Automotive parts retailer AutoZone, Inc. (NYSE: AZO) on Tuesday announced financial results for the first quarter of 2024, reporting higher sales and net profit.
The company reported net sales of $4.2 billion for the first three months of fiscal 2024, an increase of 5.1% from the same period of fiscal 2023. Total company same-store sales, or sales at domestic and international stores open at least one year, rose 3.4%.
Q1 net income came in at $593.5 million or $32.55 per share, compared to $539.3 million or $27.45 per share in the corresponding period of last year.
“Our domestic sales results were solid despite tough comparisons from a year ago, while our international business continues to deliver exceptionally strong sales growth. We remain committed to driving sales and earnings growth throughout fiscal 2024 while returning cash to our shareholders,” said Bill Rhodes, AutoZone’s CEO.