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AutoZone Beats Q4 Expectations

AutoZone Inc. (NYSE: AZO) said on Wednesday that fiscal fourth quarter net income increased 15% as the U.S. biggest auto parts seller’s top line growth continued to show an improvement, aided by new stores opening in the U.S. and Mexico and expanding commercial business. For the latest period ended Aug. 31, AutoZone posted a net income of $371.2 million or $10.42 a share compared to a profit of $323.7 million or $8.46 a share. On adjusted basis, earnings   stood at $9.76 a share. Net sales climbed 12% to $3.1 billion while same-store-sales rose 1% in the fiscal fourth quarter. Analysts surveyed by Thomson Reuters had forecasted earnings of $10.34 cents on revenue of $3.09 billion.

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