AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.2 billion
for its first quarter (12 weeks) ended November 18, 2023, an
increase of 5.1% from the first 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 |
|
12 Weeks |
|
12 Weeks* |
|
|
|
|
Domestic |
1.2 |
% |
|
1.2 |
% |
International |
25.1 |
% |
|
10.9 |
% |
Total
Company |
3.4 |
% |
|
2.1 |
% |
* Excludes impacts from fluctuations of foreign exchange
rates. |
|
|
|
For the quarter, gross profit, as a percentage of sales, was
52.8%, an increase of 279 basis points versus the prior year. The
increase in gross margin was driven by 208 basis point ($83 million
net) non-cash LIFO favorability, with the remaining leverage
primarily from favorable supply chain costs and higher merchandise
margins. Operating expenses, as a percentage of sales, were 32.6%
versus last year at 31.9%. Deleverage was primarily driven by
domestic store payroll and investment in technology related
initiatives.
Operating profit increased 17.4% to $848.6 million. Net income
for the quarter increased 10.0% over the same period last year to
$593.5 million, while diluted earnings per share increased 18.6% to
$32.55.
Under its share repurchase program, AutoZone repurchased 580
thousand shares of its common stock at an average price per share
of $2,590, for a total investment of $1.5 billion. Excise tax on
shares repurchased, assessed at one percent of the fair market
value of net shares repurchased, was $14.4 million for the first
quarter. Since the inception of the share repurchase program, the
Company has repurchased a total of 155 million shares of its common
stock, at an average price of $228, for a total investment of $35.3
billion. At the end of the first quarter, the Company had $333.1
million remaining under its current share repurchase
authorization.
The Company’s inventory increased 3.0% 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 $197 thousand versus negative $249 thousand
last year and negative $201 thousand last quarter.
“I want to thank all AutoZoners across the company for
their efforts during our first fiscal quarter. The commitment to
superior service resulted in our ability to deliver strong
financial results. Our domestic sales results were solid
despite tough comparisons from a year ago, while our international
business continues to deliver exceptionally strong sales
growth. We remain committed to driving sales and earnings
growth throughout fiscal 2024, while returning cash to our
shareholders,” said Bill Rhodes,
Chairman, President and Chief Executive Officer.
During the quarter ended November 18, 2023, AutoZone opened 17
new stores and closed one in the U.S., five new stores in Mexico
and four in Brazil for a total of 25 net new stores. As of November
18, 2023, the Company had 6,316 stores in the U.S., 745 in Mexico
and 104 in Brazil for a total store count of 7,165.
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,
December 5, 2023, beginning at 10:00 a.m. (ET) to discuss its first
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 49343 through December 19,
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 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 1st
Quarter Highlights - Fiscal 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
1st
Quarter, FY2024 |
|
|
|
|
|
|
|
|
|
(in
thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Results |
|
|
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
|
|
|
|
|
|
November 18, 2023 |
|
November 19, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
