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 a retailer and distributor of automotive replacement parts and accessories in the Americas, and its news flow reflects both operational performance and corporate developments. Company updates frequently highlight net sales, same store sales for domestic and international stores, gross profit trends, operating profit, net income and diluted earnings per share for each fiscal quarter and full year.
Investors following AutoZone news can see detailed breakdowns of domestic and international same store sales, often presented on both reported and constant currency bases. Earnings releases discuss factors affecting gross margin and operating expenses, such as non-cash LIFO impacts, merchandise margins, inventory shrink, commercial sales mix, new distribution center startup costs, self-insurance expense and investments tied to growth initiatives. These disclosures help readers understand how operational decisions and external conditions influence profitability.
AutoZone news items also cover store growth and geographic expansion. The company regularly reports the number of new stores opened and closed in the U.S., Mexico and Brazil, along with total store counts at quarter end. These updates provide context on how AutoZone is expanding its footprint across the Americas and how store growth relates to its same store sales performance.
Corporate governance and capital allocation are recurring themes in AutoZone’s announcements. Press releases describe share repurchase authorizations and activity, including total shares repurchased and remaining authorization under the program. Other news highlights board and management changes, such as executive retirements, new appointments, board succession planning and the addition of new independent directors.
In addition, AutoZone issues notices about upcoming earnings releases and conference calls, as well as its Annual Meeting of Stockholders. These communications specify when financial results will be released and how investors can access webcasts and replays. For readers of AZO news on Stock Titan, this page consolidates these earnings updates, governance developments and strategic announcements into a single, searchable stream.
AutoZone (NYSE: AZO) has announced the appointment of Kenneth Jaycox as Senior Vice President, Commercial, Customer Satisfaction. Jaycox joins AutoZone from United States Steel , where he served as Senior Vice President and Chief Commercial Officer. His previous experience includes leadership roles at Sysco and various positions in commercial sales, customer engagement, business strategy, procurement, marketing, and operations.
Jaycox will be a member of AutoZone's Executive Committee and report to Tom Newbern, Chief Operating Officer, Customer Satisfaction. Phil Daniele, President and CEO, Customer Satisfaction, expressed confidence in Jaycox's ability to serve customers and drive accelerated sales growth for the company.
AutoZone has announced that its Board of Directors has authorized an additional $1.5 billion for the company's ongoing share repurchase program. This increases the total authorized repurchases to $39.2 billion since the program started in 1998. CFO Jamere Jackson emphasized that the company’s strong free cash flow and investment grade credit ratings allow for this increase while maintaining financial discipline. The company is committed to a disciplined capital allocation policy to drive growth and maintain liquidity.
AutoZone (NYSE: AZO) held its annual Vendor Summit on June 5, 2024, in Memphis, Tennessee, recognizing 17 top suppliers for their outstanding performance and commitment to customer satisfaction. JK Fenner, a specialist in Mechanical Power Transmission products, earned the 2024 Vendor of the Year award for exceptional customer service and operational excellence. Other notable awards included the Extra Miler award for seven vendors like Baofeng and Valvoline, the Ray of Hope award to Great Neck Saw for community contributions, and the International Vendor of Excellence award to Reach Cooling for their international market insights. The WITTDTJR® award was given to seven vendors for product innovations and customer experience improvements.
AutoZone (NYSE: AZO) reported its Q3 fiscal 2024 earnings, showing net sales of $4.2 billion, up 3.5% from last year. While total company same store sales increased by 0.9%, domestic same store sales remained flat. International same store sales saw significant growth at 18.1% (constant currency basis). The gross profit margin rose to 53.5%, bolstered by higher merchandise margins and a 15 basis point non-cash LIFO favorability. Operating expenses increased to 32.2% of sales, primarily due to higher store payroll costs. Operating profit grew by 4.9% to $900.2 million, with a net income of $651.7 million and a 7.5% increase in diluted EPS to $36.69. AutoZone repurchased 242,000 shares for $734.7 million. The company opened 45 new stores, bringing the total count to 7,236.
AutoZone, Inc. (NYSE: AZO) will release its third quarter fiscal 2024 earnings on May 21, 2024. The leading retailer of automotive replacement parts in the Americas will host a conference call to discuss the results. Investors can access the call via webcast or telephone replay.
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