AutoZone, Inc. (NYSE:AZO) today reported net sales of $3.5 billion
for its fourth quarter (16 weeks) ended August 26, 2017, an
increase of 3.3% from the fourth quarter of fiscal 2016 (16 weeks).
Domestic same store sales, or sales for stores open at least
one year, increased 1.0% for the quarter.
Net income for the quarter increased 1.7% over the same period
last year to $433.9 million, while diluted earnings per share
increased 6.8% to $15.27 per share from $14.30 per share in the
year-ago quarter. As previously reported, the Company adopted
a new accounting standard on August 28, 2016, related to stock
option exercises. Excluding the $0.09 net benefit for the
quarter from the adoption of this new standard, adjusted EPS
increased by 6.1% to $15.18 per share.
For the quarter, gross profit, as a percentage of sales, was
52.8% (-2 bps versus the same period last year). The slight
decline in gross margin was attributable to higher supply chain
costs (-16 bps) associated with current year inventory initiatives,
partially offset by higher merchandise margins. Operating
expenses, as a percentage of sales, were 32.6% (versus 32.1% the
same period last year). The increase in operating expenses,
as a percentage of sales, was primarily due to deleverage on
occupancy costs (-24 bps) and domestic store payroll driven by
higher wage pressure.
For the fiscal year ended August 26, 2017, sales were $10.9
billion, an increase of 2.4% from the prior year, while domestic
same store sales were up 0.5% for the year. Operating profit
increased 1.0% on an operating margin of 19.1%. For fiscal
2017, net income increased 3.2% to $1.3 billion, while diluted
earnings per share for the year increased 8.3% to $44.07 from
$40.70. Excluding the $1.03 net benefit for the year
from the adoption of this new standard, adjusted EPS increased by
5.7%. Return on invested capital finished the year at 29.9%, while
full year cash flow before share repurchases and changes in debt
was $1.018 billion.
Under its share repurchase program, AutoZone repurchased 366
thousand shares of its common stock for $227 million during the
fourth quarter, at an average price of $622 per share. For
the fiscal year, the Company repurchased 1.5 million shares of its
common stock for $1.07 billion, at an average price of $717 per
share. At year end, the Company had $824 million remaining
under its current share repurchase authorization.
The Company’s inventory increased 6.9% over the same period last
year, driven by new stores and increased product placement.
Inventory per location at the end of the year was $644 thousand
versus $625 thousand last year and $653 thousand last
quarter. Net inventory, defined as merchandise inventories
less accounts payable, on a per location basis, was a negative $48
thousand at the end of the year versus negative $80 thousand last
year and negative $47 thousand last quarter.
“I would like to thank our entire organization for their
dedication and passion to provide our customers with the service
and trustworthy advice they need to maintain and enhance their
vehicles. For the fourth quarter, our same store sales
rebounded modestly from the previous two quarters. Our 1.0%
same store sales were still moderately below our recent historical
experience and we attribute this shortfall primarily to the
continuing headwinds resulting from two consecutive mild
winters. We believe we are well positioned to grow sales
further in 2018. For the year, we reached many milestones
which included generating a record $10.9 billion in sales, opening
215 AutoZone stores across the Americas and opening two new
distribution centers. Additionally, we continued to fine-tune
our inventory availability initiatives, including our
multi-deliveries per week to stores and we expanded the number of
mega hub locations. We expect to continue with these
initiatives in 2018 while opening the previously announced Florida
distribution center by the middle of the fiscal year. In
order to continue to meet our customers’ needs across all selling
channels, we will continue to prudently invest capital in our
product availability initiatives across our businesses. While
investing to grow, we will remain committed to our disciplined
approach to increasing operating earnings and utilizing our capital
effectively,” said Bill Rhodes, Chairman, President and Chief
Executive Officer.
