Management cited a narrower assortment of handsets, ramp up of expertise on the activation process, and fewer-than-expected promotions as reasons for the softness.
We continue to believe that AutoZone is making all the right moves to invest in its store base in the near to medium term.
Sales growth combined with slower store growth implies commercial takes a larger role.
There's no surprise in the numbers coming so close to the profit warnings. The story here is the company's insistence it can pay a dividend.