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MEMPHIS, Tenn., March 4 (Reuters) - AutoZone Inc. , the largest U.S. auto parts retailer, on Tuesday reported higher quarterly earnings, boosted by stronger sales to commercial customers.
AutoZone said earnings for the second fiscal quarter ended Feb. 15 rose to $79.3 million, or 79 cents a share, from $63.8 million, or 58 cents, in the same period a year ago.
Analysts expected AutoZone to earn 78 cents a share, with estimates ranging from 77 cents to 79 cents, according to Thomson First Call.
Second-quarter sales at its stores open at least one year rose 2.4 percent from a year ago. Total sales increased 3.6 percent to $1.12 billion.
AutoZone in February confirmed its outlook for second-quarter earnings of 77 cents to 79 cents a share as a jump in sales at its commercial stores open at least one year offset lower same-store sales at retail outlets.
Commercial same-store sales climbed 29.2 percent in the quarter, while retail comparable-store sales fell 0.6 percent.
AutoZone has benefited during the soft economy as consumers logged more miles on their cars and bought replacement parts to keep them running longer.
But the stock, which fell 4.6 percent on Tuesday, has slumped about 21 percent since the company said in December its sales comparisons would be difficult going forward. The shares closed Tuesday at $63, down $3.03, on the New York Stock Exchange.
Memphis, Tennessee-based AutoZone, which sells automotive and light truck parts and accessories through more than 3,000 stores in the United States and Mexico, has said it is adding television spots to its national advertising campaign to boost demand.