AutoZone, Inc. (NYSE: AZO) today reported net sales of $3.7 billion
for its first quarter (12 weeks) ended November 20, 2021, an
increase of 16.3% from the first quarter of fiscal 2021 (12 weeks).
Domestic same store sales, or sales for stores open at least one
year, increased 13.6% for the quarter.
“Our strong sales and earnings this first quarter are a
continuing testament to our AutoZoners’ commitment to going the
extra mile for our customers. Our retail and commercial sales
performance were consistently strong all quarter. Our commercial
business growth continues to be exceptionally strong at 29.4%
as the investments we are making are positioning us well in
the marketplace. We are optimistic about our growth prospects for
the balance of the fiscal year,” said Bill Rhodes, Chairman,
President and Chief Executive Officer.
For the quarter, gross profit, as a percentage of sales, was
52.5%, a decrease of 65 basis points versus the prior year. The
decrease in gross margin was primarily driven by initiatives to
accelerate Commercial business growth. Operating expenses, as a
percentage of sales, was 31.9% versus 33.6% last year. The decrease
in operating expenses, as a percentage of sales, was driven by
strong sales growth.
Operating profit increased 22.6% to $754.5 million. Net income
for the quarter increased 25.5% over the same period last year to
$555.2 million, while diluted earnings per share increased 38.1% to
$25.69 from $18.61 in the year-ago quarter. The increase in net
income was driven by strong topline growth and operating expense
leverage.
Under its share repurchase program, AutoZone repurchased 515
thousand shares of its common stock for $900 million during the
first quarter, at an average price of $1,749 per share. At the end
of the first quarter, the Company had $1.018 billion remaining
under its current share repurchase authorization.
The Company’s inventory increased 3.0% over the same period last
year, driven by new stores. Net inventory, defined as merchandise
inventories less accounts payable, on a per store basis, was
negative $207 thousand versus negative $99 thousand last year and
negative $203 thousand last quarter.“While the COVID-19 pandemic
continues to impact our customers’ and AutoZoners’ lives, our
primary focus remains the well-being and safety of our customers
and AutoZoners. We will continue to invest to make our stores the
best and safest place to shop for everyone’s automotive needs.
During these unique and challenging times, we will strive to
deliver the best customer service possible. As we continue to
prudently invest capital in our business, we remain committed to
our long-term, disciplined, approach of increasing operating
earnings and cash flow while utilizing our balance sheet
effectively,” said Rhodes.
During the quarter ended November 20, 2021, AutoZone opened 15
new stores in the U.S., two stores in Mexico and one store in
Brazil. As of November 20, 2021, the Company had 6,066 stores in
the U.S., 666 in Mexico and 53 in Brazil for a total store count of
6,785.
AutoZone is the leading retailer, and a leading 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 all 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.
AutoZone will host a conference call this morning, Tuesday,
December 7, 2021, beginning at 10:00 a.m. (EST) 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. In addition, a
telephone replay will be available by dialing (877) 481-4010,
replay passcode 43768 through December 21, 2021.
