AutoZone, Inc. (NYSE: AZO) today reported net sales of $3.9 billion
for its third quarter (12 weeks) ended May 7, 2022, an increase of
5.9% from the third quarter of fiscal 2021 (12 weeks). Domestic
same store sales, or sales for stores open at least one year,
increased 2.6% for the quarter.
“We are very proud to report solid same store sales growth on
top of last year’s remarkable 28.9%. Both our retail and commercial
sales performance exceeded our expectations this quarter. While our
commercial sales growth accelerated to 26.0%, our retail sales also
remained healthy considering the tough comparison from a year ago.
We continue to believe the initiatives we have in place position us
well for our upcoming fourth quarter,” said Bill Rhodes, Chairman,
President and Chief Executive Officer.
For the quarter, gross profit, as a percentage of sales, was
51.91%, a decrease of 54 basis points versus the prior year. The
decrease in gross margin was primarily driven by accelerated growth
in our lower margin Commercial business. Operating expenses, as a
percentage of sales, were 31.58% versus 30.44% last year. The
increase in operating expenses, as a percentage of sales, was
driven by payroll deleverage as last year’s historic comparable
store sales drove significant leverage.
Operating profit decreased 2.2% to $785.7 million. Net income
for the quarter decreased 0.6% over the same period last year to
$592.6 million, while diluted earnings per share increased 9.6% to
$29.03 from $26.48 in the year-ago quarter.
Under its share repurchase program, AutoZone repurchased 449
thousand shares of its common stock for $900 million during the
third quarter, at an average price of $2,006 per share. At the end
of the third quarter, the Company had $2.058 billion remaining
under its current share repurchase authorization.
The Company’s inventory increased 13.9% over the same period
last year, primarily driven by inflation with the remaining growth
driven by our growth initiatives, including megahubs, hubs and new
stores. Net inventory, defined as merchandise inventories less
accounts payable, on a per store basis, was negative $216 thousand
versus negative $167 thousand last year and negative $198 thousand
last quarter.“We remain committed to providing the best and safest
place to shop for everyone’s automotive needs. During these unique
and challenging times, we strive to deliver exceptional customer
service while focusing on our growth initiatives. We will take
nothing for granted as we continue to prudently invest in our
business and remain focused on generating solid returns on capital.
We are committed to our long-term approach of increasing operating
earnings and free cash flows while utilizing our balance sheet
effectively,” said Rhodes.
During the quarter ended May 7, 2022, AutoZone opened 24 new
stores in the U.S., opened four stores in Mexico and three stores
in Brazil. As of May 7, 2022, the Company had 6,115 stores in the
U.S., 673 in Mexico and 58 in Brazil for a total store count of
6,846.
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 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, May
24, 2022, beginning at 10:00 a.m. (EST) 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 45495 through June 7,
2022.
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, due to changes in fuel prices, miles driven or
otherwise; 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 3rd
Quarter Highlights - Fiscal 2022 |
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
3rd Quarter, FY2022 |
|
|
|
|
|
|
|
(in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
GAAP Results |
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
|
|
|
|
May 7, 2022 |
|
May 8, 2021 |
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
3,865,222 |
|
|
$ |
3,651,023 |
|
|
|
|
Cost of sales |
|
|
1,858,808 |
|
|
|
1,736,077 |
|
|
|
|
Gross profit |
|
|
2,006,414 |
|
|
|
1,914,946 |
|
|
|
|
Operating, SG&A expenses |
