4th Quarter EPS Increases to
$14.30;Fiscal 2016 Sales $10.6
Billion;Fiscal 2016 EPS Increases to
$40.70
AutoZone, Inc. (NYSE:AZO) today reported net sales of $3.4 billion
for its fourth quarter (16 weeks) ended August 27, 2016, an
increase of 3.3% from the fourth quarter of fiscal 2015 (16 weeks).
Domestic same store sales, or sales for stores open at least
one year, increased 1.0% for the quarter.
Net income for the quarter increased 6.4% over the same period
last year to $426.8 million, while diluted earnings per share
increased 12.2% to $14.30 per share from $12.75 per share in the
year-ago quarter.
For the quarter, gross profit, as a percentage of sales, was
52.8% (versus 52.5% for the same period last year). The
improvement in gross margin was attributable to lower acquisition
costs, partially offset by higher supply chain costs associated
with current year inventory initiatives (-19 bps). Operating
expenses, as a percentage of sales, were 32.1% (versus 32.2% the
same period last year). The slight decrease in operating
expenses, as a percentage of sales, was primarily due to the
favorable comparison to last year’s higher legal costs (+30 bps),
partially offset by higher store payroll.
For the fiscal year ended August 27, 2016, sales were $10.6
billion, an increase of 4.4% from the prior year, while domestic
same store sales were up 2.4% for the year. Operating profit
increased 5.5% on an operating margin of 19.4%. For fiscal
2016, net income increased 7.0% to $1.2 billion, while diluted
earnings per share for the period increased 13.0% to $40.70 from
$36.03. Return on invested capital was 31.3%, while full year
cash flow before share repurchases and changes in debt was $1.167
billion.
Under its share repurchase program, AutoZone repurchased 482
thousand shares of its common stock for $370 million during the
fourth quarter, at an average price of $767 per share. For
the fiscal year, the Company repurchased 1.9 million shares of its
common stock for $1.45 billion, at an average price of $763 per
share. At year end, the Company had $395 million remaining
under its current share repurchase authorization.
The Company’s inventory increased 6.1% over the same period last
year, driven by new stores and increased product placement.
Inventory per location was $625 thousand versus $610 thousand last
year and $629 thousand last quarter. Net inventory, defined
as merchandise inventories less accounts payable, on a per location
basis, was a negative $80 thousand versus negative $79 thousand
last year and negative $69 thousand last quarter.
“I would like to thank our entire organization for the strong
performance delivered this past fiscal year. We are pleased
to report our fortieth consecutive quarter of double digit earnings
per share growth. Since our inception, we’ve been committed to
providing superior customer service and trustworthy advice: our key
points of differentiation. This commitment to our customers
leads us to deliver exceptional financial performance. For
the year, we reached many milestones which included generating
$10.6 billion in sales, opening 156 new domestic AutoZone stores,
43 AutoZone stores internationally, and six IMC branches.
Additionally, the ongoing rollout of our inventory availability
initiatives, including expanding our multi-deliveries per week to
stores and opening mega hub locations, has gone very well. We
expect to continue with these initiatives in 2017 while expanding
our supply chain network with the already announced planned
openings of two or three new domestic distribution centers over the
next few years. In order to continue to meet our customers’
needs across all selling channels, we continue to invest capital in
our product availability initiatives across our businesses.
While investing to grow, we will remain committed to our
disciplined approach to increasing operating earnings and utilizing
our capital effectively,” said Bill Rhodes, Chairman, President and
Chief Executive Officer.
During the quarter ended August 27, 2016, AutoZone opened 71 new
stores and relocated two stores in the U.S., opened 25 new stores
in Mexico, and opened one new IMC branch. As of August 27,
2016, the Company had 5,297 stores in 50 states in the U.S., the
District of Columbia and Puerto Rico, 483 stores in Mexico, 26 IMC
branches, and eight stores in Brazil for a total count of
5,814.
AutoZone is the leading retailer and a leading distributor of
automotive replacement parts and accessories in the United States.
