AutoZone, Inc. (AZO) has reported a 3.73 percent rise in profit for the quarter ended Feb. 11, 2017. The company has earned $237.14 million, or $8.08 a share in the quarter, compared with $228.61 million, or $7.43 a share for the same period last year.

Revenue during the quarter went up marginally by 1.42 percent to $2,289.22 million from $2,257.19 million in the previous year period. Gross margin for the quarter contracted 9 basis points over the previous year period to 52.66 percent. Total expenses were 83.23 percent of quarterly revenues, up from 83.05 percent for the same period last year. That has resulted in a contraction of 18 basis points in operating margin to 16.77 percent.

Operating income for the quarter was $383.97 million, compared with $382.66 million in the previous year period.

"I would like to thank all AutoZoners across the organization for their tremendous efforts during what ultimately turned out to be a challenging quarter. Our sales performance in the last three weeks of our quarter was significantly challenged by well-publicized timing delays in IRS tax refunds, which negatively impacted our profitability for the quarter. While this quarter's results were below our expectations, our AutoZoners' ongoing commitment to providing customers with Trustworthy Advice will allow us to continue to succeed for years to come. Our objective remains to continue to provide great service to our customers and deliver strong, consistent performance for our shareholders as we remain committed to our approach of increasing operating earnings and utilizing our capital effectively," said Bill Rhodes, chairman, president and chief executive officer.