Automotive parts retailer AutoZone, Inc. (NYSE: AZO) on Tuesday said its third-quarter net sales and earnings increased modestly from last year.
The company reported net sales of $4.24 billion for the third quarter, an increase of 4% from the same period of fiscal 2023. Total same-store sales, or sales at domestic and international stores open at least one year, moved up 1.9%.
Net income came in at $651.7 million or $36.69 per share in Q3, compared to $647.7 million or $34.12 per share in the corresponding period of last year.
“Domestically, our sales performance was negatively impacted at the start of the quarter due to the timing of tax refunds while the cooler-than-usual weather across several areas of the country negatively impacted our results later in the quarter. Conversely, we were pleased with the strong same-store sales results we achieved in our international business,” said Phil Daniele, CEO of AutoZone.