AutoZone Inc

AZO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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AutoZone Earnings: Market Reacts Negatively to Increased Overhead Expense, but Shares Still Rich

Kristoffer Inton

Dec 9, 2025

AutoZone's domestic and international sales were up 4.8% and 3.7%, respectively, in constant currency in the fiscal 2026 first quarter. Gross margin contracted 203 basis points to 51%, driven by a 212-basis-point noncash LIFO charge related to tariffs. Overhead expense rose 10% to support growth.

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AutoZone Inc

AutoZone Earnings: Market Reacts Negatively to Increased Overhead Expense, but Shares Still Rich

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