|
|
1,220,744 |
|
|
|
1,111,441 |
|
|
|
|
Operating profit (EBIT) |
|
|
785,670 |
|
|
|
803,505 |
|
|
|
|
Interest expense, net |
|
|
41,888 |
|
|
|
45,026 |
|
|
|
|
Income before taxes |
|
|
743,782 |
|
|
|
758,479 |
|
|
|
|
Income tax expense(1) |
|
|
151,211 |
|
|
|
162,315 |
|
|
|
|
Net income |
|
$ |
592,571 |
|
|
$ |
596,164 |
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
Basic |
|
$ |
29.93 |
|
|
$ |
27.15 |
|
|
|
|
Diluted |
|
$ |
29.03 |
|
|
$ |
26.48 |
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
|
19,798 |
|
|
|
21,956 |
|
|
|
|
Diluted |
|
|
20,414 |
|
|
|
22,515 |
|
|
|
|
|
|
|
|
|
|
|
|
(1)The twelve weeks ended May 7, 2022 and the comparable prior year
period include $21.1M and $16.0M in tax benefits from stock option
exercises, respectively |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-To-Date 3rd Quarter, FY2022 |
|
|
|
|
|
|
|
(in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
GAAP Results |
|
|
|
|
|
36 Weeks
Ended |
|
36 Weeks
Ended |
|
|
|
|
|
May 7, 2022 |
|
May 8, 2021(2) |
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
10,903,875 |
|
|
$ |
9,716,101 |
|
|
|
|
Cost of sales |
|
|
5,187,075 |
|
|
|
4,566,155 |
|
|
|
|
Gross profit |
|
|
5,716,800 |
|
|
|
5,149,946 |
|
|
|
|
Operating, SG&A expenses |
|
|
3,549,885 |
|
|
|
3,249,449 |
|
|
|
|
Operating profit (EBIT) |
|
|
2,166,915 |
|
|
|
1,900,497 |
|
|
|
|
Interest expense, net |
|
|
127,642 |
|
|
|
137,217 |
|
|
|
|
Income before taxes |
|
|
2,039,273 |
|
|
|
1,763,280 |
|
|
|
|
Income taxes(1) |
|
|
419,712 |
|
|
|
378,737 |
|
|
|
|
Net income |
|
$ |
1,619,561 |
|
|
$ |
1,384,543 |
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
Basic |
|
$ |
79.26 |
|
|
$ |
61.24 |
|
|
|
|
Diluted |
|
$ |
76.90 |
|
|
$ |
59.80 |
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
|
20,433 |
|
|
|
22,609 |
|
|
|
|
Diluted |
|
|
21,060 |
|
|
|
23,154 |
|
|
|
|
|
|
|
|
|
|
|
|
(1)The thirty-six weeks ended May 7, 2022 and the comparable prior
year period include $55.9M and $35.2M in tax benefits from stock
option exercises, respectively |
|
|
|
(2)The thirty-six weeks ended May 8, 2021 was negatively impacted
by pandemic related expenses, including Emergency Time-Off of
approximately $46M (pre-tax) |
|
|
|
|
|
|
|
|
|
|
|
Selected Balance Sheet Information |
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
May 7, 2022 |
|
May 8, 2021 |
|
August 28, 2021 |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
263,044 |
|
|
$ |
975,646 |
|
|
$ |
1,171,335 |
|
|
Merchandise inventories |
|
|
5,313,114 |
|
|
|
4,665,477 |
|
|
|
4,639,813 |
|
|
Current assets |
|
|
6,254,721 |
|
|
|
6,224,396 |
|
|
|
6,415,303 |
|
|
Property and equipment, net |
|
|
4,971,626 |
|
|
|
4,683,149 |
|
|
|
4,856,891 |
|
|
Operating lease right-of-use assets |
|
|
2,764,631 |
|
|
|
2,694,846 |
|
|
|
2,718,712 |
|
|
Total assets |
|
|
14,520,565 |
|
|
|
14,137,946 |
|
|
|
14,516,199 |
|
|
Accounts payable |
|
|
6,793,205 |
|
|
|
5,778,222 |
|
|
|
6,013,924 |
|
|
Current liabilities |
|
|
8,064,076 |
|
|
|
7,013,249 |
|
|
|
7,369,754 |
|
|
Operating lease liabilities, less current portion |
|
|
2,659,535 |
|
|
|
2,594,506 |
|
|
|
2,632,842 |
|
|
Total debt |
|
|
6,057,444 |
|
|
|
5,267,896 |
|
|
|
5,269,820 |
|
|
Stockholders' deficit |
|
|
(3,387,230 |
) |
|
|
(1,763,392 |
) |
|
|
(1,797,536 |
) |
|
Working capital |
|
|
(1,809,355 |
) |
|
|
(788,853 |
) |
|
|
(954,451 |
) |
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 3rd Quarter Highlights - Fiscal
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Debt / EBITDAR |
|
|
|
|
|
|
|
|
|
(in thousands, except adjusted debt to EBITDAR ratio) |
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
May 7, 2022 |
|
May 8, 2021 |
|
|
|
|
|
Net income |
|
$ |
2,405,332 |
|
|
$ |
2,125,000 |
|
|
|
|
|
|
Add: Interest expense |
|
|
185,762 |
|
|
|
202,854 |
|
|
|
|
|
|
Income tax expense |
|
|
619,851 |
|
|
|
590,688 |
|
|
|
|
|
|
EBIT |
|
|
3,210,945 |
|
|
