AutoZone misses by $0.39, reports revs in-line
- Reports Q2 (Feb) earnings of $8.47 per share, excluding non-recurring items, $0.39 worse than the Capital IQ Consensus of $8.86; revenues rose 5.4% year/year to $2.41 bln vs the $2.39 bln Capital IQ Consensus.
- For the quarter, gross profit, as a percentage of sales, was 52.9% (versus 52.7% for the same period last year). The increase in gross margin was attributable to lower distribution costs (17 bps) and higher merchandise margins.
- Domestic same store sales, or sales for stores open at least one year, increased 2.2% for the quarter