AutoZone, Inc. (NYSE: AZO) today reported net sales of $3.9 billion
for its second quarter (12 weeks) ended February 10, 2024, an
increase of 4.6% from the second quarter of fiscal 2023 (12 weeks).
Same store sales, or sales for our domestic and international
stores open at least one year, are as follows:
|
|
|
Constant Currency |
|
|
|
Constant Currency |
|
12 Weeks |
|
12 Weeks* |
|
24 Weeks |
|
24 Weeks* |
|
|
|
|
|
|
|
|
Domestic |
0.3 |
% |
|
0.3 |
% |
|
0.8 |
% |
|
0.8 |
% |
International |
23.9 |
% |
|
10.6 |
% |
|
24.5 |
% |
|
10.7 |
% |
Total
Company |
3.0 |
% |
|
1.5 |
% |
|
3.2 |
% |
|
1.8 |
% |
* Excludes impacts from fluctuations of foreign exchange
rates. |
|
|
|
|
|
For the quarter, gross profit, as a percentage of sales, was
53.9%, an increase of 160 basis points versus the prior year. The
increase in gross margin was driven by higher merchandise margins
and a 63 basis point ($24 million net) non-cash LIFO favorability,
with the remaining leverage primarily from favorable supply chain
costs. Operating expenses, as a percentage of sales, were 34.6%
versus last year at 34.1%. Deleverage was primarily driven by
domestic store payroll and investment in technology related
initiatives.
Operating profit increased 10.9% to $743.2 million. Net income
for the quarter increased 8.1% over the same period last year to
$515.0 million, while diluted earnings per share increased 17.2% to
$28.89.
Under its share repurchase program, AutoZone repurchased 84
thousand shares of its common stock at an average price per share
of $2,676, for a total investment of $223.8 million. At the end of
the second quarter, the Company had $2.1 billion remaining under
its current share repurchase authorization.
The Company’s inventory increased 4.2% over the same period last
year driven by new store growth. Net inventory, defined as
merchandise inventories less accounts payable, on a per store
basis, was negative $164 thousand versus negative $227 thousand
last year and negative $197 thousand last quarter.
“I want to thank our AutoZoners for delivering solid earnings in
our second fiscal quarter. Their commitment to delivering superior
customer service again drove our very solid quarterly performance.
While a difficult holiday comparison for both Christmas and New
Year’s negatively impacted quarterly sales performance, we continue
to be encouraged with our sales initiatives, and believe we are
well positioned for future growth. Additionally, we are pleased
with our international business as we delivered another quarter of
double-digit growth. We remain committed to prudently
investing capital in our business, and we will be steadfast in our
long-term, disciplined approach to increasing operating earnings
and cash flows while utilizing our balance sheet
effectively,” said Phil Daniele, President and Chief
Executive Officer.
During the quarter ended February 10, 2024, AutoZone opened 19
new stores and closed three in the U.S., opened six new stores in
Mexico and four in Brazil for a total of 26 net new stores. As of
February 10, 2024, the Company had 6,332 stores in the U.S., 751 in
Mexico and 108 in Brazil for a total store count of 7,191.
AutoZone is the leading retailer and distributor of automotive
replacement parts and accessories in the Americas. Each store
carries an extensive product line for cars, sport utility vehicles,
vans and light duty trucks, including new and remanufactured
automotive hard parts, maintenance items, accessories, and
non-automotive products. The majority of stores have a commercial
sales program that provides commercial credit and prompt delivery
of parts and other products to local, regional and national repair
garages, dealers, service stations, fleet owners and other
accounts. AutoZone also sells automotive hard parts, maintenance
items, accessories and non-automotive products through
www.autozone.com, and our commercial customers can make purchases
through www.autozonepro.com. Additionally, we sell the ALLDATA
brand of automotive diagnostic, repair, collision and shop
management software through www.alldata.com. We also provide
product information on our Duralast branded products through
www.duralastparts.com. AutoZone does not derive revenue from
automotive repair or installation services.
