Autozone - AZO STOCK NEWS

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.

AutoZone reported Q1 net sales of $4.0 billion, an 8.6% increase year-over-year. Domestic same-store sales rose 5.6%, while commercial sales grew 15%. However, gross profit margin declined to 50.1%, down 242 basis points due to rising costs. Operating profit fell 4.2% to $723 million, and net income decreased 2.9% to $539.3 million. Diluted EPS increased 6.9% to $27.45. The company repurchased 392,000 shares for $900 million. AutoZone opened 35 new stores across the U.S., Mexico, and Brazil.

AutoZone, Inc. (NYSE:AZO) will hold its Annual Meeting of Stockholders on December 14, 2022, at the J.R. Hyde III Store Support Center in Memphis, Tennessee, starting at 9:00 a.m. (ET). The meeting will also be accessible via webcast on AutoZone’s website under Investor Relations. As of August 27, 2022, AutoZone operates 6,943 stores across the U.S., Mexico, and Brazil, maintaining its position as a leading retailer of automotive parts and accessories in the Americas.

AutoZone (NYSE: AZO) will announce its first-quarter results for the period ending November 19, 2022, on December 6, 2022, before market opening. A conference call will follow, where the company will discuss these results. As of August 27, 2022, AutoZone operates 6,943 stores across the Americas. The company focuses on automotive replacement parts and offers extensive products for various vehicles, including commercial sales programs in many locations.