AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.1 billion
for its third quarter (12 weeks) ended May 6, 2023, an increase of
5.8% from the third quarter of fiscal 2022 (12 weeks). Domestic
same store sales, or sales for stores open at least one year,
increased 1.9% for the quarter.
“I would like to congratulate and thank our entire organization
for delivering solid earnings in our third fiscal quarter. The hard
work of our AutoZoners and their dedication to providing superior
customer service, again drove our quarterly performance. While
weaker than expected sales for the month of March meaningfully
affected our results this quarter, we are excited about our
initiatives and believe we are well positioned for future growth,”
said Bill Rhodes, Chairman, President and Chief Executive
Officer.
For the quarter, gross profit, as a percentage of sales, was
52.5%, an increase of 56 basis points versus the prior year. The
increase in gross margin was impacted by a 42 basis point ($17
million) non-cash LIFO benefit, with the remaining leverage
primarily from higher merchandise margins. Operating expenses, as a
percentage of sales, were 31.5% versus last year at 31.6%.
Operating profit increased 9.3% to $858.5 million. Net income
for the quarter increased 9.3% over the same period last year to
$647.7 million, while diluted earnings per share increased 17.5% to
$34.12 from $29.03 in the year-ago quarter.
Under its share repurchase program, AutoZone repurchased 356
thousand shares of its common stock for $908.2 million during the
third quarter, at an average price of $2,551 per share. At the end
of the third quarter, the Company had $843.6 million remaining
under its current share repurchase authorization.
The Company’s inventory increased 7.4% over the same period last
year, driven by inflation and its growth initiatives. Net
inventory, defined as merchandise inventories less accounts
payable, on a per store basis, was negative $215 thousand versus
negative $216 thousand last year and negative $227 thousand last
quarter.
During the quarter ended May 6, 2023, AutoZone opened 22 new
stores in the U.S., six in Mexico and two in Brazil. As of May 6,
2023, the Company had 6,248 stores in the U.S., 713 in Mexico and
83 in Brazil for a total store count of
7,044. 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 trucks, including new and remanufactured automotive hard
parts, maintenance items, accessories, and non-automotive products.
Many stores also 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 and public sector accounts. We also have commercial
programs in the majority of our stores in Mexico and Brazil.
AutoZone also sells the ALLDATA brand automotive diagnostic, repair
and shop management software through www.alldata.com. Additionally,
we sell 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. 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, May
23, 2023, beginning at 10:00 a.m. (ET) to discuss its third quarter
results. This call is being web cast and can be accessed, along
with supporting slides, at AutoZone’s website at www.autozone.com
and 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 48303 through June 6, 2023.
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; 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; 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 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 27, 2022, and Part II, Item 1A, of our
Quarterly Report on Form 10-Q for the quarterly period ended
November 19, 2022. 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.comMedia: David McKinney at (901) 495-7951,
david.mckinney@autozone.com
AutoZone's 3rd
Quarter Highlights - Fiscal 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
3rd Quarter, FY2023 |
|
|
|
|
|
|
|
(in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
GAAP Results |
|
|
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
|
|
|
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
4,090,541 |
|
|
$ |
