AutoZone falls after Q4 results miss estimates

OReilly Automotive

24/09/2024 13:54

** Auto parts retailer AutoZone's shares  AZO.N  fall 3.7%
to $2,935 premarket
    ** Co reports Q4 2024 adjusted profit of $48.11 per share,
below analysts' estimate of $53.53 per share - data compiled by
LSEG
    ** Q4 net sales of $6.21 bln misses estimates of $6.22 bln 
    ** It was not immediately known if the data could be
compared
    ** Co's top-line continues to be impacted by sales softness
in the U.S. as inflationary pressures force consumers to cut
down on discretionary spending 
    ** "Domestically, our business continues to be challenged by
deferrals across our discretionary merchandise categories," says
CEO Phil Daniele 
    ** CEO also notes currency rate moves slowed sales and
earnings growth
    ** Up to last close, stock had risen ~18% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))