Autozone (NYSE:AZO) Comparable Store Sales up 9.5 Percent

Autozone (NYSE:AZO) beat expectations for their latest quarter, as same-store sales were up by 9.5 percent while revenue and earnings soared.

Revenue increased 12.1 percent to $1.8 billion, exceeding expectations of $1.71 billion.

Earnings came in at $3.77 a share, far above the $3.40 analysts estimated.

Deutsche Bank (NYSE:DB) noted, "We believe AZO has a flexible expense structure, enabling it to invest back strong comps when business is good. With comps continuing to remain strong AZO remains in investment mode, adding to its commercial programs and its hub store initiative."

They maintain a "Hold" rating on Autozone, which closed Tuesday at $260.15, losing $1.76, or 0.67 percent. Deutsche has a price target of $215 on them.