UPDATE 2-AutoZone profit rises on modest sales growth

Newswire

(Recasts, adds analyst comments) CHICAGO, May 26 (Reuters) - AutoZone Inc. , the largest U.S. auto parts retailer, on Wednesday reported higher-than-expected quarterly earnings on a modest 2 percent increase in sales at stores open at least one year. Same-store sales growth at the company has slowed in recent quarters as competitors such as Advance Auto Parts Inc. have gained market share, analysts said. AutoZone said retail same-store sales rose 1 percent in the latest quarter, and ...

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