Tag: $Autozone

Automotive parts retailer AutoZone missed estimates for first-quarter profit and revenue on Tuesday, hurt by higher raw material prices and a stronger dollar.

Shares of AutoZone Inc. were being driven lower in early Tuesday trading, after the auto-parts retailer reported fiscal fourth-quarter earnings and sales that rose, but not enough to meet expectations, as U.S. results continued to underperform.

AutoZone beat estimates for third-quarter profit on Tuesday, driven by strong demand for automotive parts as more Americans held on to their ageing cars amid higher prices and wait times for newer models.

Automotive parts retailer AutoZone  reported a better-than-expected quarterly profit on Tuesday, helped by a Do-It-Yourself(DIY) trend among customers wanting to keep their older cars on the road.

AutoZone easily beat earnings and sales estimates for its fiscal fourth quarter but the stock was falling after sales in the company’s domestic commercial division came up short.