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Auto News

AutoZone 2nd Quarter Same Store Sales Increase 2.2%; EPS Increases 28.5% to $10.38, Adjusted EPS Increases 9.3% to $8.47

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MEMPHIS, Tenn., Feb. 27, 2018 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO) today reported net sales of $2.4 billion for its second quarter (12 weeks) ended February 10, 2018, an increase of 5.4% from the second quarter of fiscal 2017 (12 weeks).  Domestic same store sales, or sales for stores open at least one year, increased 2.2% for the quarter. The Tax Cuts and Jobs Act of 2017 (“Tax Reform”) increased net income by $171.4 million, consisting of benefits from both revaluation of net deferred taxes of $136.7 million and a lower corporate tax rate of $59.5 million, partially offset by $24.8 million of tax expense related to repatriation taxes for accumulated earnings of foreign subsidi...

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