3,865,222 |
|
|
|
|
Cost of sales |
|
|
1,944,415 |
|
|
|
1,858,808 |
|
|
|
|
Gross profit |
|
|
2,146,126 |
|
|
|
2,006,414 |
|
|
|
|
Operating, SG&A expenses |
|
|
1,287,645 |
|
|
|
1,220,744 |
|
|
|
|
Operating profit (EBIT) |
|
|
858,481 |
|
|
|
785,670 |
|
|
|
|
Interest expense, net |
|
|
74,313 |
|
|
|
41,888 |
|
|
|
|
Income before taxes |
|
|
784,168 |
|
|
|
743,782 |
|
|
|
|
Income tax expense |
|
|
136,445 |
|
|
|
151,211 |
|
|
|
|
Net income |
|
$ |
647,723 |
|
|
$ |
592,571 |
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
Basic |
|
$ |
35.22 |
|
|
$ |
29.93 |
|
|
|
|
Diluted |
|
$ |
34.12 |
|
|
$ |
29.03 |
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
|
18,389 |
|
|
|
19,798 |
|
|
|
|
Diluted |
|
|
18,983 |
|
|
|
20,414 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-To-Date 3rd Quarter, FY2023 |
|
|
|
|
|
|
|
(in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
GAAP Results |
|
|
|
|
|
|
|
36 Weeks
Ended |
|
36 Weeks
Ended |
|
|
|
|
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
11,766,591 |
|
|
$ |
10,903,875 |
|
|
|
|
Cost of sales |
|
|
5,695,840 |
|
|
|
5,187,075 |
|
|
|
|
Gross profit |
|
|
6,070,751 |
|
|
|
5,716,800 |
|
|
|
|
Operating, SG&A expenses |
|
|
3,819,261 |
|
|
|
3,549,885 |
|
|
|
|
Operating profit (EBIT) |
|
|
2,251,490 |
|
|
|
2,166,915 |
|
|
|
|
Interest expense, net |
|
|
197,645 |
|
|
|
127,642 |
|
|
|
|
Income before taxes |
|
|
2,053,845 |
|
|
|
2,039,273 |
|
|
|
|
Income tax expense |
|
|
390,260 |
|
|
|
419,712 |
|
|
|
|
Net income |
|
$ |
1,663,585 |
|
|
$ |
1,619,561 |
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
Basic |
|
$ |
88.96 |
|
|
$ |
79.26 |
|
|
|
|
Diluted |
|
$ |
86.10 |
|
|
$ |
76.90 |
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
|
18,700 |
|
|
|
20,433 |
|
|
|
|
Diluted |
|
|
19,322 |
|
|
|
21,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Balance Sheet Information |
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
August 27, 2022 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
274,916 |
|
|
$ |
263,044 |
|
|
$ |
264,380 |
|
|
Merchandise inventories |
|
|
5,703,688 |
|
|
|
5,313,114 |
|
|
|
5,638,004 |
|
|
Current assets |
|
|
6,708,872 |
|
|
|
6,254,721 |
|
|
|
6,627,984 |
|
|
Property and equipment, net |
|
|
5,334,023 |
|
|
|
4,971,626 |
|
|
|
5,170,419 |
|
|
Operating lease right-of-use assets |
|
|
2,959,488 |
|
|
|
2,764,631 |
|
|
|
2,918,817 |
|
|
Total assets |
|
|
15,597,922 |
|
|
|
14,520,565 |
|
|
|
15,275,043 |
|
|
Accounts payable |
|
|
7,215,566 |
|
|
|
6,793,205 |
|
|
|
7,301,347 |
|
|
Current liabilities |
|
|
8,464,947 |
|
|
|
8,064,076 |
|
|
|
8,588,393 |
|
|
Operating lease liabilities, less current portion |
|
|
2,862,152 |
|
|
|
2,659,535 |
|
|
|
2,837,973 |
|
|
Total debt |
|
|
7,340,484 |
|
|
|
6,057,444 |
|
|
|
6,122,092 |
|
|
Stockholders' deficit |
|
|
(4,301,577 |
) |
|
|
(3,387,230 |
) |
|
|
(3,538,913 |
) |
|
Working capital |
|
|
(1,756,075 |
) |
|
|
(1,809,355 |
) |
|
|
(1,960,409 |
) |
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 3rd Quarter Highlights - Fiscal
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Debt / EBITDAR |
|
|
|
|
|
|
|
|
|
|
|
(in thousands, except adjusted debt to EBITDAR ratio) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
|
|
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
|
|
|
|
Net income |
|
|
$ |
2,473,628 |
|
|
$ |
2,405,332 |
|
|
|
|
|
|
|
|
Add: Interest expense |
|
|
261,641 |
|
|
|
185,762 |
|
|
|
|
|
|
|
|
Income tax expense |
|
|
620,035 |
|
|
|
619,851 |
|
|
|
|
|
|
|
|
EBIT |
|
|
|
|
3,355,304 |
|
|
|
3,210,945 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Depreciation and amortization |
|
|
479,945 |
|
|
|
431,004 |
|
|
|
|
|
|
|
|
Rent expense(1) |
|
|
403,412 |
|
|
|
360,076 |
|
|
|
|
|
|
|
|
Share-based expense |
|
|
83,943 |
|
|
|
67,109 |
|
|
|
|
|
|
|
|
EBITDAR |
|
|
$ |
4,322,604 |
|
|
$ |
4,069,134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
$ |
7,340,484 |
|
|
$ |
6,057,444 |
|
|
|
|