sales |
|
|
|
$ |
4,190,277 |
|
|
$ |
3,985,067 |
|
|
|
|
Cost of
sales |
|
|
|
|
1,976,261 |
|
|
|
1,990,445 |
|
|
|
|
Gross
profit |
|
|
|
|
2,214,016 |
|
|
|
1,994,622 |
|
|
|
|
Operating,
SG&A expenses |
|
|
|
|
1,365,412 |
|
|
|
1,271,589 |
|
|
|
|
Operating
profit (EBIT) |
|
|
|
|
848,604 |
|
|
|
723,033 |
|
|
|
|
Interest
expense, net |
|
|
|
|
91,384 |
|
|
|
57,723 |
|
|
|
|
Income
before taxes |
|
|
|
|
757,220 |
|
|
|
665,310 |
|
|
|
|
Income tax
expense |
|
|
|
|
163,757 |
|
|
|
125,992 |
|
|
|
|
Net
income |
|
|
|
$ |
593,463 |
|
|
$ |
539,318 |
|
|
|
|
Net income
per share: |
|
|
|
|
|
|
|
|
|
Basic |
|
|
|
$ |
33.51 |
|
|
$ |
28.37 |
|
|
|
|
Diluted |
|
|
|
$ |
32.55 |
|
|
$ |
27.45 |
|
|
|
|
Weighted
average shares outstanding: |
|
|
|
|
|
|
|
|
|
Basic |
|
|
|
|
17,709 |
|
|
|
19,007 |
|
|
|
|
Diluted |
|
|
|
|
18,234 |
|
|
|
19,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Balance Sheet Information |
|
|
|
|
|
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
November 18, 2023 |
|
November 19, 2022 |
|
August 26, 2023 |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
|
$ |
282,981 |
|
|
$ |
269,790 |
|
|
$ |
277,054 |
|
|
Merchandise
inventories |
|
|
|
|
5,774,467 |
|
|
|
5,607,690 |
|
|
|
5,764,143 |
|
|
Current
assets |
|
|
|
|
6,956,801 |
|
|
|
6,633,118 |
|
|
|
6,779,426 |
|
|
Property and
equipment, net |
|
|
|
|
5,713,157 |
|
|
|
5,194,546 |
|
|
|
5,596,548 |
|
|
Operating
lease right-of-use assets |
|
|
|
|
2,998,672 |
|
|
|
2,922,148 |
|
|
|
2,998,097 |
|
|
Total
assets |
|
|
|
|
16,292,570 |
|
|
|
15,315,933 |
|
|
|
15,985,878 |
|
|
Accounts
payable |
|
|
|
|
7,182,948 |
|
|
|
7,345,981 |
|
|
|
7,201,281 |
|
|
Current
liabilities |
|
|
|
|
8,785,622 |
|
|
|
8,708,989 |
|
|
|
8,511,856 |
|
|
Operating
lease liabilities, less current portion |
|
|
|
|
2,910,727 |
|
|
|
2,838,433 |
|
|
|
2,917,046 |
|
|
Total
debt |
|
|
|
|
8,583,523 |
|
|
|
6,328,344 |
|
|
|
7,668,549 |
|
|
Stockholders' deficit |
|
|
|
|
(5,213,671 |
) |
|
|
(3,837,923 |
) |
|
|
(4,349,894 |
) |
|
Working
capital |
|
|
|
|
(1,828,821 |
) |
|
|
(2,075,871 |
) |
|
|
(1,732,430 |
) |
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 1st Quarter Highlights - Fiscal
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Debt / EBITDAR |
|
|
|
|
|
|
|
|
(in
thousands, except adjusted debt to EBITDAR ratio) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
November 18, 2023 |
|
November 19, 2022 |
|
Net income |
|
|
|
|
$ |
2,582,571 |
|
|
$ |
2,413,687 |
|
|
Add:
Interest expense |
|
|
|
|
|
340,033 |
|
|
|
206,077 |
|
|
Income tax expense |
|
|
|
|
|
676,953 |
|
|
|
619,513 |
|
|
EBIT |
|
|
|
|
|
3,599,557 |
|
|
|
3,239,277 |
|
|
|
|
|
|
|
|
|
|
|
Add:
Depreciation and amortization |
|
|
|
|
|
508,548 |
|
|
|
451,886 |
|
|
Rent expense(1) |
|
|
|
|
|
412,210 |
|
|
|
383,880 |
|
|
Share-based expense |
|
|
|
|
|
96,995 |
|
|
|
75,322 |
|
|
EBITDAR |
|
|
|
|
$ |
4,617,310 |
|
|
$ |
4,150,365 |
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
$ |
8,583,523 |
|
|
$ |
6,328,344 |
|
|
Financing
lease liabilities |
|
|
|
|
|
285,145 |
|
|
|
309,320 |
|
|
Add: Rent x
6(1) |
|
|
|
|
|
2,473,260 |
|
|
|
2,303,280 |
|
|
Adjusted
debt |
|
|
|
|
$ |
11,341,928 |
|
|
$ |
8,940,944 |
|
|
|
|
|
|
|
|
|
|
|
Adjusted debt to EBITDAR |
|
|
|
|
|
2.5 |
|
|
|
2.2 |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Return on Invested Capital (ROIC) |
|
|
|
|
|
|
|
|
(in
thousands, except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
November 18, 2023 |
|
November 19, 2022 |