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 in this press release 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; energy prices; weather; 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,
such as the ongoing global coronavirus pandemic; inflation; the
ability to hire, train and retain qualified employees; construction
delays; the compromising of confidentiality, availability or
integrity of information, including due to cyber-attacks; historic
growth rate sustainability; downgrade of our credit ratings; damage
to our reputation; challenges in international markets; failure or
interruption of our information technology systems; origin and raw
material costs of suppliers; inventory availability; disruption in
our supply chain; impact of tariffs; anticipated impact of new
accounting standards; and 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 28, 2021, 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, and 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 2022 |
|
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|
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|
Condensed
Consolidated Statements of Operations |
|
|
|
|
|
|
1st
Quarter, FY2022 |
|
|
|
|
|
|
(in thousands,
except per share data) |
|
|
|
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|
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|
|
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|
GAAP Results |
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|
|
|
12 Weeks Ended |
|
12 Weeks Ended |
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|
|
|
|
|
November 20, 2021 |
|
November 21, 2020 |
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
3,668,904 |
|
|
$ |
3,154,261 |
|
|
|
Cost of sales |
|
|
1,743,744 |
|
|
|
1,478,644 |
|
|
|
Gross profit |
|
|
1,925,160 |
|
|
|
1,675,617 |
|
|
|
Operating,
SG&A expenses |
|
|
1,170,675 |
|
|
|
1,060,392 |
|
|
|
Operating profit
(EBIT) |
|
|
754,485 |
|
|
|
615,225 |
|
|
|
Interest expense,
net |
|
|
43,284 |
|
|
|
46,179 |
|
|
|
Income before
taxes |
|
|
711,201 |
|
|
|
569,046 |
|
|
|
Income tax
expense(1) |
|
|
155,966 |
|
|
|
126,613 |
|
|
|
Net income |
|
$ |
555,235 |
|
|
$ |
442,433 |
|
|
|
Net income per
share: |
|
|
|
|
|
|
|
Basic |
|
$ |
26.45 |
|
|
$ |
19.05 |
|
|
|
|
Diluted |
|
$ |
25.69 |
|
|
$ |
18.61 |
|
|
|
Weighted average
shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
|
20,988 |
|
|
|
23,223 |
|
|
|
|
Diluted |
|
|
21,609 |
|
|
|
23,778 |
|
|
|
|
|
|
|
|
|
|
|
|
(1)The twelve weeks
ended November 20, 2021 and the comparable prior year period
include $11.3M and $7.6M in tax benefits from stock option
exercises, respectively |
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|
|
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|
Selected
Balance Sheet Information |
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|
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
|
|
November 20, 2021 |
|
November 21, 2020 |
|
August 28, 2021 |
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents |
|
$ |
961,125 |
|
|
$ |
1,664,005 |
|
|
$ |
1,171,335 |
|
Merchandise
inventories |
|
|
4,768,258 |
|
|
|
4,628,334 |
|
|
|
4,639,813 |
|
Current
assets |
|
|
6,349,146 |
|
|
|
6,836,795 |
|
|
|
6,415,303 |
|
Property and
equipment, net |
|
|
4,857,928 |
|
|
|
4,586,002 |
|
|
|
4,856,891 |
|
Operating lease
right-of-use assets |
|
|
2,717,566 |
|
|
|
2,607,019 |
|
|
|
2,718,712 |
|
Total assets |
|
|
14,460,949 |
|
|
|
14,568,574 |
|
|
|
14,516,199 |
|
Accounts
payable |
|
|
6,171,344 |
|
|
|
5,282,313 |
|
|
|
6,013,924 |
|
Current
liabilities |
|
|
8,087,893 |
|
|
|
6,456,703 |
|
|
|
7,369,754 |
|
Operating lease
liabilities, less current portion |
|
|
2,624,676 |
|
|
|
2,524,008 |
|
|
|
2,632,842 |
|
Total debt |
|
|
5,271,266 |
|
|
|
5,514,874 |
|
|
|
5,269,820 |
|
Stockholders'
deficit |
|
|
(2,124,750 |
) |
|
|
(1,026,980 |
) |
|
|
(1,797,536 |
) |
Working
capital |
|
|
(1,738,747 |
) |
|
|
380,092 |
|
|
|
(954,451 |