|
|
|
|
Financing lease liabilities |
|
|
284,896 |
|
|
|
288,483 |
|
|
|
|
|
|
|
|
Add: Rent x 6(1) |
|
|
2,420,472 |
|
|
|
2,160,456 |
|
|
|
|
|
|
|
|
Adjusted debt |
|
$ |
10,045,852 |
|
|
$ |
8,506,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted debt to EBITDAR |
|
|
2.3 |
|
|
|
2.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Return on Invested Capital (ROIC) |
|
|
|
|
|
|
|
|
|
|
|
(in thousands, except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
|
|
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
|
|
|
|
Net income |
|
|
$ |
2,473,628 |
|
|
$ |
2,405,332 |
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
261,641 |
|
|
|
185,762 |
|
|
|
|
|
|
|
|
Rent expense(1) |
|
|
403,412 |
|
|
|
360,076 |
|
|
|
|
|
|
|
|
Tax effect(2) |
|
|
(133,010 |
) |
|
|
(111,896 |
) |
|
|
|
|
|
|
|
Adjusted after-tax return |
|
$ |
3,005,671 |
|
|
$ |
2,839,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average debt(3) |
|
$ |
6,578,133 |
|
|
$ |
5,541,462 |
|
|
|
|
|
|
|
|
Average stockholders' deficit(3) |
|
|
(3,849,963 |
) |
|
|
(2,442,077 |
) |
|
|
|
|
|
|
|
Add: Rent x 6(1) |
|
|
2,420,472 |
|
|
|
2,160,456 |
|
|
|
|
|
|
|
|
Average financing lease liabilities(3) |
|
|
296,772 |
|
|
|
268,111 |
|
|
|
|
|
|
|
|
Invested capital |
|
$ |
5,445,414 |
|
|
$ |
5,527,952 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted After-Tax ROIC |
|
|
55.2 |
% |
|
|
51.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 May 6, 2023 and May 7, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
(in thousands) |
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
|
|
|
|
Total lease cost, per ASC 842 |
|
$ |
513,857 |
|
|
$ |
451,601 |
|
|
|
|
|
|
|
|
Less: Financing lease interest and amortization |
|
|
(81,871 |
) |
|
|
(65,128 |
) |
|
|
|
|
|
|
|
Less:
Variable operating lease components, related to insurance and
common area maintenance |
|
|
|
|
|
(28,574 |
) |
|
|
(26,397 |
) |
|
|
|
|
|
|
|
Rent expense |
|
$ |
403,412 |
|
|
$ |
360,076 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)Effective tax rate
over trailing four quarters ended May 6, 2023 and May 7, 2022 was
20.0% and 20.5%, respectively |
|
|
|
|
|
|
|
(3)All averages are
computed based on trailing five quarter balances |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Selected Financial Information |
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
|
|
|
|
Cumulative share repurchases ($ since fiscal 1998) |
|
$ |
32,806,437 |
|
|
$ |
29,092,425 |
|
|
|
|
|
|
|
|
Remaining share repurchase authorization ($) |
|
|
843,563 |
|
|
|
2,057,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases (shares since fiscal 1998) |
|
|
153,629 |
|
|
|
152,035 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding, end of quarter |
|
|
18,225 |
|
|
|
19,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
|
|
36 Weeks
Ended |
|
36 Weeks
Ended |
|
|
|
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
May 6, 2023 |
|
May 7, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
116,123 |
|
|
$ |
102,083 |
|
|
|
|
$ |
339,087 |
|
$ |
301,365 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow from operations |
|
|
724,715 |
|
|
|
843,368 |
|
|
|
|
|
1,872,776 |
|
|
1,983,114 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital spending |
|
|
171,207 |
|
|
|
161,207 |
|
|
|
|
|
430,441 |
|
|
369,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 3rd Quarter Highlights - Fiscal
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
Selected Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store Count & Square Footage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
|
|
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
|
|
6,226 |
|
|
|
|
6,091 |
|
|
|
|
6,168 |
|
|
|
|
6,051 |
|
|
|
Stores
opened |
|
|
|
|
22 |
|
|
|
|
24 |
|
|
|
|
80 |
|
|
|
|
65 |
|
|
|
Stores
closed |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
(1 |
) |
|
|
Ending
domestic stores |
|
|
|
|
6,248 |
|
|
|
|
6,115 |
|
|
|
|
6,248 |
|
|
|
