Automotive replacement parts retailer AutoZone, Inc. (AZO) reported Tuesday that net income for the first quarter decreased to $539.32 million or $27.45 per share from $555.24 million or $25.69 per share in the year-ago quarter.
Net sales for the quarter grew 8.6 percent to $3.99 billion from $3.67 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $25.27 per share on revenues of $3.86 billion for the quarter. Analysts' estimates typically exclude special items.
Domestic same store sales, or sales for stores open at least one year, increased 5.6 percent for the quarter.
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