Tuesday, May 26, 2020

AutoZone Q3 tops Street amid ‘most extreme fluctuations’ in sales in its history

Chain Store Age
AutoZone, whose stores remained open during the pandemic, reported third-quarter profit and sales that easily beat expectations helped by stimulus checks that fueled sales late in the quarter.

Net income fell to $342.9 million for the quarter ended May 9, from $405.9 million in the year-ago period.

Sales inched down 0.1% to $2.779, beating estimates of $2.69 billion. Domestic same-store sales fell 1.0%. . . . more