Each AutoZone store carries an extensive product line for cars,
sport utility vehicles, vans and light trucks, including new and
remanufactured automotive hard parts, maintenance items,
accessories, and non-automotive products. Many stores also
have a commercial sales program that provides commercial credit and
prompt delivery of parts and other products to local, regional and
national repair garages, dealers, service stations, and public
sector accounts. IMC branches carry an extensive line of
original equipment quality import replacement parts. AutoZone
also sells the ALLDATA brand diagnostic and repair software through
www.alldata.com. Additionally, we sell automotive hard parts,
maintenance items, accessories, and non-automotive products through
www.autozone.com, and accessories, performance and replacement
parts through www.autoanything.com, and our commercial customers
can make purchases through www.autozonepro.com
and www.imcparts.net. AutoZone does not derive revenue
from automotive repair or installation.
AutoZone will host a conference call this morning, Thursday,
September 22, 2016, beginning at 10:00 a.m. (EDT) to discuss its
fourth quarter results. Investors may listen to the
conference call live and review supporting slides on the AutoZone
corporate website, www.autozoneinc.com by clicking “Investor
Relations,” “Conference Calls.” The call will also be
available by dialing (210) 839-8923. A replay of the call and
slides will be available on AutoZone’s website. In addition,
a replay of the call will be available by dialing (203) 369-1211
through Thursday, September 29, 2016, at 11:59 p.m. (EDT).
This release includes certain financial information not derived
in accordance with generally accepted accounting principles
(“GAAP”). These non-GAAP measures include adjustments to
reflect return on invested capital, adjusted debt, adjusted debt to
EBITDAR, and cash flow before share repurchases. The Company
believes that the presentation of these non-GAAP measures provides
information that is useful to investors as it indicates more
clearly the Company’s comparative year-to-year operating results,
but this information should not be considered a substitute for any
measures derived in accordance with GAAP. Management targets
the Company’s capital structure in order to maintain its investment
grade credit ratings and manages cash flows available for share
repurchase by monitoring cash flows before share repurchases, as
shown on the attached tables. The Company believes this is
important information for the management of its debt levels and
share repurchases. We have included a reconciliation of this
additional information to the most comparable GAAP measures in the
accompanying reconciliation tables.
Certain statements contained in this press release are
forward-looking statements. Forward-looking statements typically
use words such as “believe,” “anticipate,” “should,” “intend,”
“plan,” “will,” “expect,” “estimate,” “project,” “positioned,”
“strategy” and similar expressions. These are based on assumptions
and assessments made by our management in light of experience and
perception of historical trends, current conditions, expected
future developments and other factors that we believe to be
appropriate. These forward-looking statements are subject to a
number of risks and uncertainties, including without limitation:
credit market conditions; the impact of recessionary conditions;
competition; product demand; the ability to hire and retain
qualified employees; consumer debt levels; inflation; weather; raw
material costs of our suppliers; energy prices; war and the
prospect of war, including terrorist activity; construction delays;
access to available and feasible financing; the compromising of the
confidentiality, availability or integrity of information,
including cyber security attacks; and changes in laws or
regulations. Certain of these risks are discussed in more detail in
the “Risk Factors” section contained in Item 1A under Part 1 of the
Annual Report on Form 10-K for the year ended August 29, 2015, and
these Risk Factors should be read carefully. Forward-looking
statements are not guarantees of future performance and actual
results; developments and business decisions may differ from those
contemplated by such forward-looking statements, and events
described above and in the “Risk Factors” could materially and
adversely affect our business. Forward-looking statements speak
only as of the date made. Except as required by applicable law, we
undertake no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise. Actual results may materially differ from anticipated
results.
