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) 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.
AutoZone (NYSE: AZO) will announce its third-quarter financial results on May 24, 2022, prior to market opening. The conference call for discussing these results is scheduled for the same day at 10:00 a.m. (EST). Currently, AutoZone operates 6,815 stores across the Americas, providing a wide range of automotive parts and accessories. Investors can access the webcast and supporting slides through the company's website.
AutoZone, Inc. (NYSE: AZO) announced on March 22, 2022, a $2.0 billion addition to its ongoing share repurchase program, bringing total authorizations since 1998 to $31.2 billion. The CFO highlighted strong financial performance, emphasizing a commitment to returning cash to shareholders while maintaining investment-grade credit ratings. As of February 12, 2022, AutoZone operates 6,815 stores globally, underscoring its leading position in the automotive replacement parts market.
AutoZone (NYSE: AZO) reported net sales of $3.4 billion for Q2, a 15.8% increase year-over-year. Same-store sales grew by 13.8%, with commercial sales up 32.1%. Despite strong sales, gross profit margin decreased to 53.0%, primarily due to commercial growth initiatives. Operating expenses decreased to 34.4% of sales, driven by improved sales performance. Net income rose 36.4% to $471.8 million, and diluted earnings per share increased 49.4% to $22.30. The company repurchased 783k shares for $1.6 billion and opened 26 new stores
AutoZone (NYSE: AZO) appointed Michael George and Brian Hannasch to its Board of Directors, expanding its board to 11 members. Michael George previously led QVC and has extensive marketing experience, including a role at Dell. Brian Hannasch is the President and CEO of Alimentation Couche-Tard, known for operating Circle K. Chairman Bill Rhodes noted that their appointments enhance the board's depth in experience and skills, which is crucial for AutoZone’s growth strategy.
AutoZone, Inc. (NYSE: AZO) will announce its second-quarter results on March 1, 2022, before market open. The conference call to discuss these results will occur at 10:00 a.m. (EST) on the same day. Investors can access the call via AutoZone’s website or by dialing in. As of November 20, 2021, AutoZone operates 6,785 stores across the U.S., Mexico, and Brazil, focusing on automotive parts and accessories, with additional commercial sales programs available.
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