AutoZone will host a conference call this morning, Tuesday,
February 27, 2024, beginning at 10:00 a.m. (ET) to discuss its
second quarter results. This call is being web cast and can be
accessed, along with supporting slides, at AutoZone’s website at
www.autozone.com by clicking on Investor Relations. Investors may
also listen to the call by dialing (888) 506-0062, passcode
AUTOZONE. In addition, a telephone replay will be available by
dialing (877) 481-4010, replay passcode 49727 through March 12,
2024.
This release includes certain financial information not derived
in accordance with generally accepted accounting principles
(“GAAP”). These non-GAAP measures include adjustments to reflect
return on invested capital, adjusted debt and adjusted debt to
EBITDAR. The Company believes that the presentation of these
non-GAAP measures provides information that is useful to investors
as it indicates more clearly the Company’s comparative year-to-year
operating results, but this information should not be considered a
substitute for any measures derived in accordance with GAAP.
Management targets the Company’s capital structure in order to
maintain its investment grade credit ratings. The Company believes
this is important information for the management of its debt levels
and share repurchases. We have included a reconciliation of this
additional information to the most comparable GAAP measures in the
accompanying reconciliation tables.
Certain statements contained herein constitute forward-looking
statements that are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements typically use words such as “believe,” “anticipate,”
“should,” “intend,” “plan,” “will,” “expect,” “estimate,”
“project,” “positioned,” “strategy,” “seek,” “may,” “could” and
similar expressions. These are based on assumptions and assessments
made by our management in light of experience and perception of
historical trends, current conditions, expected future developments
and other factors that we believe to be appropriate. These
forward-looking statements are subject to a number of risks and
uncertainties, including without limitation: product demand, due to
changes in fuel prices, miles driven or otherwise; energy prices;
weather, including extreme temperatures, natural disasters and
general weather conditions; competition; credit market conditions;
cash flows; access to available and feasible financing on favorable
terms; future stock repurchases; the impact of recessionary
conditions; consumer debt levels; changes in laws or regulations;
risks associated with self-insurance; war and the prospect of war,
including terrorist activity; the impact of public health issues;
inflation, including wage inflation; the ability to hire, train and
retain qualified employees including members of management and
other key personnel; construction delays; failure or interruption
of our information technology systems; issues relating to the
confidentiality, integrity or availability of information,
including due to cyber-attacks; historic growth rate
sustainability; downgrade of our credit ratings; damage to our
reputation; challenges associated with doing business in and
expanding into international markets; origin and raw material costs
of suppliers; inventory availability; disruption in our supply
chain; impact of tariffs; impact of new accounting standards; our
ability to execute our growth initiatives; and other business
interruptions. Certain of these risks and uncertainties are
discussed in more detail in the “Risk Factors” section contained in
Item 1A under Part 1 of the Company’s Annual Report on Form 10-K
for the year ended August 26, 2023, and these Risk Factors should
