AutoZone misses quarterly revenue estimates on inflation, currency rates

(Reuters) - AutoZone connected Tuesday missed Wall Street estimates for second-quarter revenue, arsenic the automotive parts retailer navigated headwinds owed to consumers holding backmost and currency complaint fluctuations.

Shares of the institution fell astir 2.2% successful premarket trading pursuing the results.

The retailer had antecedently warned that inflationary headwinds were weighing connected its wallet-cautious buyers, which impacted its DIY segment.

U.S. President Donald Trump's determination to levy tariffs connected imports from Mexico and Canada arsenic good arsenic treble the duties connected Chinese goods to 20% is besides expected to impact the car manufacture arsenic it attempts to chopped costs.

Bernstein expert Daniel Roeska said helium anticipates the tariffs volition origin "severe disruptions" successful North American proviso chains and automotive nett margins.

AutoZone's quarterly nett income fell 2% to astir $3.95 billion, missing estimates of astir $3.98 billion, according to information compiled by LSEG.

Its home same-store income successful the 4th ended February 15 roseate 1.9%, compared with an summation of 0.3% a twelvemonth ago.

The company's nett income was $515 million, oregon $28.29 per share, successful the 4th quarter, compared with $487.9 million, oregon $28.89 per share, a twelvemonth ago.

(Reporting by Nathan Gomes successful Bengaluru; Editing by Shreya Biswas)