Autozone (AZO) has reported an 8.39 percent rise in profit for the quarter ended May 09, 2015. The company has earned $309.07 million, or $9.57 a share in the quarter, compared with $285.16 million, or $8.46 a share for the same period last year. Revenue during the quarter grew 6.47 percent to $2,493.02 million from $2,341.54 million in the previous year period. Gross margin for the quarter expanded 29 basis points over the previous year period to 52.26 percent. Total expenses were 79.38 percent of quarterly revenues, down from 79.55 percent for the same period last year. This has led to an improvement of 16 basis points in operating margin to 20.62 percent.
Operating income for the quarter was $513.95 million, compared with $478.95 million in the previous year period.
"We are pleased to report our thirty-fifth consecutive quarter of double digit earnings per share growth. AutoZoners across the company remain committed to providing superior service to our customers and that dedication has resulted in consistent, solid performance. We continued to diligently work on our inventory availability initiatives, including expanding our multi-deliveries per week to test stores and opening two additional mega hub store locations. Also, the expanded hard parts inventory we have deployed throughout our chain over the last year continues to be a contributor to our sales success," said Bill Rhodes, chairman, president and chief executive officer.
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