AutoZone's Profit, Sales Rise Above Expectations

AutoZone Inc. reported on Tuesday a fiscal second-quarter profit that rose to $211.7 million, or $6.51 a share, from $192.8 million, or $5.63 a share, in the year-earlier period. That beat the FactSet consensus analyst estimate for earnings per share of $6.38. The auto parts retailer said total sales for the quarter ended Feb. 12 rose 7.7% to $2.14 billion, as domestic same-store sales grew 3.6%, topping the FactSet consensus estimates of $2.11 billion and 1.8%, respectively. Inventory rose 12%, as a result of increased product placement, new stores the acquisition of Interamerican Motor Corp., which closed in September 2014. The stock, which wasn't active in premarket trade, has rallied 10% in the past three months, while the S&P 500 has gained 2.1%.