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AutoZone Shows Same-Store Sales Improvement, but Lower Earnings ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ AutoZone announced this morning that net income for its fiscal 3Q declined 2.3% to $144.4 million, while EPS was up 1.4% to $1.89 (due to the repurchase of 2.3 million shares.) The conference call is underway. Zack’s consensus of analysts was looking for $1.96, while Briefing.com indicates Reuters consensus was looking for $1.95 Same-store sales were up 2.1% (the strongest we’ve seen in a long time,) but the operating margin fell 150 basis points to 17.9% due to lower gross profit margins and operating expenses as a percentage of revenues climbing to 31.8% versus 30.9% in the prior yea
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