be read carefully. Forward-looking statements are not guarantees of
future performance and actual results, developments and business
decisions may differ from those contemplated by such
forward-looking statements. Events described above and in the “Risk
Factors” could materially and adversely affect our business.
However, it should be understood that it is not possible to
identify or predict all such risks and other factors that could
affect these forward-looking statements. Forward-looking statements
speak only as of the date made. Except as required by applicable
law, we undertake no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact Information:Financial: Brian Campbell at (901) 495-7005,
brian.campbell@autozone.com Media: David McKinney at (901)
495-7951, david.mckinney@autozone.com
AutoZone's 2nd
Quarter Highlights - Fiscal 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
2nd Quarter, FY2024 |
|
|
|
|
|
|
|
(in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
GAAP Results |
|
|
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
|
|
|
|
|
|
February 10, 2024 |
|
February 11, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
3,859,126 |
|
|
$ |
3,690,982 |
|
|
|
|
Cost of sales |
|
|
1,779,474 |
|
|
|
1,760,979 |
|
|
|
|
Gross profit |
|
|
2,079,652 |
|
|
|
1,930,003 |
|
|
|
|
Operating, SG&A expenses |
|
|
1,336,410 |
|
|
|
1,260,026 |
|
|
|
|
Operating profit (EBIT) |
|
|
743,242 |
|
|
|
669,977 |
|
|
|
|
Interest expense, net |
|
|
102,619 |
|
|
|
65,609 |
|
|
|
|
Income before taxes |
|
|
640,623 |
|
|
|
604,368 |
|
|
|
|
Income tax expense |
|
|
125,593 |
|
|
|
127,824 |
|
|
|
|
Net income |
|
$ |
515,030 |
|
|
$ |
476,544 |
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
Basic |
|
|
$ |
29.74 |
|
|
$ |
25.48 |
|
|
|
|
Diluted |
|
|
$ |
28.89 |
|
|
$ |
24.64 |
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
|
|
17,319 |
|
|
|
18,705 |
|
|
|
|
Diluted |
|
|
|
17,828 |
|
|
|
19,337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-To-Date 2nd Quarter, FY2024 |
|
|
|
|
|
|
|
(in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
GAAP Results |
|
|
|
|
|
|
|
24 Weeks
Ended |
|
24 Weeks
Ended |
|
|
|
|
|
|
|
February 10, 2024 |
|
February 11, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
8,049,403 |
|
|
$ |
7,676,049 |
|
|
|
|
Cost of sales |
|
|
3,755,735 |
|
|
|
3,751,424 |
|
|
|
|
Gross profit |
|
|
4,293,668 |
|
|
|
3,924,625 |
|
|
|
|
Operating, SG&A expenses |
|
|
2,701,822 |
|
|
|
2,531,615 |
|
|
|
|
Operating profit (EBIT) |
|
|
1,591,846 |
|
|
|
1,393,010 |
|
|
|
|
Interest expense, net |
|
|
194,004 |
|
|
|
123,332 |
|
|
|
|
Income before taxes |
|
|
1,397,842 |
|
|
|
1,269,678 |
|
|
|
|
Income taxes |
|
|
289,349 |
|
|
|
253,816 |
|
|
|
|
Net income |
|
$ |
1,108,493 |
|
|
$ |
1,015,862 |
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
Basic |
|
|
$ |
63.29 |
|
|
$ |
53.87 |
|
|
|
|
Diluted |
|
|
$ |
61.48 |
|
|
$ |
52.12 |
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
|
|
17,514 |
|
|
|
18,856 |
|
|
|
|
Diluted |
|
|
|
18,031 |
|
|
|
19,491 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Balance Sheet Information |
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
February 10, 2024 |
|
February 11, 2023 |
|
August 26, 2023 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
304,096 |
|
|
$ |
301,286 |
|
|
$ |
277,054 |
|
|
Merchandise inventories |
|
|
5,970,175 |
|
|
|
5,731,255 |
|
|
|
5,764,143 |
|
|
Current assets |
|
|
7,157,056 |
|
|
|
6,794,805 |
|
|
|
6,779,426 |
|
|
Property and equipment, net |
|
|
5,907,484 |
|
|
|
5,236,129 |
|
|
|
5,596,548 |
|
|
Operating lease right-of-use assets |