AutoZone's 4th Quarter Highlights - Fiscal
2016 |
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
4th Quarter, FY2016 |
|
|
|
|
(in
thousands, except per share data) |
|
|
|
|
|
|
|
|
GAAP
Results |
|
|
|
|
16 Weeks
Ended |
|
16 Weeks
Ended |
|
|
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
|
|
|
|
|
Net
sales |
|
$ |
3,398,769 |
|
|
$ |
3,290,404 |
|
Cost of
sales |
|
|
1,604,021 |
|
|
|
1,562,856 |
|
Gross
profit |
|
|
1,794,748 |
|
|
|
1,727,548 |
|
Operating,
SG&A expenses |
|
|
1,091,382 |
|
|
|
1,058,276 |
|
Operating
profit (EBIT) |
|
|
703,366 |
|
|
|
669,272 |
|
Interest
expense, net |
|
|
45,789 |
|
|
|
47,065 |
|
Income
before taxes |
|
|
657,577 |
|
|
|
622,207 |
|
Income
taxes |
|
|
230,809 |
|
|
|
221,070 |
|
Net
income |
|
$ |
426,768 |
|
|
$ |
401,137 |
|
Net income
per share: |
|
|
|
|
|
Basic |
|
$ |
14.58 |
|
|
$ |
13.02 |
|
|
Diluted |
|
$ |
14.30 |
|
|
$ |
12.75 |
|
Weighted
average shares outstanding: |
|
|
|
|
|
Basic |
|
|
29,280 |
|
|
|
30,813 |
|
|
Diluted |
|
|
29,847 |
|
|
|
31,469 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal 2016 |
|
|
|
|
(in
thousands, except per share data) |
|
GAAP
Results |
|
|
|
|
52 Weeks
Ended |
|
52 Weeks
Ended |
|
|
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
|
|
|
|
|
Net
sales |
|
$ |
10,635,676 |
|
|
$ |
10,187,340 |
|
Cost of
sales |
|
|
5,026,940 |
|
|
|
4,860,309 |
|
Gross
profit |
|
|
5,608,736 |
|
|
|
5,327,031 |
|
Operating,
SG&A expenses |
|
|
3,548,341 |
|
|
|
3,373,980 |
|
Operating
profit (EBIT) |
|
|
2,060,395 |
|
|
|
1,953,051 |
|
Interest
expense, net |
|
|
147,681 |
|
|
|
150,439 |
|
Income
before taxes |
|
|
1,912,714 |
|
|
|
1,802,612 |
|
Income
taxes |
|
|
671,707 |
|
|
|
642,371 |
|
Net
income |
|
$ |
1,241,007 |
|
|
$ |
1,160,241 |
|
Net income
per share: |
|
|
|
|
|
Basic |
|
$ |
41.52 |
|
|
$ |
36.76 |
|
|
Diluted |
|
$ |
40.70 |
|
|
$ |
36.03 |
|
Weighted
average shares outstanding: |
|
|
|
|
|
Basic |
|
|
29,889 |
|
|
|
31,560 |
|
|
Diluted |
|
|
30,488 |
|
|
|
32,206 |
|
|
|
|
|
|
|
|
Selected Balance Sheet Information |
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
|
|
|
|
|
Cash and
cash equivalents |
|
$ |
189,734 |
|
|
$ |
175,309 |
|
Merchandise
inventories |
|
|
3,631,916 |
|
|
|
3,421,635 |
|
Current
assets |
|
|
4,239,573 |
|
|
|
3,970,294 |
|
Property and equipment, net |
|
|
3,733,254 |
|
|
|
3,505,632 |
|
Total
assets |
|
|
8,599,787 |
|
|
|
8,102,349 |
|
Accounts
payable |
|
|
4,095,854 |
|
|
|
3,864,168 |
|
Current
liabilities |
|
|
4,690,320 |
|
|
|
4,712,873 |
|
Total
debt |
|
|
4,924,119 |
|
|
|
4,624,876 |
|
Stockholders' deficit |
|
|
(1,787,538 |
) |
|
|
(1,701,390 |
) |
Working capital |
|
|
(450,747 |
) |
|
|
(742,579 |
) |
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Debt / EBITDAR (Trailing 4 Qtrs) |
|
|
|
|
|
|
|
(in
thousands, except adjusted debt to EBITDAR ratio) |
|
|
|
|
|
|
|
|
|
|
|
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
|
|
|
Net income |
|
$ |
1,241,007 |
|
|
$ |
1,160,241 |
|
|
|
|
|
|
Add:
Interest |
|
|
147,681 |
|
|
|
150,439 |
|
|
|
|
|
