Memphis -- AutoZone’s net income for the fourth quarter increased 14.7% to $371.2 million, below estimates. The chain also posted its 28th consecutive quarter of double digit growth in earnings per share.
Revenue rose 12% to $3.1 billion, narrowly exceeding expectations. Domestic same-store sales disappointed with a 1% gain.
“While our same store sales performance was below our expectations for the quarter, we believe the initiatives we have in place will lead to improved sales in both retail and commercial in 2014,” AutoZone CEO Bill Rhodes said in a statement.