AutoZone Inc. (AZO) recorded a 24% rise in profit to $4.68 per share in the first quarter of its fiscal 2012 ended November 19, 2011 from $3.77 per share in the year-ago quarter, beating the Zacks Consensus Estimate of $4.45 per share. In absolute terms, profit increased 11% to $191.1 million from $172.1 million a year ago. The increase in profit was driven by a 7.4% rise in net sales to $1.92 billion, which surpassed the Zacks Consensus Estimate of $1.90 billion. Domestic same-store sales (for stores open at least one year), increased 4.6% during the quarter compared with 9.5% a year ago. Gross margin was 51.1% versus 50.7% in the first quarter of fiscal 2011. The higher gross margin was attributable to lower distribution costs due to an increase
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