U.S. News: CSK Reports Strong Sales

Automotive parts retailer CSK Auto Corp. reported a higher quarterly profit, helped by strong sales and a focus on reducing expenses, and predicted the sales pace would remain robust.
CSK, which operates Checker Auto Parts, Schuck’s Auto Supply and Kragen Auto Parts stores, said sales at its locations open at least one year rose 7% in the quarter, and the strong trend has continued into the current quarter.
Retailers that sell replacement parts for cars and light trucks have benefited in a sluggish U.S. economy as more cash-strapped consumers perform their own vehicle repairs.
CSK, with more than 1,100 stores primarily in the Western United States, said net income in the third quarter ended November 3 was $10.7 million, or 24 cents a share, compared with $5.9 million, or 19 cents, in the same period the year before.
Wall Street had been looking for earnings of 23 cents a share, with estimates ranging from 22 cents to 24 cents, according to a survey of four analysts by Thomson First Call.