|
Taxes |
|
|
671,707 |
|
|
|
642,371 |
|
|
|
|
|
|
EBIT |
|
|
|
2,060,395 |
|
|
|
1,953,051 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Depreciation and amortization |
|
|
297,397 |
|
|
|
269,919 |
|
|
|
|
|
|
Rent expense |
|
|
280,490 |
|
|
|
269,458 |
|
|
|
|
|
|
Share-based
expense |
|
|
39,825 |
|
|
|
40,995 |
|
|
|
|
|
|
EBITDAR |
|
$ |
2,678,107 |
|
|
$ |
2,533,423 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
$ |
4,924,119 |
|
|
$ |
4,624,876 |
|
|
|
|
|
|
Capital lease obligations |
|
|
147,285 |
|
|
|
128,167 |
|
|
|
|
|
|
Add: rent x 6 |
|
|
1,682,940 |
|
|
|
1,616,748 |
|
|
|
|
|
|
Adjusted debt |
|
$ |
6,754,344 |
|
|
$ |
6,369,791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted debt to EBITDAR |
|
|
2.5 |
|
|
|
2.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Cash Flow Information |
|
|
|
|
|
|
|
|
|
(in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks
Ended |
|
16 Weeks
Ended |
|
|
52 Weeks
Ended |
|
52 Weeks
Ended |
|
|
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
93,932 |
|
|
$ |
86,708 |
|
|
|
$ |
297,397 |
|
|
$ |
269,919 |
|
Capital spending |
|
|
188,869 |
|
|
|
187,834 |
|
|
|
|
488,791 |
|
|
|
480,579 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow before share repurchases: |
|
|
|
|
|
|
|
|
|
(Decrease)/increase in cash and cash equivalents |
|
$ |
(23,646 |
) |
|
$ |
22,021 |
|
|
|
$ |
14,425 |
|
|
$ |
50,824 |
|
Subtract (decrease)/increase in debt, excluding deferred
financing |
|
(31,000 |
) |
|
|
113,100 |
|
|
|
|
299,900 |
|
|
|
303,800 |
|
Add back share repurchases |
|
|
369,737 |
|
|
|
430,498 |
|
|
|
|
1,452,462 |
|
|
|
1,271,416 |
|
Cash flow
before share repurchases and changes in debt |
|
$ |
377,091 |
|
|
$ |
339,419 |
|
|
|
$ |
1,166,987 |
|
|
$ |
1,018,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Selected Financial Information |
|
|
|
|
|
|
|
|
|
(in
thousands, except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases ($ since fiscal 1998) |
|
$ |
16,754,649 |
|
|
$ |
15,302,186 |
|
|
|
|
|
|
Remaining share repurchase authorization ($) |
|
|
395,351 |
|
|
|
347,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases (shares since fiscal 1998) |
|
|
140,795 |
|
|
|
138,891 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares
outstanding, end of quarter |
|
|
29,118 |
|
|
|
30,659 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
|
|
August 27,
2016 |
|
August 29,
2015 |
|
|
|
|
Net income |
|
$ |
1,241,007 |
|
|
$ |
1,160,241 |
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
147,681 |
|
|
|
150,439 |
|
|
|
|
|
|
Rent expense |
|
|
280,490 |
|
|
|
269,458 |
|
|
|
|
|
|
Tax effect* |
|
|
(150,288 |
) |
|
|
(149,483 |
) |
|
|
|
|
|
After-tax return |
|
|
1,518,890 |
|
|
|
1,430,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average debt** |
|
|
4,820,402 |
|
|
|
4,458,114 |
|
|
|
|
|
|
Average stockholders' deficit** |
|
|
(1,774,329 |
) |
|
|
(1,619,596 |
) |
|
|
|
|
|
Add: Rent x 6 |
|
|
1,682,940 |
|
|
|
1,616,748 |
|
|
|
|
|
|
Average capital lease obligations** |
|
|
131,008 |
|
|
|
126,096 |