|
|
2,999,294 |
|
|
|
2,943,844 |
|
|
|
2,998,097 |
|
|
Total assets |
|
|
16,717,654 |
|
|
|
15,545,142 |
|
|
|
15,985,878 |
|
|
Accounts payable |
|
|
7,149,882 |
|
|
|
7,321,551 |
|
|
|
7,201,281 |
|
|
Current liabilities |
|
|
8,772,609 |
|
|
|
8,614,618 |
|
|
|
8,511,856 |
|
|
Operating lease liabilities, less current portion |
|
|
2,901,636 |
|
|
|
2,854,227 |
|
|
|
2,917,046 |
|
|
Total debt |
|
|
8,630,553 |
|
|
|
7,042,302 |
|
|
|
7,668,549 |
|
|
Stockholders' deficit |
|
|
(4,837,321 |
) |
|
|
(4,184,170 |
) |
|
|
(4,349,894 |
) |
|
Working capital |
|
|
(1,615,553 |
) |
|
|
(1,819,813 |
) |
|
|
(1,732,430 |
) |
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 2nd Quarter Highlights - Fiscal
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Debt / EBITDAR |
|
|
|
|
|
|
|
|
|
(in thousands, except adjusted debt to EBITDAR ratio) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
|
|
|
February 10, 2024 |
|
February 11, 2023 |
|
|
|
|
|
Net income |
|
$ |
2,621,057 |
|
|
$ |
2,418,476 |
|
|
|
|
|
|
Add: Interest expense |
|
|
377,044 |
|
|
|
229,215 |
|
|
|
|
|
|
Income tax expense |
|
|
|
674,721 |
|
|
|
634,803 |
|
|
|
|
|
|
EBIT |
|
|
|
|
3,672,822 |
|
|
|
3,282,494 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Depreciation and amortization |
|
|
519,805 |
|
|
|
465,905 |
|
|
|
|
|
|
Rent expense(1) |
|
|
|
417,864 |
|
|
|
394,298 |
|
|
|
|
|
|
Share-based expense |
|
|
|
96,669 |
|
|
|
82,253 |
|
|
|
|
|
|
EBITDAR |
|
|
$ |
4,707,160 |
|
|
$ |
4,224,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
$ |
8,630,553 |
|
|
$ |
7,042,302 |
|
|
|
|
|
|
Financing lease liabilities |
|
|
328,955 |
|
|
|
290,858 |
|
|
|
|
|
|
Add: Rent x 6(1) |
|
|
2,507,184 |
|
|
|
2,365,788 |
|
|
|
|
|
|
Adjusted debt |
|
$ |
11,466,692 |
|
|
$ |
9,698,948 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted debt to EBITDAR |
|
|
2.4 |
|
|
|
2.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Return on Invested Capital (ROIC) |
|
|
|
|
|
|
|
|
|
(in thousands, except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
|
|
|
February 10, 2024 |
|
February 11, 2023 |
|
|
|
|
|
Net income |
|
$ |
2,621,057 |
|
|
$ |
2,418,476 |
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
|
377,044 |
|
|
|
229,215 |
|
|
|
|
|
|
Rent expense(1) |
|
|
|
417,864 |
|
|
|
394,298 |
|
|
|
|
|
|
Tax effect(2) |
|
|
|
(162,956 |
) |
|
|
(129,691 |
) |
|
|
|
|
|
Adjusted after-tax return |
|
$ |
3,253,009 |
|
|
$ |
2,912,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average debt(3) |
|
$ |
7,853,082 |
|
|
$ |
6,278,213 |
|
|
|
|
|
|
Average stockholders' deficit(3) |
|
|
(4,577,327 |
) |
|
|
(3,617,143 |
) |
|
|
|
|
|
Add: Rent x 6(1) |
|
|
2,507,184 |
|
|
|
2,365,788 |
|
|
|
|
|
|
Average financing lease liabilities(3) |
|
|
295,494 |
|
|
|
294,337 |
|
|
|
|
|
|
Invested capital |
|
$ |
6,078,433 |
|
|
$ |
5,321,195 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted After-Tax ROIC |
|
|
53.5 |
% |
|
|
54.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)The table below
outlines the calculation of rent expense and reconciles rent
expense to total lease cost, per ASC 842, the most directly
comparable GAAP financial measure, for the trailing four quarters
ended February 10, 2024 and February 11,
2023. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
(in thousands) |
|
|
February 10, 2024 |
|
February 11, 2023 |
|
|
|
|
|
Total lease cost, per ASC 842 |
|
$ |
546,195 |
|
|
$ |
498,970 |
|
|
|
|
|
|
Less: Financing lease interest and amortization |
|
|
(93,591 |
) |
|
|
(77,302 |
) |
|
|
|
|
|
Less:
Variable operating lease components, related to insurance and
