AutoZone, Inc. (NYSE: AZO) reported Q3 EPS of $8.46, $0.02 better than the analyst estimate of $8.44. Revenue for the quarter came in at $2.34 billion versus the consensus estimate of $2.33 billion.

Domestic same store sales, or sales for stores open at least one year, increased 4.0% for the quarter.

The Company's inventory increased 12.0% over the same period last year, driven by a combination of increased product placement and new store openings. Inventory per store was $594 thousand versus $547 thousand last year and $589 thousand last quarter. Net inventory, defined as merchandise inventories less accounts payable, on a per store basis was a negative $84 thousand versus negative $63 thousand last year.

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