AutoZone, Inc. (AZO), a leading retailer and distributor of automotive replacement parts and accessories, reported mixed fiscal 2024 third-quarter results. The company posted revenue of $4.23 billion, an increase of 3.5% compared to the third quarter of 2023. However, domestic same-store sales growth decelerated from 0.3% in the prior quarter to flat in the third quarter.
During the quarter, the company’s gross profit, as a percentage of sales, came in at 53.5%, 102 basis points higher than in the prior year’s period. AZO reported an EPS of $36.69, surpassing the analysts’ estimate of $35.96.
