AutoZone posts Higher Q3 Profit image

The largest U.S. auto parts retail chain AutoZone Inc reported a 9.3% growth in its third-quarter net income to $248.6 million from last year’s $227.37 million.

Net sales for the recent quarter were $2.11 billion, a 6.7% increase from $1.98 billion in the comparable period, whereas 15 analysts estimated revenues of $2.13 billion for the quarter. Domestic same store sales climbed 3.9% for the quarter.

Shares of Memphis-based AutoZone closed at $368.55 on Monday on the New York Stock Exchange.
In unrelated news, the company last month announced its leading suppliers of the year during the AutoZone Vendor Summit 2012 that was held in Memphis.

The company recognized GRI Engineering Development LLC and Bosch Brake Components as Vendors of the Year.

As of February 11, 2012, AutoZone sells auto and light truck parts, chemicals and accessories through 4,580 AutoZone stores in 48 U.S. states plus the District of Columbia and Puerto Rico, and 287 stores in Mexico.