During the quarter ended August 26, 2017, AutoZone opened 84 new
stores and relocated one store in the U.S., opened 25 new stores in
Mexico, and five in Brazil. As of August 26, 2017, the
Company had 5,465 stores in 50 states in the U.S., the District of
Columbia and Puerto Rico, 524 stores in Mexico, 26 IMC branches,
and 14 stores in Brazil for a total count of 6,029.
AutoZone is the leading retailer and a leading distributor of
automotive replacement parts and accessories in the United States.
Each AutoZone 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. IMC branches carry an extensive line of
original equipment quality import replacement parts. AutoZone
also sells the ALLDATA brand diagnostic and repair software through
www.alldata.com. Additionally, we sell automotive hard parts,
maintenance items, accessories, and non-automotive products through
www.autozone.com, and accessories, performance and replacement
parts through www.autoanything.com, and our commercial customers
can make purchases through www.autozonepro.com and
www.imcparts.net. AutoZone does not derive revenue from
automotive repair or installation.
AutoZone will host a conference call this morning, Tuesday,
September 19, 2017, beginning at 10:00 a.m. (EDT) to discuss its
fourth quarter results. Investors may listen to the
conference call live and review supporting slides on the AutoZone
corporate website, www.autozoneinc.com by clicking “Investor
Relations,” “Conference Calls.” The call will also be
available by dialing (210) 839-8923. A replay of the call and
slides will be available on AutoZone’s website. In addition,
a replay of the call will be available by dialing (203) 369-1211
through Tuesday, September 26, 2017, at 11:59 p.m. (EDT).
This release includes certain financial information not derived
in accordance with generally accepted accounting principles
(“GAAP”). These non-GAAP measures include adjustments to
reflect adjusted EPS, return on invested capital, adjusted debt,
adjusted debt to EBITDAR, and cash flow before share
repurchases. 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 and manages
cash flows available for share repurchase by monitoring cash flows
before share repurchases, as shown on the attached tables.
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 are
forward-looking statements. Forward-looking statements
typically use words such as “believe,” “anticipate,” “should,”
“intend,” “plan,” “will,” “expect,” “estimate,” “project,”
“positioned,” “strategy” 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; access to available and feasible financing; the impact
of recessionary conditions; consumer debt levels; changes in laws
or regulations; war and the prospect of war, including terrorist
activity; inflation; the ability to hire and retain qualified
employees; construction delays; the compromising of the
confidentiality, availability, or integrity of information,
including cyber security attacks; and raw material costs of our
suppliers. Certain of these risks are discussed in more
detail in the “Risk Factors” section contained in Item 1A under
Part 1 of the Annual Report on Form 10-K for the year ended August
27, 2016, 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. 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. Actual results may materially differ from anticipated
