Welcome to our dedicated page for AutoZone news (Ticker: AZO), a resource for investors and traders seeking the latest updates and insights on AutoZone stock.
AutoZone, Inc. (NYSE: AZO) is the leading retailer and distributor of automotive replacement parts and accessories in the Americas. Founded in 1979, AutoZone operates over 7,100 stores across the United States, Puerto Rico, Mexico, and Brazil. Each store offers an extensive range of products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured hard parts, maintenance items, and accessories.
AutoZone caters to both do-it-yourself (DIY) and do-it-for-me (DIFM) markets. The company’s vast store network and distribution system ensure a wide array of stock-keeping units applicable to various vehicle makes and models, providing customers with ample product availability. The firm’s team of knowledgeable staff assists consumers with diagnosing vehicle issues, selecting necessary parts, and sometimes even performing installations.
Internationally, AutoZone has expanded its reach with over 750 stores in Mexico and more than 100 stores in Brazil. Additionally, AutoZone sells automotive hard parts, maintenance items, accessories, and non-automotive products through its e-commerce platforms www.autozone.com and www.autozonepro.com.
Financially, AutoZone has demonstrated strong performance. For the fiscal year ending August 26, 2023, the company reported sales of $17.5 billion, a 7.4% increase from the prior year. The company’s net income increased by 4.1% to $2.5 billion, showcasing its robust financial health. AutoZone’s disciplined capital allocation strategy has allowed it to invest significantly in share repurchases, with a total investment of $3.7 billion in the fiscal year 2023.
AutoZone also offers the ALLDATA brand automotive diagnostic, repair, and shop management software through www.alldata.com. In Europe, ALLDATA provides repair data for a wide range of vehicle manufacturers, helping technicians access the most current OEM information. This contributes to safer and more accurate vehicle repairs.
With a history of continuous growth and innovation, AutoZone remains committed to delivering superior customer service and maintaining its status as an industry leader. The company does not derive revenue from automotive repair or installation services, focusing instead on providing quality parts and exceptional service.
AutoZone, Inc. (NYSE: AZO) announced the appointment of Jenna Bedsole as Senior Vice President, General Counsel and Secretary of Customer Satisfaction. Jenna brings over 25 years of legal experience and previously served as managing shareholder at Baker Donelson. She is recognized for her expertise in employment, policy, and regulatory matters. Jenna will join AutoZone’s Executive Committee, reporting to Bill Rhodes, Chairman, President, and CEO. This strategic hiring aims to bolster AutoZone's focus on customer satisfaction, aligning with the company's commitment to quality service and compliance.
AutoZone (NYSE: AZO) reported net sales of $3.7 billion for the second quarter ending February 11, 2023, a 9.5% increase from the previous year. Domestic same-store sales rose 5.3%, building on last year's 13.8% growth. Gross profit margin was 52.3%, a decrease of 69 basis points, impacted by supply chain and freight costs. Operating profit grew 6.9% to $670 million, while net income increased 1.0% to $476.5 million, and diluted EPS rose 10.5% to $24.64. The company repurchased 372,000 shares for $906 million. Inventory levels rose 13.9%.
AutoZone (NYSE: AZO) plans to release its second quarter financial results on February 28, 2023, before market opening. The results will cover the period ending February 11, 2023. Following the release, a conference call will be hosted at 10:00 a.m. ET that will also be webcast. As of November 19, 2022, AutoZone operates 6,978 stores across the Americas, including 6,196 in the U.S., 706 in Mexico, and 76 in Brazil. The call can be accessed via the AutoZone website and will provide insights on the company's performance and future outlook.
ALLDATA Europe GmbH, part of AutoZone, has introduced ALLDATA Labour Times, a new add-on for ALLDATA Repair® that offers technicians quick access to OEM labor times for vehicle repairs. This tool enhances the efficiency of workshops by providing accurate estimates for both mechanical and body repairs. Developed in response to customer demand, ALLDATA Labour Times integrates seamlessly with ALLDATA Repair, which already supplies essential repair information. The labor times are sourced from TecAlliance, ensuring reliability. With over 10,000 customers in 20+ countries, ALLDATA continues to support automotive repair businesses in achieving high standards.
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