|
|
|
|
|
|
Pre-tax invested capital |
|
$ |
4,860,021 |
|
|
$ |
4,581,362 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on Invested Capital (ROIC) |
|
|
31.3 |
% |
|
|
31.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*Effective tax rate over trailing four quarters ended August
27, 2016 is 35.1% and August 29, 2015 is 35.6%. |
**All averages are computed based on trailing 5 quarter
balances. |
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 4th Quarter Fiscal 2016 |
|
|
|
|
|
|
|
|
|
|
|
Selected Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Location Count & Square Footage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
|
|
16 Weeks Ended |
|
|
52 Weeks Ended |
|
|
|
52 Weeks Ended |
|
|
|
|
|
|
August 27, 2016 |
|
|
|
August 29, 2015 |
|
|
August 27, 2016 |
|
|
|
August 29, 2015 |
AutoZone Domestic stores (Domestic): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store
count: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning domestic
stores |
|
|
|
5,226 |
|
|
|
|
|
5,069 |
|
|
|
|
5,141 |
|
|
|
|
|
4,984 |
|
|
Stores opened |
|
|
|
71 |
|
|
|
|
|
72 |
|
|
|
|
156 |
|
|
|
|
|
158 |
|
|
Stores closed |
|
|
|
- |
|
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
|
1 |
|
|
Ending domestic
stores |
|
|
|
5,297 |
|
|
|
|
|
5,141 |
|
|
|
|
5,297 |
|
|
|
|
|
5,141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated stores |
|
|
|
2 |
|
|
|
|
|
2 |
|
|
|
|
6 |
|
|
|
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with commercial
programs |
|
|
|
4,390 |
|
|
|
|
|
4,141 |
|
|
|
|
4,390 |
|
|
|
|
|
4,141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in
thousands) |
|
|
|
34,575 |
|
|
|
|
|
33,515 |
|
|
|
|
34,575 |
|
|
|
|
|
33,515 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone Mexico stores: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores opened |
|
|
|
25 |
|
|
|
|
|
23 |
|
|
|
|
42 |
|
|
|
|
|
39 |
|
|
Total stores in
Mexico |
|
|
|
483 |
|
|
|
|
|
441 |
|
|
|
|
483 |
|
|
|
|
|
441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone Brazil stores: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores opened |
|
|
|
- |
|
|
|
|
|
- |
|
|
|
|
1 |
|
|
|
|
|
2 |
|
|
Total stores in
Brazil |
|
|
|
8 |
|
|
|
|
|
7 |
|
|
|
|
8 |
|
|
|
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total AutoZone stores |
|
|
|
5,788 |
|
|
|
|
|
5,589 |
|
|
|
|
5,788 |
|
|
|
|
|
5,589 |
|
|
Square footage (in
thousands) |
|
|
|
38,198 |
|
|
|
|
|
36,815 |
|
|
|
|
38,198 |
|
|
|
|
|
36,815 |
|
|
Square footage per
store |
|
|
|
6,600 |
|
|
|
|
|
6,587 |
|
|
|
|
6,600 |
|
|
|
|
|
6,587 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMC
branches: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Branches opened |
|
|
|
1 |
|
|
|
|
|
2 |
|
|
|
|
6 |
|
|
|
|
|
3 |
|
|
Branches acquired |
|
|
|
- |
|
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
|
17 |
|
|
Total IMC branches |
|
|
|
26 |
|
|
|
|
|
20 |
|
|
|
|
26 |
|
|
|
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total locations chainwide |
|
|
|
5,814 |
|
|
|
|
|
5,609 |
|
|
|
|
5,814 |
