Transportation
AutoZone Says Pro Car Repairs, High Prices Will Propel Growth
- Doubling mega hubs to boost commercial business growth
- Company will not lower prices raised during high inflation
AutoZone shares rose as much as 6.3% intraday, the most since Dec. 2021, to a historic high of $2,945.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
AutoZone Inc. hit a record high Tuesday after announcing profit above analysts’ estimates, while outlining its prospects for reversing slowing sales growth.
The auto parts retailer reported adjusted earnings of $28.89 per share, according to a statement Tuesday morning. Analysts had expected $26.27 per share.