- AutoZone (NYSE:NYSE:AZO) reports domestic same-store sales rose 2% in FQ3.
- Total auto parts sales expanded 4.1% to $2.5B.
- Total domestic commercial sales increased 6.5% to $481.44M.
- Gross profit rate improved 50 bps to 52.8% due to higher merchandise margins.
- Operating expense rate expanded 60 bps to 32.2% due to higher legal expense and store payroll.
- Inventory +3.7% Y/Y to $3.6B.
- Domestic store count +157 Y/Y to 5,226.
- Store count +205 Y/Y to 5,717.