AutoZone, Inc. (AZO) released its third quarter earnings report on Tuesday, May 26. The auto parts company missed quarterly sales estimates, causing shares to fall by 10% following the release of the report.

The company reported net sales of $4.84 billion during the quarter, below analysts’ expectations of $4.86 billion. This was up 8.4% from $4.46 billion in sales during the same quarter last year.

“I want to thank our AutoZoners across the globe for delivering on our promise of “WOW” customer service and strong financial results this past quarter,” said AutoZone CEO, Phil Daniele. “As we remain focused on gaining market share in our industry, we will stay committed to a disciplined approach of increasing earnings and cash flows to drive shareholder value.”

AutoZone reported net income of $641.49 million for the quarter or $38.07 per adjusted share. This was up from $608.44 million or $35.36 per adjusted share in the same quarter last year.

The Tennessee-based company experienced a 4.1% increase in domestic same-store sales and a 1.6% increase in international same-store sales for the quarter, after adjusting for constant currency. The company reported that growth initiatives and inflation resulted in inventory increasing 10.8%. During the quarter, AutoZone opened 82 new stores, including 57 new stores in the U.S., 20 in Mexico and five in Brazil. At the end of the quarter, the company had a combined total of 7,856 stores globally.

AutoZone, Inc. (AZO) shares ended the week at $2,935.19, down 9% for the week.

DICK'S Sporting Goods Announces Earnings

DICK’S Sporting Goods, Inc. (DKS) announced its first quarter earnings on Wednesday, May 27. The Pittsburgh-based sporting goods chain missed earnings expectations, resulting in a nearly 2% decline in its stock.

The retailer posted quarterly revenue of $5.16 billion, above analysts' expectations of $5.09 billion. This was up 63% from $3.17 billion at the same time last year.

“We are very proud of our company's Q1 results,” said DICK’S Sporting Goods CEO, Lauren Hobart. “Sport is driving sustained energy and engagement across the consumer landscape, and our team turned that athlete demand into another very strong quarter of execution. Given our continued confidence in the DICK’S Business, we are raising our full-year expectations for comp sales growth and profitability."

For the first quarter, DICK’S reported net income of $319.82 million or $3.54 per adjusted share. This was up from $264.29 million or $3.24 per adjusted share reported at this time last year.  

DICK’S Business segment reported comparable store sales increased 6% year-over-year, which was attributed to an increase in transactions and higher average ticket amounts. The company’s Foot Locker Business segment saw comparable sales increase 0.6%. At the end of the quarter, the company had a combined total of 3,371 stores comprised of 888 DICK’S Business stores and 2,483 Foot Locker Business stores. DICK’S announced it authorized a quarterly dividend of $1.25 per share of common stock and Class B common stock payable on June 26, 2026, to shareholders of record on June 12, 2026.

DICK’S Sporting Goods, Inc. (DKS) shares closed at $227.57, down 3% for the week.

Salesforce Posts Quarterly Report

Salesforce, Inc. (CRM) posted its first quarter earnings report on Wednesday, May 27. Despite the business software producer reporting better-than-expected revenue for the quarter, the company’s stock fell more than 3% following the earnings release.

The San Francisco-based company reported revenue of $11.13 billion, up 13% from $9.83 billion in revenue at this time last year. This was above analysts’ expected revenue of $11.05 billion for the quarter.

"This was an outstanding quarter for Salesforce — record revenue, record deals, and cash flow,” said Salesforce CEO, Marc Benioff. “Agentic AI is the biggest growth opportunity for our customers, and for Salesforce. With more than $1 billion in Agentforce ARR, $3.4 billion in combined AI and data ARR, and 3.8 billion Agentic Work Units delivered for our customers, Salesforce has never been more essential."

Salesforce posted net income for the quarter of $2.11 billion or $2.42 per adjusted share. During the same quarter last year, the company reported net income of $1.54 billion or $1.59 per adjusted share.

Salesforce’s subscription and support revenue experienced a 14% increase year-over-year to reach $10.59 billion. The company’s professional services and other revenue reached $540 million, an increase from $532 million in the year prior. For the second quarter, Salesforce anticipates revenue between $11.27 to $11.35 billion. For the full fiscal year 2027, Salesforce expects earnings in the range of $7.93 to $7.99 per adjusted share on revenue of $45.9 to $46.2 billion.

Salesforce, Inc. (CRM) shares ended the week at $191.10, up 7% for the week.

The Dow started the week 5/26 at 50,686 and closed at 51,032 on 5/29. The S&P 500 started the week at 7,512 and closed at 7,580. The NASDAQ started the week at 26,591 and closed at 26,973.

U.S. Treasury yields declined early in the week as investors assessed the latest economic conditions. Yields continued to trend lower at the end of the week as continuing claims for unemployment rose more than expected.

On Tuesday, The Conference Board reported that its consumer confidence index fell 0.7 points to 93.1 in May. This marked a decline from April’s reading of 93.8 but was higher than economists’ forecast of 92.0. The decline reflected concerns over inflation and the conflict in the Middle East, which continue to weigh on consumer sentiment.

“The prospect of higher prices and faster inflation continues to loom over confidence readings with many households taking a more cautious approach to purchases this year,” said senior economist at Nationwide Economics, Ben Ayers.

The benchmark 10-year Treasury note yield opened the week of May 26 at 4.49% and traded as low as 4.45% on Wednesday. The 30-year Treasury bond opened the week at 5.02% and traded as low as 4.99% on Wednesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment were 215,000 for the week ending May 23. This was up 5,000 from the prior week and above analysts’ expectations of 211,000. Continuing unemployment claims increased by 15,000 to 1.79 million.

“Initial claims are still impressively low, near historic lows,” said chief economist at High Frequency Economics, Carl Weinberg. “The uptick from last week to this week is trivial in a labor market of 159 million workers.”

The 10-year Treasury note yield finished the week of 5/26 at 4.44%, while the 30-year Treasury note yield finished the week at 4.97%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, May 29. The survey showed mortgage rates increased slightly for the second straight week.

This week, the 30-year fixed mortgage rate averaged 6.53%, an increase from last week’s average of 6.51%. Last year at this time, the 30-year fixed mortgage rate averaged 6.89%.

The 15-year fixed mortgage rate averaged 5.87% this week, up from last week’s average of 5.85%. During the same week last year, the 15-year fixed mortgage rate averaged 6.03%.

“The 30-year fixed-rate mortgage averaged 6.53% this week,” said chief economist at Freddie Mac, Sam Khater. “Pending home sales have increased three months in a row, indicating there is latent demand and homebuyers are ready to jump back into the market if mortgage rates decline.”

Based on published national averages, the savings rate was 0.38% as of 5/18. The one-year CD averaged 1.55%.

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