|
2,918,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Depreciation and amortization |
|
|
431,004 |
|
|
|
403,395 |
|
|
|
|
|
|
Rent expense(1) |
|
|
360,076 |
|
|
|
339,193 |
|
|
|
|
|
|
Share-based expense |
|
|
67,109 |
|
|
|
50,645 |
|
|
|
|
|
|
EBITDAR |
|
$ |
4,069,134 |
|
|
$ |
3,711,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
$ |
6,057,444 |
|
|
$ |
5,267,896 |
|
|
|
|
|
|
Financing lease liabilities |
|
|
288,483 |
|
|
|
228,597 |
|
|
|
|
|
|
Add: Rent x 6(1) |
|
|
2,160,456 |
|
|
|
2,035,158 |
|
|
|
|
|
|
Adjusted debt |
|
$ |
8,506,383 |
|
|
$ |
7,531,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted debt to EBITDAR |
|
|
2.1 |
|
|
|
2.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Return on Invested Capital (ROIC) |
|
|
|
|
|
|
|
|
|
(in thousands, except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
May 7, 2022 |
|
May 8, 2021 |
|
|
|
|
|
Net income |
|
$ |
2,405,332 |
|
|
$ |
2,125,000 |
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
185,762 |
|
|
|
202,854 |
|
|
|
|
|
|
Rent expense(1) |
|
|
360,076 |
|
|
|
339,193 |
|
|
|
|
|
|
Tax effect(2) |
|
|
(111,896 |
) |
|
|
(118,167 |
) |
|
|
|
|
|
Adjusted after-tax return |
|
$ |
2,839,274 |
|
|
$ |
2,548,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average debt(3) |
|
$ |
5,541,462 |
|
|
$ |
5,446,162 |
|
|
|
|
|
|
Average stockholders' deficit(3) |
|
|
(2,442,077 |
) |
|
|
(1,364,932 |
) |
|
|
|
|
|
Add: Rent x 6(1) |
|
|
2,160,456 |
|
|
|
2,035,158 |
|
|
|
|
|
|
Average financing lease liabilities(3) |
|
|
268,111 |
|
|
|
227,061 |
|
|
|
|
|
|
Invested capital |
|
$ |
5,527,952 |
|
|
$ |
6,343,449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted After-Tax ROIC |
|
|
51.4 |
% |
|
|
40.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 7, 2022 and May 8, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
(in thousands) |
|
May 7, 2022 |
|
May 8, 2021 |
|
|
|
|
|
Total lease cost, per ASC 842 |
|
$ |
451,601 |
|
|
$ |
421,750 |
|
|
|
|
|
|
Less: Finance lease interest and amortization |
|
|
(65,128 |
) |
|
|
(55,725 |
) |
|
|
|
|
|
Less: Variable
operating lease components, related to insurance and common area
maintenance |
|
|
(26,397 |
) |
|
|
(26,832 |
) |
|
|
|
|
|
|
|
|
|
|
Rent expense |
|
$ |
360,076 |
|
|
$ |
339,193 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Effective tax rate over trailing four quarters ended May 7,
2022 and May 8, 2021 is 20.5% and 21.8%,
respectively |
|
|
|
|
|
(3) All averages are computed based on trailing five quarter
balances |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Selected Financial Information |
|
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
May 7, 2022 |
|
May 8, 2021 |
|
|
|
|
|
Cumulative share repurchases ($ since fiscal 1998) |
|
$ |
29,092,425 |
|
|
$ |
24,832,432 |
|
|
|
|
|
|
Remaining share repurchase authorization ($) |
|
|
2,057,575 |
|
|
|
1,317,568 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases (shares since fiscal 1998) |
|
|
152,035 |
|
|
|
149,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding, end of quarter |
|
|
19,576 |
|
|
|
21,620 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
|
36 Weeks
Ended |
|
36 Weeks
Ended |
|
|
May 7, 2022 |
|
May 8, 2021 |
|
|
May 7, 2022 |
|
May 8, 2021 |
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
102,083 |
|
|
$ |
94,017 |
|
|
|
$ |
301,365 |
|
$ |
278,044 |
|
|
|
|
|
|
|
|
|
|
Capital spending |
|
|
161,207 |
|
|
|
137,009 |
|
|
|
|
369,350 |
|
|
375,653 |
|
|
|
|
|
|
|
|
|
|
AutoZone's 3rd Quarter Highlights - Fiscal
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
Selected Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store Count & Square Footage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
|
May 7, 2022 |
|
|
May 8, 2021 |
|
|
May 7, 2022 |
|
|
May 8, 2021 |
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
6,091 |
|
|
|
|
5,951 |
|
|
|
|
6,051 |
|
|
|
|
5,885 |
|
|
|
Stores opened |
|
|