results.
Contact Information:Financial: Brian Campbell
at (901) 495-7005, brian.campbell@autozone.comMedia: Ray Pohlman at
(866) 966-3017, ray.pohlman@autozone.com
|
AutoZone's 4th Quarter Highlights - Fiscal
2017 |
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
4th Quarter, FY2017 |
(in
thousands, except per share data) |
|
|
|
GAAP Results |
|
|
|
16 Weeks Ended |
|
|
16 Weeks Ended |
|
|
|
August 26, 2017 |
|
|
August 27, 2016 |
|
|
|
|
|
|
|
Net
sales |
|
|
$ |
3,512,605 |
|
|
|
$ |
3,398,769 |
|
Cost of
sales |
|
|
|
1,658,480 |
|
|
|
|
1,604,021 |
|
Gross
profit |
|
|
|
1,854,125 |
|
|
|
|
1,794,748 |
|
Operating,
SG&A expenses |
|
|
|
1,146,497 |
|
|
|
|
1,091,382 |
|
Operating
profit (EBIT) |
|
|
|
707,628 |
|
|
|
|
703,366 |
|
Interest
expense, net |
|
|
|
51,401 |
|
|
|
|
45,789 |
|
Income
before taxes |
|
|
|
656,227 |
|
|
|
|
657,577 |
|
Income
taxes* |
|
|
|
222,328 |
|
|
|
|
230,809 |
|
Net
income |
|
|
$ |
433,899 |
|
|
|
$ |
426,768 |
|
Net income
per share: |
|
|
|
|
|
|
Basic |
|
|
$ |
15.52 |
|
|
|
$ |
14.58 |
|
Diluted |
|
|
$ |
15.27 |
|
|
|
$ |
14.30 |
|
Weighted
average shares outstanding: |
|
|
|
|
|
|
Basic |
|
|
|
27,963 |
|
|
|
|
29,280 |
|
Diluted |
|
|
|
28,424 |
|
|
|
|
29,847 |
|
|
|
|
|
|
|
|
* Fiscal 2017 includes $4.1MM in excess tax benefits from
stock option exercises related to the adoption of ASU 2016-09. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal 2017 |
|
|
|
|
|
|
(in
thousands, except per share data) |
|
|
GAAP Results |
|
|
|
52 Weeks Ended |
|
|
52 Weeks Ended |
|
|
|
August 26, 2017 |
|
|
August 27, 2016 |
|
|
|
|
|
|
|
Net
sales |
|
|
$ |
10,888,676 |
|
|
|
$ |
10,635,676 |
|
Cost of
sales |
|
|
|
5,149,056 |
|
|
|
|
5,026,940 |
|
Gross
profit |
|
|
|
5,739,620 |
|
|
|
|
5,608,736 |
|
Operating,
SG&A expenses |
|
|
|
3,659,551 |
|
|
|
|
3,548,341 |
|
Operating
profit (EBIT) |
|
|
|
2,080,069 |
|
|
|
|
2,060,395 |
|
Interest
expense, net |
|
|
|
154,580 |
|
|
|
|
147,681 |
|
Income
before taxes |
|
|
|
1,925,489 |
|
|
|
|
1,912,714 |
|
Income
taxes* |
|
|
|
644,620 |
|
|
|
|
671,707 |
|
Net
income |
|
|
$ |
1,280,869 |
|
|
|
$ |
1,241,007 |
|
Net income
per share: |
|
|
|
|
|
|
Basic |
|
|
$ |
45.05 |
|
|
|
$ |
41.52 |
|
Diluted |
|
|
$ |
44.07 |
|
|
|
$ |
40.70 |
|
Weighted
average shares outstanding: |
|
|
|
|
|
|
Basic |
|
|
|
28,430 |
|
|
|
|
29,889 |
|
Diluted |
|
|
|
29,065 |
|
|
|
|
30,488 |
|
|
|
|
|
|
|
|
* Fiscal 2017 includes $31.2MM in excess tax benefits from
stock option exercises related to the adoption of ASU 2016-09. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Balance Sheet Information |
|
|
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
|
August 26, 2017 |
|
|
August 27, 2016 |
|
|
|
|
|
|
|
Cash and
cash equivalents |
|
|
$ |
293,270 |
|
|
|
$ |
189,734 |
|
Merchandise
inventories |
|
|
|
3,882,086 |
|
|
|
|
3,631,916 |
|
Current
assets |
|
|
|
4,611,255 |
|
|
|
|
4,239,573 |
|
Property and equipment, net |
|
|
|
4,031,018 |
|
|
|
|
3,733,254 |
|
Total
assets |
|
|
|
9,259,781 |
|
|
|
|
8,599,787 |
|
Accounts
payable |
|
|
|
4,168,940 |
|
|
|
|
4,095,854 |
|
Current
liabilities |
|
|
|
4,766,301 |
|
|
|
|
4,690,320 |
|
Total
debt |
|
|
|
5,081,238 |
|
|
|
|
4,924,119 |
|
Stockholders' deficit |
|
|
|
(1,428,377 |
) |
|
|
|
(1,787,538 |
) |
