiscal 2022 (12 weeks). Domestic same store sales, or sales for stores open at least one year, increased 5.3% for the quarter.
We are proud to report solid same store sales growth on top of last years 13.8%. We could not have achieved these results without phenomenal contributions from across the organization. Once again, our AutoZoners efforts generated double digit domestic Commercial growth and single digit... More
