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 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.
AutoZone, Inc. (NYSE: AZO) has announced the return of Bill Hackney as Senior Vice President of Merchandising in October 2022. Hackney, a veteran with 37 years at AutoZone, previously retired in December 2020. The company expresses enthusiasm for leveraging his extensive knowledge of customer needs and business operations. As of August 27, 2022, AutoZone operates 6,943 stores across the Americas, making it a leading retailer of automotive replacement parts and accessories.
AutoZone (NYSE: AZO) has authorized an additional $2.5 billion share repurchase, increasing total repurchases to $33.7 billion since 1998. This decision reflects the company's strong financial performance, enabling it to return significant cash to shareholders while maintaining investment-grade credit ratings. CFO Jamere Jackson emphasized the company's commitment to disciplined capital allocation to enhance shareholder returns. As of August 27, 2022, AutoZone operates 6,943 stores across the U.S., Mexico, and Brazil, offering extensive automotive products.
AutoZone reported net sales of $5.3 billion for Q4 2022, an 8.9% increase from Q4 2021. Domestic same-store sales rose by 6.2%, with commercial sales growing by 22%. However, gross profit margin decreased to 51.5%, driven by commercial growth and rising freight costs. For the fiscal year, sales reached $16.3 billion, an 11.1% increase. Net income improved by 11.9% to $2.4 billion, with diluted EPS rising 23.1% to $117.19. AutoZone repurchased 2.2 million shares for $4.4 billion.
AutoZone, Inc. (NYSE: AZO) plans to release its fourth-quarter results for the period ending August 27, 2022, on September 19, 2022, before market open. A conference call will follow at 10:00 a.m. EDT, accessible via webcast on AutoZone's website. The company operates 6,846 stores across the Americas, including 6,115 in the U.S., 673 in Mexico, and 58 in Brazil, offering a wide range of automotive parts and accessories. AutoZone is the top retailer in this sector, providing both retail and commercial services.
AutoZone recognized top vendors at its 2022 Vendor Partner Summit, awarding six companies with the WITTDTJR® awards for exceptional customer service and performance. The Extra Miler awards honored eight vendors who exceeded expectations. Clarios was named the 2022 Vendor Partner of the Year for its remarkable support during challenging times. The summit celebrated collaborations that contribute to AutoZone's growth and increased market share, emphasizing the importance of vendor partnerships in meeting customer needs.
AutoZone reported a net sales increase to $3.9 billion for the third quarter ending May 7, 2022, reflecting a 5.9% growth from the prior year. Domestic same-store sales rose 2.6%, while commercial sales surged 26.0%. Despite these gains, gross profit margin fell to 51.91%, down 54 basis points, impacted by lower-margin commercial sales. Operating expenses increased to 31.58% of sales, leading to a 2.2% decline in operating profit to $785.7 million. Net income slightly decreased by 0.6% to $592.6 million, although diluted EPS rose by 9.6% to $29.03.
WEX (NYSE: WEX) has announced a new partnership with AutoZone (NYSE: AZO) that enables eligible WEX customers to buy automotive parts for Class 1–5 vehicles at national account pricing through the WEX EDGE savings network. This collaboration aims to reduce costs for businesses reliant on vehicle operation. The WEX EDGE platform already offers savings on fuel, tires, and hotel accommodations, and this addition aims to provide further discounts on auto parts purchases.
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