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AutoZone Profits Grow as Sales Climb
MEMPHIS, Tenn. (AP) -- Auto parts retailer AutoZone says its fiscal first-quarter profit rose 9 percent as strapped consumers spent more money repairing their old cars instead of buying new ones.

The company earned $143.3 million, or $2.82 per share, in the three months ended Nov. 21. That's up from $131.4 million, or $2.23 per share, in the same period last year.

Revenue climbed almost 8 percent to $1.59 billion.

Analysts surveyed by Thomson Reuters expected profit of $2.66 per share on $1.59 billion in revenue.

The company says its sales at stores open at least a year rose almost 6 percent during the quarter. The measurement is considered a key performance indicator for retailer because it measures growth from existing stores rather than newly opened ones.

AutoZone Inc. is based in Memphis, Tenn., and has stores in Galesburg and Monmouth, among others in the area.

(Copyright 2009 by The Associated Press. All Rights Reserved. WGIL News contributed to this report.)
12 08 09 by Newsroom
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