AutoZone stock gained on Tuesday following the release of fiscal fourth-quarter results that surpassed analyst projections. The automotive replacement parts and accessories distributor reported net sales of $6.6 billion, representing 5.6% year-over-year growth for the quarter ended August 29.
The company achieved significant operational milestones during the period. AutoZone opened 175 new stores in the quarter and 374 locations over the preceding 12 months, marking the highest annual store opening count in company history. The retailer ended the period with a total store footprint of 8,031 locations, comprising 6,863 in the United States, 1,001 in Mexico, and 167 in Brazil. Same-store sales increased 2.7% on a reported basis, or 1.5% when adjusted for foreign currency fluctuations.
Financial performance exceeded expectations across multiple metrics. Operating profit climbed 10% to $1.3 billion, bolstered in part by tariff refunds. Net income rose 11% to $931.6 million, while earnings per share jumped 15% to $56.05, surpassing Wall Street’s consensus estimate of $53.89. The per-share gains were amplified by ongoing share repurchase activity.
Company leadership expressed confidence in near-term prospects despite acknowledged headwinds. CEO Phil Daniele noted that sales momentum strengthened during the final eight weeks of the quarter and indicated the company is positioned for growth in the following fiscal year. This outlook was maintained despite acknowledgment of higher gas prices and a challenging macroeconomic environment.
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