Working capital |
|
|
|
(155,046 |
) |
|
|
|
(450,747 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Debt / EBITDAR (Trailing 4 Qtrs) |
|
|
|
|
|
|
|
|
(in
thousands, except adjusted debt to EBITDAR ratio) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 26, 2017 |
|
August 27, 2016 |
|
|
|
|
|
|
Net income |
|
$ |
1,280,869 |
|
|
$ |
1,241,007 |
|
|
|
|
|
|
|
Add:
Interest |
|
|
154,580 |
|
|
|
147,681 |
|
|
|
|
|
|
|
Taxes |
|
|
644,620 |
|
|
|
671,707 |
|
|
|
|
|
|
|
EBIT |
|
|
|
2,080,069 |
|
|
|
2,060,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Depreciation and amortization |
|
|
323,051 |
|
|
|
297,397 |
|
|
|
|
|
|
|
Rent expense |
|
|
302,928 |
|
|
|
280,490 |
|
|
|
|
|
|
|
Share-based expense |
|
|
38,244 |
|
|
|
39,825 |
|
|
|
|
|
|
|
EBITDAR |
|
$ |
2,744,292 |
|
|
$ |
2,678,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
$ |
5,081,238 |
|
|
$ |
4,924,119 |
|
|
|
|
|
|
|
Capital lease obligations |
|
|
150,456 |
|
|
|
147,285 |
|
|
|
|
|
|
|
Add: Rent x 6 |
|
|
1,817,568 |
|
|
|
1,682,940 |
|
|
|
|
|
|
|
Adjusted debt |
|
$ |
7,049,262 |
|
|
$ |
6,754,344 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted debt to EBITDAR |
|
|
2.6 |
|
|
|
2.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Cash Flow Information |
|
|
|
|
|
|
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
16 Weeks Ended |
|
|
52 Weeks Ended |
|
52 Weeks Ended |
|
|
|
|
|
|
August 26, 2017 |
|
August 27, 2016 |
|
|
August 26, 2017 |
|
August 27, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
103,063 |
|
|
$ |
93,932 |
|
|
|
$ |
323,051 |
|
|
$ |
297,397 |
|
Capital spending |
|
|
195,898 |
|
|
|
188,869 |
|
|
|
|
553,832 |
|
|
|
488,791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow before share repurchases: |
|
|
|
|
|
|
|
|
|
|
Increase/(decrease) in cash and cash equivalents |
|
$ |
66,129 |
|
|
$ |
(23,646 |
) |
|
|
$ |
103,536 |
|
|
$ |
14,425 |
|
Subtract
(decrease)/increase in debt, excluding deferred financing
costs |
|
|
(73,100 |
) |
|
|
(31,000 |
) |
|
|
|
157,600 |
|
|
|
299,900 |
|
Add back
share repurchases |
|
|
227,466 |
|
|
|
369,737 |
|
|
|
|
1,071,649 |
|
|
|
1,452,462 |
|
Cash flow
before share repurchases and changes in debt |
|
$ |
366,695 |
|
|
$ |
377,091 |
|
|
|
$ |
1,017,585 |
|
|
$ |
1,166,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Selected Financial Information |
|
|
|
|
|
|
|
|
|
|
(in
thousands, except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 26, 2017 |
|
August 27, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases ($ since fiscal 1998) |
|
$ |
17,826,298 |
|
|
$ |
16,754,649 |
|
|
|
|
|
|
|
Remaining share repurchase authorization ($) |
|
|
823,702 |
|
|
|
395,351 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases (shares since fiscal 1998) |
|
|
142,290 |
|
|
|
140,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
outstanding, end of quarter |
|
|
27,833 |
|
|
|
29,118 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4 Quarters |
|
|
|
|
|
|
|
|
|
|
|
August 26, 2017 |
|
August 27, 2016 |
|
|
|
|
|
|
Net income |
|
$ |
1,280,869 |
|
|
$ |
1,241,007 |
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
154,580 |
|
|
|
147,681 |
|
|
|
|
|
|
|
Rent expense |
|
|
302,928 |
|
|
|
280,490 |
|
|
|
|
|
|
|
Tax effect* |
|
|
(153,265 |
) |
|
|
(150,288 |
) |
|
|
|
|
|
|