|
Net
income |
|
|
|
|
$ |
2,582,571 |
|
|
$ |
2,413,687 |
|
|
Adjustments: |
|
|
|
|
|
|
|
|
Interest expense |
|
|
|
|
|
340,033 |
|
|
|
206,077 |
|
|
Rent expense(1) |
|
|
|
|
|
412,210 |
|
|
|
383,880 |
|
|
Tax effect(2) |
|
|
|
|
|
(156,466 |
) |
|
|
(120,351 |
) |
|
Adjusted
after-tax return |
|
|
|
|
$ |
3,178,348 |
|
|
$ |
2,883,293 |
|
|
|
|
|
|
|
|
|
|
|
Average
debt(3) |
|
|
|
|
$ |
7,392,640 |
|
|
$ |
5,924,006 |
|
|
Average
stockholders' deficit(3) |
|
|
|
|
|
(4,377,447 |
) |
|
|
(3,205,259 |
) |
|
Add: Rent x
6(1) |
|
|
|
|
|
2,473,260 |
|
|
|
2,303,280 |
|
|
Average
financing lease liabilities(3) |
|
|
|
|
|
291,567 |
|
|
|
291,106 |
|
|
Invested
capital |
|
|
|
|
$ |
5,780,020 |
|
|
$ |
5,313,133 |
|
|
|
|
|
|
|
|
|
|
|
Adjusted After-Tax ROIC |
|
|
|
|
|
55.0 |
% |
|
|
54.3 |
% |
|
|
|
|
|
|
|
|
|
|
(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 November 18, 2023 and November 19, 2022. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
(in thousands) |
|
|
|
|
November 18, 2023 |
|
November 19, 2022 |
|
Total lease
cost, per ASC 842 |
|
|
|
|
$ |
536,217 |
|
|
$ |
483,867 |
|
|
Less:
Financing lease interest and amortization |
|
|
|
|
|
(90,864 |
) |
|
|
(72,400 |
) |
|
Less:
Variable operating lease components, related to insurance and
common area maintenance |
|
|
|
|
|
(33,143 |
) |
|
|
(27,587 |
) |
|
Rent
expense |
|
|
|
|
$ |
412,210 |
|
|
$ |
383,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Effective tax rate
over the trailing four quarters ended November 18, 2023 and
November 19, 2022 is 20.8% and 20.4%, respectively. |
|
(3)All averages are
computed based on trailing five quarter balances. |
|
|
|
|
|
|
|
|
|
|
Other Selected Financial Information |
|
|
|
|
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
November 18, 2023 |
|
November 19, 2022 |
|
Cumulative
share repurchases ($ since fiscal 1998) |
|
|
|
|
$ |
35,316,947 |
|
|
$ |
30,992,420 |
|
|
Remaining
share repurchase authorization ($) |
|
|
|
|
|
333,053 |
|
|
|
2,657,580 |
|
|
|
|
|
|
|
|
|
|
|
Cumulative
share repurchases (shares since fiscal 1998) |
|
|
|
|
|
154,612 |
|
|
|
152,901 |
|
|
|
|
|
|
|
|
|
|
|
Shares
outstanding, end of quarter |
|
|
|
|
|
17,326 |
|
|
|
18,797 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
|
|
|
|
|
November 18, 2023 |
|
November 19, 2022 |
|
|
|
|
|
|
|
|
|
|
Depreciation
and amortization |
|
|
|
|
$ |
120,224 |
|
|
$ |
109,253 |
|
|
|
|
|
|
|
|
|
|
|
Cash flow
from operations |
|
|
|
|
|
830,259 |
|
|
|
793,587 |
|
|
|
|
|
|
|
|
|
|
|
Capital
spending |
|
|
|
|
|
235,428 |
|
|
|
114,397 |
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 1st
Quarter Highlights - Fiscal
2024 |
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
Selected Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store Count & Square Footage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
|
|
|
|
|
|
|
|
|
|
November 18, 2023 |
|
|
November 19, 2022 |
|
|
|
|
|
|
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
6,300 |
|
|
|
|
6,168 |
|
|
|
|
|
|
|
|
|
|
|
Stores
opened |
|
|
17 |
|
|
|
|
28 |
|
|
|
|
|
|
|
|
|
|
|
Stores
closed |
|
|
(1 |
) |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
Ending
domestic stores |
|
|
6,316 |
|
|
|
|
6,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated
stores |
|
|
- |
|
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with
commercial programs |
|
|
5,803 |
|
|
|
|
5,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square
footage (in thousands) |
|
|
41,749 |
|
|
|
|
