News Column

BRIEF: AutoZone profit rises 7.4% in third quarter

May 27, 2014

The Commercial Appeal, Memphis, Tenn.

May 27--AutoZone Inc. said quarterly income rose 7.4 percent.

The Memphis retailer on Tuesday reported profit of $285.2 million, or $8.46 per share, in the third quarter ended May 10 from $265.6 million, or $7.27 a share, a year earlier.

Revenue rose 6.2 percent to $2.34 billion.

AutoZone chairman Bill Rhodes released a statement saying sales rebounded for deferred maintenance products intended to help consumers catch up with repairs.

Sales in stores open at least one year rose 4 percent during the quarter.

The auto-parts retailer said 30 new stores were opened during the quarter in the United States, along with seven in Mexico.

AutoZone now operates 4,901 U.S. stores, 374 in Mexico, and four in Brazil.


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Source: Commercial Appeal (Memphis, TN)

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