UPDATE 2-AutoNation's earnings flat, new cars sales slip

Newswire

(Adds quotes, stock price, byline) By Michael Ellis DETROIT, April 28 (Reuters) - Car dealership group AutoNation Inc. posted flat earnings on Thursday as cost-cutting initiatives largely offset weaker new car sales. AutoNation, the largest U.S. automotive retailer, said its first-quarter earnings from continuing operations totaled $88.3 million, or 33 cents per share, versus $88.5 million, or 32 cents per share, a year earlier. During the quarter, AutoNation repurchased $95 million ...

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