40,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
740 |
|
|
|
|
703 |
|
|
|
|
|
|
|
|
|
|
|
Stores
opened |
|
|
5 |
|
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
Ending
Mexico stores |
|
|
745 |
|
|
|
|
706 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
100 |
|
|
|
|
72 |
|
|
|
|
|
|
|
|
|
|
|
Stores
opened |
|
|
4 |
|
|
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
Ending
Brazil stores |
|
|
104 |
|
|
|
|
76 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
7,165 |
|
|
|
|
6,978 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Company stores opened, net |
|
|
25 |
|
|
|
|
35 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square
footage (in thousands) |
|
|
48,062 |
|
|
|
|
46,708 |
|
|
|
|
|
|
|
|
|
|
|
Square
footage per store |
|
|
6,708 |
|
|
|
|
6,694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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) |
November 18, 2023 |
|
|
November 19, 2022 |
|
|
November 18, 2023 |
|
|
November 19, 2022 |
|
|
|
|
Sales per average store |
|
$ |
575 |
|
|
|
$ |
563 |
|
|
|
$ |
2,453 |
|
|
|
$ |
2,365 |
|
|
|
|
|
Sales per
average square foot |
|
$ |
86 |
|
|
|
$ |
84 |
|
|
|
$ |
366 |
|
|
|
$ |
354 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto Parts (Domestic, Mexico and Brazil) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total auto
parts sales |
|
$ |
4,115,694 |
|
|
|
$ |
3,915,907 |
|
|
|
$ |
17,344,925 |
|
|
|
$ |
16,273,595 |
|
|
|
|
|
%
Increase vs. LY |
|
|
5.1 |
% |
|
|
|
8.6 |
% |
|
|
|
6.6 |
% |
|
|
|
9.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
domestic commercial sales |
|
$ |
1,092,920 |
|
|
|
$ |
1,034,356 |
|
|
|
$ |
4,657,020 |
|
|
|
$ |
4,364,852 |
|
|
|
|
|
%
Increase vs. LY |
|
|
5.7 |
% |
|
|
|
14.9 |
% |
|
|
|
6.7 |
% |
|
|
|
23.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
sales per program per week |
|
$ |
15.9 |
|
|
|
$ |
16.0 |
|
|
|
$ |
15.9 |
|
|
|
$ |
15.7 |
|
|
|
|
|
%
Increase vs. LY |
|
|
(0.6 |
%) |
|
|
|
11.1 |
% |
|
|
|
1.3 |
% |
|
|
|
18.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other, including ALLDATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All other
sales |
|
$ |
74,583 |
|
|
|
$ |
69,160 |
|
|
|
$ |
317,493 |
|
|
|
$ |
294,800 |
|
|
|
|
|
%
Increase vs. LY |
|
|
7.8 |
% |
|
|
|
9.1 |
% |
|
|
|
7.7 |
% |
|
|
|
14.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
|
|
|
|
|
Same store sales(4) |
|
November 18, 2023 |
|
|
November 19, 2022 |
|
|
|
|
|
|
|
|
|
|
Domestic |
|
|
1.2 |
% |
|
|
|
5.6 |
% |
|
|
|
|
|
|
|
|
|
|
International |
|
|
25.1 |
% |
|
|
|
23.3 |
% |
|
|
|
|
|
|
|
|
|
|
Total
Company |
|
|
3.4 |
% |
|
|
|
7.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International - Constant Currency |
|
|
10.9 |
% |
|
|
|
20.8 |
% |
|
|
|
|
|
|
|
|
|
|
Total
Company - Constant Currency |
|
|
2.1 |
% |
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
November 18, 2023 |
|
|
November 19, 2022 |
|
|
|
|
|
|
|
|
|
|
Accounts
payable/inventory |
|
|
124.4 |
% |
|
|
|
131.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
$ |
5,774,467 |
|
|
|
$ |
5,607,690 |
|
|
|
|
|
|
|
|
|
|
|
Inventory
per store |
|
|
806 |
|
|
|
|
804 |
|
|
|
|
|
|
|
|
|
|
|
Net
inventory (net of payables) |
|
|
(1,408,481 |
) |
|
|
|
(1,738,291 |
) |
|
|
|
|
|
|
|
|
|
|
Net
inventory/per store |
|
|
(197 |
) |
|
|
|
(249 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5
Quarters |
|
|
|
|
|
|
|
|
|
|
|
|
November 18, 2023 |
|
|
November 19, 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