) |
|
|
|
|
|
|
|
|
|
AutoZone's
1st Quarter Highlights - Fiscal 2022 |
|
|
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|
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Debt / EBITDAR |
|
|
|
|
|
|
(in thousands,
except adjusted debt to EBITDAR ratio) |
|
Trailing 4 Quarters |
|
|
|
|
|
|
|
November 20, 2021 |
|
November 21, 2020 |
|
|
Net income |
|
|
$ |
2,283,116 |
|
|
$ |
1,825,067 |
|
|
|
Add: Interest
expense |
|
|
192,442 |
|
|
|
203,601 |
|
|
|
Income tax expense |
|
|
608,229 |
|
|
|
504,213 |
|
|
|
EBIT |
|
|
|
|
3,083,787 |
|
|
|
2,532,881 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Depreciation
and amortization |
|
|
417,722 |
|
|
|
397,267 |
|
|
|
Rent expense(1) |
|
|
349,680 |
|
|
|
332,218 |
|
|
|
Share-based expense |
|
|
59,899 |
|
|
|
45,347 |
|
|
|
EBITDAR |
|
|
$ |
3,911,088 |
|
|
$ |
3,307,713 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
$ |
5,271,266 |
|
|
$ |
5,514,874 |
|
|
|
Financing lease
liabilities |
|
|
274,703 |
|
|
|
232,921 |
|
|
|
Add: Rent x
6(1) |
|
|
2,098,080 |
|
|
|
1,993,308 |
|
|
|
Adjusted debt |
|
|
$ |
7,644,049 |
|
|
$ |
7,741,103 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
debt to EBITDAR |
|
|
2.0 |
|
|
|
2.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Return on Invested Capital (ROIC) |
|
|
|
|
|
|
(in thousands,
except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
Trailing 4 Quarters |
|
|
|
|
|
|
|
November 20, 2021 |
|
November 21, 2020 |
|
|
Net income |
|
|
$ |
2,283,116 |
|
|
$ |
1,825,067 |
|
|
|
Adjustments: |
|
|
|
|
|
|
|
Interest expense |
|
|
192,442 |
|
|
|
203,601 |
|
|
|
Rent expense(1) |
|
|
349,680 |
|
|
|
332,218 |
|
|
|
Tax effect(2) |
|
|
|
(113,846 |
) |
|
|
(115,737 |
) |
|
|
Adjusted after-tax
return |
|
$ |
2,711,392 |
|
|
$ |
2,245,149 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
debt(3) |
|
$ |
5,368,050 |
|
|
$ |
5,437,062 |
|
|
|
Average
stockholders' deficit(3) |
|
|
(1,647,246 |
) |
|
|
(1,404,980 |
) |
|
|
Add: Rent x
6(1) |
|
|
2,098,080 |
|
|
|
1,993,308 |
|
|
|
Average financing
lease liabilities(3) |
|
|
247,537 |
|
|
|
214,601 |
|
|
|
Invested
capital |
|
$ |
6,066,421 |
|
|
$ |
6,239,991 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
After-Tax ROIC |
|
|
44.7 |
% |
|
|
36.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
(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 20, 2021 and November 21, 2020 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands) |
|
|
Trailing 4 Quarters |
|
|
|
|
|
|
|
November 20, 2021 |
|
November 21, 2020 |
|
|
Total lease cost, per
ASC 842, for the trailing four quarters |
|
$ |
436,488 |
|
|
$ |
413,790 |
|
|
|
Less: Financing lease
interest and amortization |
|
|
(61,102 |
) |
|
|
(56,256 |
) |
|
|
Less: Variable operating lease
components, related to insurance and common area maintenance |
|
|
|
|
|
(25,706 |
) |
|
|
(25,316 |
) |
|
|
Rent expense for the
trailing four quarters |
|
$ |
349,680 |
|
|
$ |
332,218 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Effective tax
rate over trailing four quarters ended November 20, 2021 and
November 21, 2020 is 21.0% and 21.6%, respectively |
|
|
(3)All averages
are computed based on trailing 5 quarter balances |
|
|
|
|
|
|
|
|
|
|
|
|
Other
Selected Financial Information |
|
|
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
November 20, 2021 |
|
November 21, 2020 |
|
|
Cumulative share
repurchases ($ since fiscal 1998) |
|
$ |
26,632,428 |
|
|
$ |
23,032,434 |
|
|
|
Remaining share
repurchase authorization ($) |
|
|
1,017,572 |
|
|
|
117,566 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share
repurchases (shares since fiscal 1998) |
|
|
150,803 |
|
|
|
148,281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
outstanding, end of quarter |
|
|
20,674 |
|
|
|
22,855 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization |
|
|
99,590 |
|
|
|
89,551 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
spending |
|
|
102,269 |
|
|
|
113,036 |