24 |
|
|
|
|
25 |
|
|
|
|
65 |
|
|
|
|
91 |
|
|
|
Stores closed |
|
|
- |
|
|
|
|
(1 |
) |
|
|
|
(1 |
) |
|
|
|
(1 |
) |
|
|
Ending domestic stores |
|
|
6,115 |
|
|
|
|
5,975 |
|
|
|
|
6,115 |
|
|
|
|
5,975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated stores |
|
|
4 |
|
|
|
|
6 |
|
|
|
|
8 |
|
|
|
|
11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with commercial programs |
|
|
5,276 |
|
|
|
|
5,107 |
|
|
|
|
5,276 |
|
|
|
|
5,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
40,230 |
|
|
|
|
39,175 |
|
|
|
|
40,230 |
|
|
|
|
39,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
669 |
|
|
|
|
628 |
|
|
|
|
664 |
|
|
|
|
621 |
|
|
|
Stores opened |
|
|
4 |
|
|
|
|
7 |
|
|
|
|
9 |
|
|
|
|
14 |
|
|
|
Ending Mexico stores |
|
|
673 |
|
|
|
|
635 |
|
|
|
|
673 |
|
|
|
|
635 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
55 |
|
|
|
|
46 |
|
|
|
|
52 |
|
|
|
|
43 |
|
|
|
Stores opened |
|
|
3 |
|
|
|
|
1 |
|
|
|
|
6 |
|
|
|
|
4 |
|
|
|
Ending Brazil stores |
|
|
58 |
|
|
|
|
47 |
|
|
|
|
58 |
|
|
|
|
47 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
6,846 |
|
|
|
|
6,657 |
|
|
|
|
6,846 |
|
|
|
|
6,657 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
45,680 |
|
|
|
|
44,253 |
|
|
|
|
45,680 |
|
|
|
|
44,253 |
|
|
|
Square footage per store |
|
|
6,673 |
|
|
|
|
6,648 |
|
|
|
|
6,673 |
|
|
|
|
6,648 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 7, 2022 |
|
|
May 8, 2021 |
|
|
May 7, 2022 |
|
|
May 8, 2021 |
|
|
Sales per average store |
|
$ |
556 |
|
|
|
$ |
541 |
|
|
|
$ |
2,301 |
|
|
|
$ |
2,134 |
|
|
|
Sales per average square foot |
|
$ |
83 |
|
|
|
$ |
81 |
|
|
|
$ |
346 |
|
|
|
$ |
321 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Auto Parts (Domestic, Mexico and
Brazil) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total auto parts sales |
|
$ |
3,795,290 |
|
|
|
$ |
3,590,281 |
|
|
|
$ |
15,537,156 |
|
|
|
$ |
14,024,674 |
|
|
|
% Increase vs. LY |
|
|
5.7 |
% |
|
|
|
31.8 |
% |
|
|
|
10.8 |
% |
|
|
|
18.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total domestic commercial sales |
|
$ |
1,044,293 |
|
|
|
$ |
828,569 |
|
|
|
$ |
3,970,727 |
|
|
|
$ |
3,138,398 |
|
|
|
% Increase vs. LY |
|
|
26.0 |
% |
|
|
|
44.4 |
% |
|
|
|
26.5 |
% |
|
|
|
18.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average sales per program per week |
|
$ |
16.6 |
|
|
|
$ |
13.5 |
|
|
|
$ |
14.7 |
|
|
|
$ |
12.0 |
|
|
|
% Increase vs. LY |
|
|
23.0 |
% |
|
|
|
39.2 |
% |
|
|
|
22.5 |
% |
|
|
|
17.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other, including ALLDATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
All other sales |
|
$ |
69,932 |
|
|
|
$ |
60,742 |
|
|
|
$ |
280,203 |
|
|
|
$ |
237,395 |
|
|
|
% Increase vs. LY |
|
|
15.1 |
% |
|
|
|
11.1 |
% |
|
|
|
18.0 |
% |
|
|
|
5.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
36 Weeks
Ended |
|
|
|
|
May 7, 2022 |
|
|
May 8, 2021 |
|
|
May 7, 2022 |
|
|
May 8, 2021 |
|
Domestic same store sales |
|
|
2.6 |
% |
|
|
|
28.9 |
% |
|
|
|
9.5 |
% |
|
|
|
19.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory Statistics (Total Stores) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as
of |
|
|
as
of |
|
|
|
|
|
|
|
|
|
|
May 7, 2022 |
|
|
May 8, 2021 |
|
|
|
|
|
|
|
|
Accounts payable/inventory |
|
|
127.9 |
% |
|
|
|
123.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
$ |
5,313,114 |
|
|
|
$ |
4,665,477 |
|
|
|
|
|
|
|
|
|
Inventory per store |
|
|
776 |
|
|
|
|
701 |
|
|
|
|
|
|
|
|
|
Net inventory (net of payables) |
|
|
(1,480,091 |
) |
|
|
|
(1,112,745 |
) |
|
|
|
|
|
|
|
|
Net inventory / per store |
|
|
(216 |
) |
|
|
|
(167 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5
Quarters |
|
|
|
|
|
|
|
|
|
|
May 7, 2022 |
|
|
May 8, 2021 |
|
|
|
|
|
|
|
|
Inventory turns |
|
|
1.5 |
x |
|
|
|
1.5 |
x |
|
|
|
|
|
|
|
AutoZone (NYSE:AZO)
Historical Stock Chart
From Apr 2024 to May 2024
AutoZone (NYSE:AZO)
Historical Stock Chart
From May 2023 to May 2024