{"id":63105,"date":"2023-09-19T16:42:53","date_gmt":"2023-09-19T20:42:53","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/autozone-stock-drops-as-domestic-commercial-disappointment-offsets-international-strength-and-profit-and-sales-beats\/"},"modified":"2023-09-19T16:42:56","modified_gmt":"2023-09-19T20:42:56","slug":"autozone-stock-drops-as-domestic-commercial-disappointment-offsets-international-strength-and-profit-and-sales-beats","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=63105","title":{"rendered":"AutoZone stock drops, as domestic commercial disappointment offsets international strength and profit and sales beats"},"content":{"rendered":"
\n

Shares of AutoZone Inc.
\n AZO,
\n -1.86%<\/bg-quote>
\n dropped 1.8% in premarket trading Tuesday, are the auto parts retailer reported fiscal fourth-quarter earnings that beat expectations, while the domestic commercial business fell short of forecasts. Net income for the quarter to Aug. 26 rose to $864.89 million, or $46.46 a share, from $810.0 million, or $40.51 a share, in the year-ago period. The FactSet consensus for earnings per share was $45.17. Net sales grew 6.4% to $5.69 billion, above the FactSet consensus of $5.61 billion, while total domestic commercial sales increased 3.9% to $1.499 billion to miss expectations of $1.55 billion. Meanwhile, same-store sales rose 4.5% to beat the FactSet consensus of 2.4% growth, as domestic sales increased 1.7% and international sales jumped 34.1%. \u201cDespite lower than expected growth in domestic\u00a0Commercial, we believe that the initiatives we have in place and are implementing will drive stronger growth in fiscal 2024,\u201d said Chief Executive Bill Rhodes. \u201cAdditionally, we continued to be pleased with our International stores\u2019 performance and we are excited about future growth prospects across both Mexico and Brazil.\u201d The stock has gained 2.3% year to date through Monday, while the S&P 500
\n SPX,
\n -0.22%<\/bg-quote>
\n has advanced 16.0%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of AutoZone Inc. AZO, -1.86% dropped 1.8% in premarket trading Tuesday, are the auto parts retailer reported fiscal fourth-quarter earnings that beat expectations, while the domestic commercial business fell short of forecasts. Net income for the quarter to Aug. 26 rose to $864.89 million, or $46.46 a share, from $810.0 million, or $40.51 a […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-63105","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAutoZone stock drops, as domestic commercial disappointment offsets international strength and profit and sales beats | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of AutoZone Inc. AZO, -1.86% dropped 1.8% in premarket trading Tuesday, are the auto parts retailer reported fiscal fourth-quarter earnings that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=63105\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AutoZone stock drops, as domestic commercial disappointment offsets international strength and profit and sales beats | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Shares of AutoZone Inc. 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