After-tax return |
|
|
1,585,112 |
|
|
|
1,518,890 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average debt** |
|
|
5,061,502 |
|
|
|
4,820,402 |
|
|
|
|
|
|
|
Average stockholders' deficit** |
|
|
(1,730,559 |
) |
|
|
(1,774,329 |
) |
|
|
|
|
|
|
Add: Rent x 6 |
|
|
1,817,568 |
|
|
|
1,682,940 |
|
|
|
|
|
|
|
Average capital lease obligations** |
|
|
150,066 |
|
|
|
131,008 |
|
|
|
|
|
|
|
Pre-tax Invested capital |
|
$ |
5,298,577 |
|
|
$ |
4,860,021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on Invested Capital (ROIC) |
|
|
29.9 |
% |
|
|
31.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Effective tax rate over trailing four quarters ended August
26, 2017 is 33.5% and August 27, 2016 is 35.1%. |
|
|
|
|
|
** |
|
All averages are computed based on trailing 5 quarter
balances. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EPS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
16 Weeks Ended |
|
|
52 Weeks Ended |
|
52 Weeks Ended |
|
|
|
|
|
|
August 26, 2017 |
|
August 27, 2016 |
|
|
August 26, 2017 |
|
August 27, 2016 |
|
Diluted net
income per share: |
|
$ |
15.27 |
|
|
$ |
14.30 |
|
|
|
$ |
44.07 |
|
|
$ |
40.70 |
|
|
|
Impact of
excess tax benefits from option exercises |
|
|
(0.09 |
) |
|
|
- |
|
|
|
|
(1.03 |
) |
|
|
- |
|
Adjusted
diluted net income per share |
|
$ |
15.18 |
|
|
$ |
14.30 |
|
|
|
$ |
43.04 |
|
|
$ |
40.70 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 4th Quarter Fiscal 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Location Count & Square Footage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
|
|
16 Weeks Ended |
|
|
52 Weeks Ended |
|
|
|
52 Weeks Ended |
|
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
AutoZone Domestic stores (Domestic): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store count: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning domestic stores |
|
|
|
5,381 |
|
|
|
|
|
5,226 |
|
|
|
|
5,297 |
|
|
|
|
|
5,141 |
|
Stores opened |
|
|
|
84 |
|
|
|
|
|
71 |
|
|
|
|
168 |
|
|
|
|
|
156 |
|
Stores closed |
|
|
|
- |
|
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
|
- |
|
Ending domestic stores |
|
|
|
5,465 |
|
|
|
|
|
5,297 |
|
|
|
|
5,465 |
|
|
|
|
|
5,297 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated stores |
|
|
|
1 |
|
|
|
|
|
2 |
|
|
|
|
5 |
|
|
|
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with commercial programs |
|
|
|
4,592 |
|
|
|
|
|
4,390 |
|
|
|
|
4,592 |
|
|
|
|
|
4,390 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
|
35,713 |
|
|
|
|
|
34,575 |
|
|
|
|
35,713 |
|
|
|
|
|
34,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone Mexico stores: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores opened |
|
|
|
25 |
|
|
|
|
|
25 |
|
|
|
|
41 |
|
|
|
|
|
42 |
|
Total stores in Mexico |
|
|
|
524 |
|
|
|
|
|
483 |
|
|
|
|
524 |
|
|
|
|
|
483 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone Brazil stores: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores opened |
|
|
|
5 |
|
|
|
|
|
- |
|
|
|
|
6 |
|
|
|
|
|
1 |
|
Total stores in Brazil |
|
|
|
14 |
|
|
|
|
|
8 |
|
|
|
|
14 |
|
|
|
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total AutoZone stores |
|
|
|
6,003 |
|
|
|
|
|
5,788 |
|
|
|
|
6,003 |
|
|
|
|
|
5,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
|
39,684 |
|
|
|
|
|
38,198 |
