MEMPHIS, Tenn. AutoZone has reported net sales of $1.9 billion for its first quarter (12 weeks) ended Nov. 19, 2011, an increase of 7.4 percent from the first quarter of fiscal 2011 (12 weeks).
Domestic same-store sales, or sales for stores open at least one year, increased 4.6 percent for the quarter.
Net income for the quarter increased $19 million, or 11.1 percent, over the same period last year to $191.1 million, while diluted earnings per share increased 24 percent to $4.68 per share from $3.77 per share in the year-ago quarter.
For the quarter, gross profit, as a percentage of sales, was 51.1 percent (versus 50.7 percent for last year’s quarter).
During the quarter, AutoZone opened 17 new stores in the U.S. and two new stores in Mexico. As of Nov. 19, 2011, the company had 4,551 stores in 48 states, the District of Columbia and Puerto Rico in the U.S. and 281 stores in Mexico for a total store count of 4,832.