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.
Quotient (NYSE: QUOT) has launched the AutoZone Media Network, enhancing the digital marketing capabilities for AutoZone (NYSE: AZO). This platform utilizes first-party data from verified AutoZone shoppers to create targeted marketing campaigns, driving traffic to both online and physical stores. The pilot program has shown positive results, indicating significant potential for incremental sales. This partnership aims to leverage loyalty and CRM data, allowing vendor partners to execute various media tactics for greater campaign effectiveness.
AutoZone, the leading auto parts retailer, will release its first quarter results for the period ending November 20, 2021, on December 7, 2021, before market open. A conference call to discuss these results will be held the same day at 10:00 a.m. (EST), accessible via web stream or phone. With 6,767 stores across the U.S., Mexico, and Brazil, AutoZone continues to be a major player in the automotive parts sector, catering to both retail and commercial clients through its extensive product offerings.
AutoZone (NYSE: AZO) announced a $1.5 billion increase in its ongoing share repurchase program, bringing the total authorized repurchases to $27.65 billion since its inception in 1998. CFO Jamere Jackson highlighted that AutoZone's robust financial performance enables the company to return cash to shareholders while sustaining investment-grade credit ratings. The company's disciplined capital allocation strategy aims to enhance shareholder returns and maintain liquidity.
AutoZone reported net sales of $4.9 billion for Q4 fiscal 2021, reflecting an 8.1% increase compared to the previous year. Domestic same-store sales rose by 4.3%. Operating profit was $1.0 billion, a 2.6% increase, and net income was $785.8 million, up 6.1%. Diluted EPS increased 15.5% to $35.72. Gross profit margin slightly decreased to 52.3% due to investments in the Commercial business. AutoZone opened 76 new U.S. stores and repurchased 592,000 shares for $900 million in Q4, with $417.6 million remaining in its repurchase authorization.
AutoZone (NYSE:AZO) will announce its fourth-quarter results on September 21, 2021, before market open. A conference call scheduled for the same day at 10:00 a.m. EDT will discuss these results. As of May 8, 2021, AutoZone operates 6,657 stores, comprising 5,975 in the U.S., 635 in Mexico, and 47 in Brazil. The company is a leading distributor of automotive parts and accessories, offering a wide range of products and a commercial sales program for repair garages and service stations.
AutoZone (NYSE: AZO) has announced the promotions of Dennis Leriche and Grant McGee to Senior Vice Presidents, with a focus on Store Operations and Commercial, respectively. Both leaders, who will join the Executive Committee, have a history of delivering strong results. The company currently operates 6,657 stores across the U.S., Mexico, and Brazil, solidifying its position as a leading retailer of automotive replacement parts and accessories.
AutoZone (NYSE: AZO) announced key organizational changes effective June 17, 2021, aimed at enhancing growth. Phil Daniele moves to Executive Vice President, Merchandising, Marketing, and Supply Chain. Preston Frazer ascends to Executive Vice President, Store Operations, Commercial, and Loss Prevention. Tom Newbern takes on the role of Executive Vice President, International, IT, and ALLDATA, while Mark Finestone is promoted to Executive Vice President, Strategy, and Innovation. These promotions highlight the company's commitment to performance and strategic positioning for future growth.
On June 8, 2021, AutoZone (NYSE:AZO) honored 17 top suppliers at its virtual Vendor Partner Summit. The awards recognized vendors for exceptional performance and dedication to customer satisfaction. Eight vendors received the WITTDTJR® award, while nine were acknowledged with the Extra Miler award, showcasing their commitment to AutoZone's DIY and professional customers. Bosch Braking was named Vendor Partner of the Year for its innovation and quality execution. AutoZone operates 6,657 stores across the U.S., Mexico, and Brazil and is a leading distributor of automotive parts.
Unique Logistics International (OTCMKTS: UNQL) has secured a 12-month ocean freight contract with AutoZone Inc. (NYSE: AZO), marking a significant new partnership. The agreement facilitates transport and logistics from the Asia-Pacific region to North America until May 2022. CEO Sunandan Ray expressed enthusiasm about expanding relationships in the automotive sector, citing the importance of automotive parts delivery given the high volume of imports to the U.S. annually. This partnership is expected to leverage Unique Logistics' established capabilities in Asian manufacturing regions.
AutoZone, Inc. (NYSE: AZO) reported a robust 31.4% increase in net sales, reaching $3.7 billion for Q3 ended May 8, 2021. Domestic same-store sales rose by 28.9%, while operating profit surged 63.4% to $803.5 million. Net income expanded 73.9% year-over-year to $596.2 million, with diluted earnings per share increasing 84.0% to $26.48. The company's gross profit margin decreased by 118 basis points to 52.4% due to commercial growth and pricing investments. AutoZone opened 25 new stores, bringing its total to 6,657.
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