** charts after earnings **
AutoZone beats by $0.05, reports revs in-line :
- Reports Q1 (Nov) earnings of $8.29 per share, $0.05 better than the Capital IQ Consensus of $8.24; revenues rose 5.6% year/year to $2.39 bln vs the $2.39 bln Capital IQ Consensus.
- Domestic comps +3.5%.
- For the quarter, gross profit, as a percentage of sales, was 52.5% (versus 52.1% for last year's quarter). The improvement in gross margin was attributable to higher merchandise margins, partially offset by higher supply chain costs associated with current year inventory initiatives (-37 bps).
- Under its share repurchase program, AutoZone repurchased 537 thousand shares of its common stock for $400 million during the first quarter, at an average price of $746 per share. At the end of the first quarter, the Company had $698 million remaining under its current share repurchase authorization.
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