|
|
|
|
|
5,609 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Statistics |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in
thousands, except sales per average square foot) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
|
|
16 Weeks Ended |
|
|
52 Weeks Ended |
|
|
|
52 Weeks Ended |
Total AutoZone stores (Domestic, Mexico and
Brazil) |
August 27, 2016 |
|
|
|
August 29, 2015 |
|
|
August 27, 2016 |
|
|
|
August 29, 2015 |
|
Sales per average
store |
|
|
$ |
562 |
|
|
|
|
$ |
564 |
|
|
|
$ |
1,773 |
|
|
|
|
$ |
1,761 |
|
|
Sales per average
square foot |
|
|
$ |
85 |
|
|
|
|
$ |
86 |
|
|
|
$ |
269 |
|
|
|
|
$ |
268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Auto Parts (Domestic, Mexico, Brazil, and
IMC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total auto parts
sales |
|
|
$ |
3,282,699 |
|
|
|
|
$ |
3,179,164 |
|
|
|
$ |
10,261,112 |
|
|
|
|
$ |
9,824,876 |
|
|
% Increase vs. LY |
|
|
|
3.3 |
% |
|
|
|
|
8.1 |
% |
|
|
|
4.4 |
% |
|
|
|
|
7.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic Commercial (Excludes IMC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total domestic
commercial sales |
|
|
$ |
635,148 |
|
|
|
|
$ |
603,647 |
|
|
|
$ |
1,951,919 |
|
|
|
|
$ |
1,822,069 |
|
|
% Increase vs. LY |
|
|
|
5.2 |
% |
|
|
|
|
13.1 |
% |
|
|
|
7.1 |
% |
|
|
|
|
12.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All
Other (ALLDATA, E-Commerce, and AutoAnything) |
|
|
|
|
|
|
|
|
|
|
|
|
|
All other sales |
|
|
$ |
116,069 |
|
|
|
|
$ |
111,239 |
|
|
|
$ |
374,564 |
|
|
|
|
$ |
362,463 |
|
|
% Increase vs. LY |
|
|
|
4.3 |
% |
|
|
|
|
2.0 |
% |
|
|
|
3.3 |
% |
|
|
|
|
5.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16 Weeks Ended |
|
|
|
16 Weeks Ended |
|
|
52 Weeks Ended |
|
|
|
52 Weeks Ended |
|
|
|
|
|
|
August 27, 2016 |
|
|
|
August 29, 2015 |
|
|
August 27, 2016 |
|
|
|
August 29, 2015 |
Domestic same store
sales |
|
|
|
1.0 |
% |
|
|
|
|
4.5 |
% |
|
|
|
2.4 |
% |
|
|
|
|
3.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory Statistics (Total Locations) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as of |
|
|
|
as of |
|
|
|
|
|
|
|
|
|
|
|
|
|
August 27, 2016 |
|
|
|
August 29, 2015 |
|
|
|
|
|
|
|
|
Accounts
payable/inventory |
|
|
|
112.8 |
% |
|
|
|
|
112.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
|
|
$ |
3,631,916 |
|
|
|
|
$ |
3,421,635 |
|
|
|
|
|
|
|
|
|
Inventory per
location |
|
|
|
625 |
|
|
|
|
|
610 |
|
|
|
|
|
|
|
|
|
Net inventory (net of
payables) |
|
|
|
(463,938 |
) |
|
|
|
|
(442,533 |
) |
|
|
|
|
|
|
|
|
Net inventory /
per location |
|
|
|
(80 |
) |
|
|
|
|
(79 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5 Quarters |
|
|
|
|
|
|
|
|
|
|
|
|
|
August 27, 2016 |
|
|
|
August 29, 2015 |
|
|
|
|
|
|
|
|
Inventory turns |
|
|
|
1.4 |
|
x |
|
|
|
1.4 |
|
x |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact Information:
Financial: Brian Campbell at (901) 495-7005, brian.campbell@autozone.com
Media: Ray Pohlman at (866) 966-3017, ray.pohlman@autozone.com
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