|
|
|
|
39,684 |
|
|
|
|
|
38,198 |
|
Square footage per store |
|
|
|
6,611 |
|
|
|
|
|
6,600 |
|
|
|
|
6,611 |
|
|
|
|
|
6,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMC
branches: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Branches opened |
|
|
|
- |
|
|
|
|
|
1 |
|
|
|
|
- |
|
|
|
|
|
6 |
|
Total IMC branches |
|
|
|
26 |
|
|
|
|
|
26 |
|
|
|
|
26 |
|
|
|
|
|
26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total locations chainwide |
|
|
|
6,029 |
|
|
|
|
|
5,814 |
|
|
|
|
6,029 |
|
|
|
|
|
5,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Statistics |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in
thousands, except sales per average square foot) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
|
|
16 Weeks Ended |
|
|
Trailing 4 Quarters |
|
|
|
Trailing 4 Quarters |
Total AutoZone
stores (Domestic, Mexico and Brazil) |
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
Sales per average store |
|
|
$ |
562 |
|
|
|
|
$ |
562 |
|
|
|
$ |
1,756 |
|
|
|
|
$ |
1,773 |
|
Sales per average square foot |
|
|
$ |
85 |
|
|
|
|
$ |
85 |
|
|
|
$ |
266 |
|
|
|
|
$ |
269 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Auto
Parts (Domestic, Mexico, Brazil, and
IMC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total auto parts sales |
|
|
$ |
3,397,460 |
|
|
|
|
$ |
3,282,699 |
|
|
|
$ |
10,523,272 |
|
|
|
|
$ |
10,261,112 |
|
% Increase vs. LY |
|
|
|
3.5 |
% |
|
|
|
|
3.3 |
% |
|
|
|
2.6 |
% |
|
|
|
|
4.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic Commercial (Excludes IMC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total domestic commercial sales |
|
|
$ |
672,479 |
|
|
|
|
$ |
635,148 |
|
|
|
$ |
2,062,812 |
|
|
|
|
$ |
1,951,919 |
|
% Increase vs. LY |
|
|
|
5.9 |
% |
|
|
|
|
5.2 |
% |
|
|
|
5.7 |
% |
|
|
|
|
7.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other
(ALLDATA, E-Commerce, and AutoAnything) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All other sales |
|
|
$ |
115,145 |
|
|
|
|
$ |
116,070 |
|
|
|
$ |
365,404 |
|
|
|
|
$ |
374,564 |
|
% Increase vs. LY |
|
|
|
(0.8 |
%) |
|
|
|
|
4.3 |
% |
|
|
|
(2.4 |
%) |
|
|
|
|
3.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
|
|
16 Weeks Ended |
|
|
52 Weeks Ended |
|
|
|
52 Weeks Ended |
|
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
Domestic same store
sales |
|
|
|
1.0 |
% |
|
|
|
|
1.0 |
% |
|
|
|
0.5 |
% |
|
|
|
|
2.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory Statistics (Total Locations) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as of |
|
|
|
as of |
|
|
|
|
|
|
|
|
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
|
|
|
|
|
|
|
Accounts payable/inventory |
|
|
|
107.4 |
% |
|
|
|
|
112.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
|
$ |
3,882,086 |
|
|
|
|
$ |
3,631,916 |
|
|
|
|
|
|
|
|
Inventory per location |
|
|
|
644 |
|
|
|
|
|
625 |
|
|
|
|
|
|
|
|
Net inventory (net of payables) |
|
|
|
(286,854 |
) |
|
|
|
|
(463,938 |
) |
|
|
|
|
|
|
|
Net inventory / per location |
|
|
|
(48 |
) |
|
|
|
|
(80 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5 Quarters |
|
|
|
|
|
|
|
|
|
|
August 26, 2017 |
|
|
|
August 27, 2016 |
|
|
|
|
|
|
|
Inventory turns |
|
|
|
1.4 |
x |
|
|
|
|
1.4 |
x |
|
|
|
|
|
|
|
AutoZone (NYSE:AZO)
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