AutoZone Benefits from DIYers
May 27, 2009
AutoZone, the largest U.S. auto-parts retailer, is one of the beneficiaries of the recession as consumer opt to repair their current vehicles rather than buying new ones.
The company reported a third-quarter profit of $174 million, up 9.5 percent and higher than analysts had forecasted. Sales rose 9.3 percent to $1.66 billion. In addition to do-it-yourselfers, the company said the increasing average age of the cars is boosting its sales of oil filters and windshield wipers.
Posted by Michelle Krebs at 9:56 AM under Business , Companies | Comments (0) | digg this | Seed Newsvine
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