AutoZone, Inc. (NYSE: AZO) today reported net sales of $2.5 billion
for its second quarter (12 weeks) ended February 15, 2020, an
increase of 2.6% from the second quarter of fiscal 2019 (12
weeks). Domestic same store sales, or sales for stores open
at least one year, decreased 0.8% for the quarter.
Operating profit increased 2.0% to $407.9 million. Net income
for the quarter increased 1.6% over the same period last year to
$299.3 million, while diluted earnings per share increased 7.8% to
$12.39 per share from $11.49 per share in the year-ago quarter.
For the quarter, gross profit, as a percentage of sales,
increased to 54.3% (versus 54.1% the same period last year)
primarily driven by supply chain leverage. Operating expenses, as a
percentage of sales, were 38.1% (versus 37.7% the same period last
year), with deleverage primarily driven by domestic store
payroll.
Under its share repurchase program, AutoZone repurchased 267
thousand shares of its common stock for $314.8 million during the
second quarter, at an average price of $1,180 per share. At
the end of the second quarter, the Company had $962 million
remaining under its current share repurchase authorization.
The Company’s inventory increased 7.0% over the same period last
year, driven by new stores and increased product placement.
Inventory per store was $713 thousand versus $690 thousand last
year and $694 thousand last quarter. Net inventory, defined
as merchandise inventories less accounts payable, on a per store
basis, was a negative $41 thousand versus negative $58 thousand
last year and negative $71 thousand last quarter.
“I would like to thank all AutoZoners across the enterprise for
their strong focus on delivering an excellent and differentiated
customer experience. Our sales performance in our fiscal
second quarter did not meet our plans or expectations. We had
particularly challenging sales in specific weather sensitive
categories and geographies, indicating to us that the mild winter
was a considerable headwind to our and our industry’s sales
performance. In light of the challenging sales environment,
our team again delivered solid earnings, growing EBIT by 2.0% and
EPS by 7.8%. As we enter our seasonally strong second half of
the year, we are optimistic about our prospects for the balance of
the year. We continue to make good progress on our strategic
initiatives primarily focused on great service, further penetration
of the Commercial market, enhanced inventory assortments, improved
local market expanded parts availability and leveraging technology
to improve customer interactions and make us more efficient.
We will continue to manage this business for the long-term and will
invest capital using our disciplined approach all focused on
delivering great service, terrific opportunities for our AutoZoners
and ultimately strong returns for our investors while supporting
the communities we serve,” said Bill Rhodes, Chairman, President
and Chief Executive Officer.
During the quarter ended February 15, 2020, AutoZone opened 25
new stores in the U.S., two in Mexico and one in Brazil. As
of February 15, 2020, the Company had 5,815 stores in the U.S., 608
stores in Mexico and 38 stores in Brazil for a total store count of
6,461.
AutoZone is the leading retailer and a leading distributor of
automotive replacement parts and accessories in the Americas.
Each 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. We also have commercial programs in stores in
Mexico and Brazil. AutoZone also sells the ALLDATA brand
automotive diagnostic and repair software through www.alldata.com
and www.alldatadiy.com. Additionally, we sell automotive hard
parts, maintenance items, accessories, and non-automotive products
through www.autozone.com and our commercial customers can make
purchases through www.autozonepro.com. We also provide product
information on our Duralast branded products through
www.duralastparts.com. AutoZone does not derive revenue from
automotive repair or installation services.
AutoZone will host a conference call this morning, Tuesday,
March 3, 2020, beginning at 10:00 a.m. (EST) to discuss its second
quarter results. Investors may listen to the conference call
live and review supporting slides on the AutoZone corporate
website, www.autozone.com by clicking “Investor Relations,” located
at the bottom of the page. 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
Friday, April 3, at 11:59 p.m. (EST).
This release includes certain financial information not derived
in accordance with generally accepted accounting principles
(“GAAP”). These non-GAAP financial measures include
adjustments to reflect return on invested capital, adjusted debt
and adjusted debt to EBITDAR. These calculations include
adjustments for pension termination charges and deferred tax
liabilities. 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 constitute
forward-looking statements that are subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements typically use words such as “believe,”
“anticipate,” “should,” “intend,” “plan,” “will,” “expect,”
“estimate,” “project,” “positioned,” “strategy,” “seek,” “may,”
“could” 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:
product demand; energy prices; weather; competition; credit market
conditions; cash flows; access to available and feasible financing;
future stock repurchases; the impact of recessionary conditions;
consumer debt levels; changes in laws or regulations; war and the
prospect of war, including terrorist activity; inflation; the
ability to hire, train and retain qualified employees; construction
delays; the compromising of confidentiality, availability or
integrity of information, including cyber-attacks; historic growth
rate sustainability; downgrade of our credit ratings; damages to
our reputation; challenges in international markets; failure or
interruption of our information technology systems; origin and raw
material costs of suppliers; disruption in our supply chain, due to
public health epidemics or otherwise; impact of tariffs;
anticipated impact of new accounting standards; and business
interruptions. Certain of these risks and uncertainties 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 31, 2019, 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.
Contact Information:