Why did AZO's EPS consistently fall short of forecasts in 2024?

The EPS of AutoZone (AZO) fell short of forecasts in 2024 due to several factors: 1. **Domestic DIY Sales Decline**: Despite a 4.5% increase in domestic commercial sales on a 16-week basis and a 10.9% increase on a 17-week basis, domestic DIY comp sales were down about 1% for the fourth quarter. This decline, particularly in the DIY segment, contributed to the overall EPS missing expectations. 2. **International Store Expansion**: While the company opened 49 new international stores, the expansion likely increased expenses, which could have impacted EPS. The international same-store sales growth of 9.9% suggests strong performance outside the U.S., but the additional costs associated with international expansion might have affected profitability. In summary, the EPS of AutoZone fell short of forecasts due to domestic DIY sales decline and international store expansion.