AutoZone Q2 Earnings Drop, Global Sales Face Challenges

AutoZone reported mixed second-quarter financial results, with revenues slightly increasing by 2.4% to $3.95 billion but still falling short of analysts' expectations of $3.98 billion. Net income decreased to $487.9 million, or $28.29 per share, down from $515 million, or $28.89 per share, a year ago, missing the anticipated $29.05 per share. The company's same-store sales rose domestically by 1.9%, yet international sales struggled due to currency challenges, resulting in an 8.2% decline. Despite these setbacks, AutoZone expressed optimism about its strategy to grow domestic DIY and Commercial sales and plans to capitalize on the upcoming spring and summer seasons. AutoZone opened 45 new stores during the quarter, adding to its global footprint of 7,432 locations.