|
6,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated
stores |
|
|
|
|
1 |
|
|
|
|
4 |
|
|
|
|
5 |
|
|
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with
commercial programs |
|
|
|
|
5,526 |
|
|
|
|
5,276 |
|
|
|
|
5,526 |
|
|
|
|
5,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square
footage (in thousands) |
|
|
|
|
41,253 |
|
|
|
|
40,230 |
|
|
|
|
41,253 |
|
|
|
|
40,230 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
|
|
707 |
|
|
|
|
669 |
|
|
|
|
703 |
|
|
|
|
664 |
|
|
|
Stores
opened |
|
|
|
|
6 |
|
|
|
|
4 |
|
|
|
|
10 |
|
|
|
|
9 |
|
|
|
Ending
Mexico stores |
|
|
|
|
713 |
|
|
|
|
673 |
|
|
|
|
713 |
|
|
|
|
673 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
|
|
81 |
|
|
|
|
55 |
|
|
|
|
72 |
|
|
|
|
52 |
|
|
|
Stores
opened |
|
|
|
|
2 |
|
|
|
|
3 |
|
|
|
|
11 |
|
|
|
|
6 |
|
|
|
Ending
Brazil stores |
|
|
|
|
83 |
|
|
|
|
58 |
|
|
|
|
83 |
|
|
|
|
58 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
7,044 |
|
|
|
|
6,846 |
|
|
|
|
7,044 |
|
|
|
|
6,846 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square
footage (in thousands) |
|
|
|
|
47,191 |
|
|
|
|
45,680 |
|
|
|
|
47,191 |
|
|
|
|
45,680 |
|
|
|
Square
footage per store |
|
|
|
|
6,699 |
|
|
|
|
6,673 |
|
|
|
|
6,699 |
|
|
|
|
6,673 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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) |
|
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
|
Sales per
average store |
|
|
|
$ |
571 |
|
|
|
$ |
556 |
|
|
|
$ |
2,421 |
|
|
|
$ |
2,301 |
|
|
|
Sales per
average square foot |
|
|
|
$ |
85 |
|
|
|
$ |
83 |
|
|
|
$ |
362 |
|
|
|
$ |
346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Auto Parts (Domestic, Mexico and
Brazil) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total auto
parts sales |
|
|
|
$ |
4,016,692 |
|
|
|
$ |
3,795,290 |
|
|
|
$ |
16,811,885 |
|
|
|
$ |
15,537,156 |
|
|
|
%
Increase vs. LY |
|
|
|
|
5.8 |
% |
|
|
|
5.7 |
% |
|
|
|
8.2 |
% |
|
|
|
10.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
domestic commercial sales |
|
|
|
$ |
1,110,476 |
|
|
|
$ |
1,044,293 |
|
|
|
$ |
4,541,729 |
|
|
|
$ |
3,970,727 |
|
|
|
%
Increase vs. LY |
|
|
|
|
6.3 |
% |
|
|
|
26.0 |
% |
|
|
|
14.4 |
% |
|
|
|
26.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
sales per program per week |
|
|
|
$ |
16.8 |
|
|
|
$ |
16.6 |
|
|
|
$ |
16.2 |
|
|
|
$ |
14.7 |
|
|
|
%
Increase vs. LY |
|
|
|
|
1.2 |
% |
|
|
|
23.0 |
% |
|
|
|
10.2 |
% |
|
|
|
22.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other, including ALLDATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All other
sales |
|
|
|
$ |
73,849 |
|
|
|
$ |
69,932 |
|
|
|
$ |
303,061 |
|
|
|
$ |
280,203 |
|
|
|
%
Increase vs. LY |
|
|
|
|
5.6 |
% |
|
|
|
15.1 |
% |
|
|
|
8.2 |
% |
|
|
|
18.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
|
|
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
Domestic same store sales |
|
|
|
|
1.9 |
% |
|
|
|
2.6 |
% |
|
|
|
4.2 |
% |
|
|
|
9.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory Statistics (Total Stores) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as
of |
|
|
as
of |
|
|
|
|
|
|
|
|
|
|
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
|
|
|
|
|
|
|
Accounts
payable/inventory |
|
|
|
|
126.5 |
% |
|
|
|
127.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
|
|
$ |
5,703,688 |
|
|
|
$ |
5,313,114 |
|
|
|
|
|
|
|
|
|
Inventory
per store |
|
|
|
|
810 |
|
|
|
|
776 |
|
|
|
|
|
|
|
|
|
Net
inventory (net of payables) |
|
|
|
|
(1,511,878 |
) |
|
|
|
(1,480,091 |
) |
|
|
|
|
|
|
|
|
Net
inventory/per store |
|
|
|
|
(215 |
) |
|
|
|
(216 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5
Quarters |
|
|
|
|
|
|
|
|
|
|
|
|
May 6, 2023 |
|
|
May 7, 2022 |
|
|
|
|
|
|
|
|
Inventory
turns |
|
|
|
|
1.5 |
|
x |
|
|
1.5 |
|
x |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone (NYSE:AZO)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
AutoZone (NYSE:AZO)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024