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone's
1st Quarter Highlights - Fiscal 2022 |
|
|
|
|
|
|
|
|
Selected
Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Store
Count & Square Footage |
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks Ended |
|
|
12 Weeks Ended |
|
|
|
|
|
|
|
|
|
|
|
November 20, 2021 |
|
|
November 21, 2020 |
|
|
|
|
|
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
6,051 |
|
|
|
|
5,885 |
|
|
|
|
|
|
|
|
Stores opened |
|
|
15 |
|
|
|
|
39 |
|
|
|
|
|
|
|
|
Ending domestic
stores |
|
|
6,066 |
|
|
|
|
5,924 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated
stores |
|
|
3 |
|
|
|
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with
commercial programs |
|
|
5,211 |
|
|
|
|
5,043 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in
thousands) |
|
|
39,865 |
|
|
|
|
38,823 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
664 |
|
|
|
|
621 |
|
|
|
|
|
|
|
|
Stores opened |
|
|
2 |
|
|
|
|
- |
|
|
|
|
|
|
|
|
Ending Mexico
stores |
|
|
666 |
|
|
|
|
621 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
stores |
|
|
52 |
|
|
|
|
43 |
|
|
|
|
|
|
|
|
Stores opened |
|
|
1 |
|
|
|
|
2 |
|
|
|
|
|
|
|
|
Ending Brazil
stores |
|
|
53 |
|
|
|
|
45 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
6,785 |
|
|
|
|
6,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in
thousands) |
|
|
45,214 |
|
|
|
|
43,781 |
|
|
|
|
|
|
|
|
Square footage per
store |
|
|
6,664 |
|
|
|
|
6,644 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 20, 2021 |
|
|
November 21, 2020 |
|
|
November 20, 2021 |
|
|
November 21, 2020 |
|
Sales per average store |
|
$ |
532 |
|
|
|
$ |
472 |
|
|
|
$ |
2,226 |
|
|
|
$ |
1,960 |
|
|
Sales per average
square foot |
|
$ |
80 |
|
|
|
$ |
71 |
|
|
|
$ |
335 |
|
|
|
$ |
295 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Auto
Parts (Domestic, Mexico and Brazil) |
|
|
|
|
|
|
|
|
|
|
|
|
Total auto parts
sales |
|
$ |
3,605,508 |
|
|
|
$ |
3,101,597 |
|
|
|
$ |
14,885,624 |
|
|
|
$ |
12,764,287 |
|
|
% Increase vs. LY |
|
|
16.2 |
% |
|
|
|
13.1 |
% |
|
|
|
16.6 |
% |
|
|
|
8.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
Total domestic
commercial sales |
|
$ |
899,919 |
|
|
|
$ |
695,343 |
|
|
|
$ |
3,550,026 |
|
|
|
$ |
2,801,626 |
|
|
% Increase vs. LY |
|
|
29.4 |
% |
|
|
|
11.9 |
% |
|
|
|
26.7 |
% |
|
|
|
6.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average sales per
program per week |
|
$ |
14.4 |
|
|
|
$ |
11.5 |
|
|
|
$ |
13.3 |
|
|
|
$ |
10.8 |
|
|
% Increase vs. LY |
|
|
25.2 |
% |
|
|
|
9.2 |
% |
|
|
|
23.1 |
% |
|
|
|
5.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other,
including ALLDATA |
|
|
|
|
|
|
|
|
|
|
|
|
All other
sales |
|
$ |
63,396 |
|
|
|
$ |
52,664 |
|
|
|
$ |
258,605 |
|
|
|
$ |
228,902 |
|
|
% Increase vs. LY |
|
|
20.4 |
% |
|
|
|
5.8 |
% |
|
|
|
13.0 |
% |
|
|
|
4.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks Ended |
|
|
12 Weeks Ended |
|
|
|
|
|
|
|
|
|
|
|
November 20, 2021 |
|
|
November 21, 2020 |
|
|
|
|
|
|
Domestic
same store sales |
|
|
13.6 |
% |
|
|
|
12.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory
Statistics (Total Stores) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as of |
|
|
as of |
|
|
|
|
|
|
|
|
|
|
|
November 20, 2021 |
|
|
November 21, 2020 |
|
|
|
|
|
|
|
Accounts
payable/inventory |
|
|
129.4 |
% |
|
|
|
114.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
|
$ |
4,768,258 |
|
|
|
$ |
4,628,334 |
|
|
|
|
|
|
|
|
Inventory per
store |
|
|
703 |
|
|
|
|
702 |
|
|
|
|
|
|
|
|
Net inventory (net
of payables) |
|
|
(1,403,086 |
) |
|
|
|
(653,979 |
) |
|
|
|
|
|
|
|
Net inventory /
per store |
|
|
(207 |
) |
|
|
|
(99 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5 Quarters |
|
|
|
|
|
|
|
|
|
|
|
November 20, 2021 |
|
|
November 21, 2020 |
|
|
|
|
|
|
|
Inventory
turns |
|
|
1.5 |
|
x |
|
|
1.3 |
|
x |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone (NYSE:AZO)
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