Autozone (AZO), a retailer and distributor of automotive replacement parts, has posted a 5.24 percent increase in profit for the financial year ended Aug. 30, 2014. The company earned $1069.74 million or $31.57 a share in the financial year compared with $1016.48 million or $27.79 a share a year ago. Revenue during the financial year grew 3.58 percent to $9475.31 million from $9147.53 million in the last year period.

Gross margin expanded by 25 basis points over the previous year period to 52.08 percent. Total expenses as a percentage of revenues increased to 80.68 percent from 80.62 percent in the same period last year. That has resulted in contraction of 7 basis points in operating margins to 19.32 percent. The company disclosed operating income of $1830.22 million, compared with $1773.10 million in the last year period.

''I would like to thank our entire organization for the solid performance delivered this past fiscal year. We are pleased to report that the fourth quarter of fiscal 2014, on a 16 week adjusted basis, marked our thirty-second consecutive quarter of double digit earnings per share growth. Since our inception, we've been committed to providing exceptional customer service and trustworthy advice that we see as the differentiator across our industry," said Bill Rhodes, chairman, president and chief executive officer.

Shares of the company declined $5.87 or 1.10 percent to settle at $526.44 on Friday.