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News Breaks
February 26, 2013
12:46 EDTAZO, AAPAutoZone falls after CEO says sales remain inconsistent
Auto parts retailer AutoZone (AZO) is retreating after the company's CEO, Bill Rhodes, said during the company's earnings conference call this morning that its sales "have remained inconsistent and below our desires and expectations." The company's sales growth during the first two weeks of February, which are the last two weeks of its second quarter, were below normal historical levels, Rhodes added. Usually the company's sales during these two weeks increase significantly compared with prior weeks, the CEO explained. This year, however, its sales rose only modestly versus previous weeks, Rhodes said. Moreover, its U.S. same-store sales during this period tumbled 8% versus the same period in 2012, he reported. The weakness was caused by delays in the processing of tax refunds by the IRS, the CEO stated, adding that the company's outlook remains "cautious." AutoZone's domestic same-store sales dropped 1.8% during its entire second quarter. On a positive note, AutoZone's second quarter earnings per share of $4.78 and revenue of $1.9B were slightly ahead of analysts' consensus estimates. In early afternoon trading, AutoZone shares fell about $5, or 1.3%, to $373.56. Meanwhile, Advance Auto Parts (AAP), one of AutoZone's competitors, dropped 1.6% to $77.10.
News For AZO;AAP From The Last 14 Days
Check below for free stories on AZO;AAP the last two weeks.
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September 2, 2014
10:02 EDTAZOOn The Fly: Analyst Downgrade Summary
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07:09 EDTAZOAutoZone downgraded to Neutral from Overweight at JPMorgan
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07:03 EDTAZOAutoZone to acquire Interamerican Motor Corporation
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06:06 EDTAZOAutoZone downgraded to Neutral from Overweight at JPMorgan
August 28, 2014
09:57 EDTAAP, AZOOn The Fly: Analyst Initiation Summary
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August 27, 2014
17:33 EDTAZOAutoZone initiated with a Neutral at SunTrust
Target $540.
17:33 EDTAAPAdvance Auto Parts initiated with a Buy at SunTrust
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August 19, 2014
17:01 EDTAAPAdvance Auto Parts elects Ernst & Young COO John Ferraro to board
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