common area maintenance |
|
|
|
|
|
(34,740 |
) |
|
|
(27,370 |
) |
|
|
|
|
|
Rent expense |
|
$ |
417,864 |
|
|
$ |
394,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)Effective tax rate
over the trailing four quarters ended February 10, 2024 and
February 11, 2023 is 20.5% and 20.8%, respectively. |
|
|
|
|
|
(3)All averages are
computed based on trailing five quarter balances. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Selected Financial Information |
|
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
February 10, 2024 |
|
February 11, 2023 |
|
|
|
|
|
Cumulative share repurchases ($ since fiscal 1998) |
|
$ |
35,540,758 |
|
|
$ |
31,898,212 |
|
|
|
|
|
|
Remaining share repurchase authorization ($) |
|
|
2,109,242 |
|
|
|
1,751,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases (shares since fiscal 1998) |
|
|
154,696 |
|
|
|
153,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding, end of quarter |
|
|
17,312 |
|
|
|
18,467 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks Ended February 10, 2024 |
|
12 Weeks Ended February 11, 2023 |
|
24 Weeks Ended February 10, 2024 |
|
24 Weeks Ended February 11, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
124,968 |
|
|
$ |
113,711 |
|
|
$ |
245,192 |
|
$ |
222,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow from operations |
|
|
434,127 |
|
|
|
354,474 |
|
|
|
1,264,386 |
|
|
1,148,061 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital spending |
|
|
255,379 |
|
|
|
144,837 |
|
|
|
490,807 |
|
|
259,234 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 2nd
Quarter Highlights - Fiscal 2024 |
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
Selected Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store Count & Square Footage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
24 Weeks
Ended |
|
|
24 Weeks
Ended |
|
|
|
|
|
|
February 10, 2024 |
|
|
February 11, 2023 |
|
|
February 10, 2024 |
|
|
February 11, 2023 |
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
|
6,316 |
|
|
|
|
6,196 |
|
|
|
|
6,300 |
|
|
|
|
6,168 |
|
|
Stores opened |
|
|
|
19 |
|
|
|
|
30 |
|
|
|
|
36 |
|
|
|
|
58 |
|
|
Stores closed |
|
|
|
(3 |
) |
|
|
|
- |
|
|
|
|
(4 |
) |
|
|
|
- |
|
|
Ending domestic stores |
|
|
|
6,332 |
|
|
|
|
6,226 |
|
|
|
|
6,332 |
|
|
|
|
6,226 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated stores |
|
|
|
3 |
|
|
|
|
1 |
|
|
|
|
3 |
|
|
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with commercial programs |
|
|
|
5,823 |
|
|
|
|
5,500 |
|
|
|
|
5,823 |
|
|
|
|
5,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
|
41,853 |
|
|
|
|
41,103 |
|
|
|
|
41,853 |
|
|
|
|
41,103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
|
745 |
|
|
|
|
706 |
|
|
|
|
740 |
|
|
|
|
703 |
|
|
Stores opened |
|
|
|
6 |
|
|
|
|
1 |
|
|
|
|
11 |
|
|
|
|
4 |
|
|
Ending Mexico stores |
|
|
|
751 |
|
|
|
|
707 |
|
|
|
|
751 |
|
|
|
|
707 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
|
104 |
|
|
|
|
76 |
|
|
|
|
100 |
|
|
|
|
72 |
|
|
Stores opened |
|
|
|
4 |
|
|
|
|
5 |
|
|
|
|
8 |
|
|
|
|
9 |
|
|
Ending Brazil stores |
|
|
|
108 |
|
|
|
|
81 |
|
|
|
|
108 |
|
|
|
|
81 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
7,191 |
|
|
|
|
7,014 |
|
|
|
|
7,191 |
|
|
|
|
7,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Company stores opened, net |
|
|
26 |
|
|
|
|
36 |
|
|
|
|
51 |
|
|
|
|
71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
|
48,240 |
|
|
|
|
46,982 |
|
|
|
|
48,240 |
|
|
|
|
46,982 |
|
|
Square footage per store |
|
|
|
6,708 |
|
|
|
|
6,698 |
|
|
|
|
6,708 |
|
|
|
|
6,698 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Statistics |
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands, except sales per average square foot) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
Trailing 4
Quarters |
|
|
Trailing 4
Quarters |
|
Total AutoZone Stores (Domestic, Mexico and
Brazil) |
February 10, 2024 |
|
|
February 11, 2023 |
|
|
February 10, 2024 |
|
|
February 11, 2023 |
|
Sales per average store |
|
|
$ |
527 |
|
|
|
$ |
518 |
|
|
|
$ |
2,465 |
|
|
|
$ |
2,399 |
|
|
Sales per average square foot |
|
|
$ |
79 |
|
|
|
$ |
77 |
|
|
|
$ |
368 |
|
|
|
$ |
359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Parts (Domestic, Mexico and Brazil) |
|
|
|
|
|
|
|
|
|
|
|
|
Total auto parts sales |
|
|
$ |
3,786,339 |
|
|
|
$ |
3,623,110 |
|
|
|
$ |
17,508,154 |
|
|
|
$ |
16,590,483 |
|
|
%
Increase vs. LY |
|
|
|
4.5 |
% |
|
|
|
9.6 |
% |
|
|
|
5.5 |
% |
|
|
|
8.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
Total domestic commercial sales |
|
|
$ |
980,134 |
|
|
|
$ |
954,584 |
|
|
|
$ |
4,682,570 |
|
|
|
$ |
4,475,546 |
|
|
%
Increase vs. LY |
|
|
|
2.7 |
% |
|
|
|
13.1 |
% |
|
|
|
4.6 |
% |
|
|
|
19.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average sales per program per week |
|
|
$ |
14.1 |
|
|
|
$ |
14.5 |
|
|
|
$ |
15.9 |
|
|
|
$ |
16.0 |
|
|
%
Increase vs. LY |
|
|
|
(2.8 |
%) |
|
|
|
7.4 |
% |
|
|
|
(0.6 |
%) |
|
|
|
14.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other, including ALLDATA |
|
|
|
|
|
|
|
|
|
|
|
|
All other sales |
|
|
$ |
72,787 |
|
|
|
$ |
67,872 |
|
|
|
$ |
322,408 |
|
|
|
$ |
299,144 |
|
|
%
Increase vs. LY |
|
|
|
7.2 |
% |
|
|
|
6.8 |
% |
|
|
|
7.8 |
% |
|
|
|
10.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
24 Weeks
Ended |
|
|
24 Weeks
Ended |
|
Same store sales(4) |
|
February 10, 2024 |
|
|
February 11, 2023 |
|
|
February 10, 2024 |
|
|
February 11, 2023 |
|
Domestic |
|
|
|
|
0.3 |
% |
|
|
|
5.3 |
% |
|
|
|
0.8 |
% |
|
|
|
5.5 |
% |
|
International |
|
|
|
23.9 |
% |
|
|
|
30.6 |
% |
|
|
|
24.5 |
% |
|
|
|
27.1 |
% |
|
Total Company |
|
|
|
3.0 |
% |
|
|
|
7.6 |
% |
|
|
|
3.2 |
% |
|
|
|
7.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International - Constant Currency |
|
|
|
10.6 |
% |
|
|
|
21.1 |
% |
|
|
|
10.7 |
% |
|
|
|
21.0 |
% |
|
Total Company - Constant Currency |
|
|
|
1.5 |
% |
|
|
|
6.7 |
% |
|
|
|
1.8 |
% |
|
|
|
6.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4)Same store sales
are based on sales for all stores open at least one year. Constant
Currency same store sales exclude the impact of fluctuations of
foreign currency exchange rates by converting both the current year
and prior year international results at the prior year foreign
currency exchange rate. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory Statistics (Total Stores) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as
of |
|
|
as
of |
|
|
|
|
|
|
|
|
|
|
|
|
February 10, 2024 |
|
|
February 11, 2023 |
|
|
|
|
|
|
|
Accounts payable/inventory |
|
|
|
119.8 |
% |
|
|
|
127.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
|
|
$ |
5,970,175 |
|
|
|
$ |
5,731,255 |
|
|
|
|
|
|
|
|
Inventory per store |
|
|
|
830 |
|
|
|
|
817 |
|
|
|
|
|
|
|
|
Net inventory (net of payables) |
|
|
|
(1,179,707 |
) |
|
|
|
(1,590,296 |
) |
|
|
|
|
|
|
|
Net inventory/per store |
|
|
|
(164 |
) |
|
|
|
(227 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5
Quarters |
|
|
|
|
|
|
|
|
|
|
|
|
February 10, 2024 |
|
|
February 11, 2023 |
|
|
|
|
|
|
|
Inventory turns |
|
|
|
1.4 |
|
x |
|
|
1.5 |
|
x |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grafico Azioni AutoZone (NYSE:AZO)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni AutoZone (NYSE:AZO)
Storico
Da Giu 2023 a Giu 2024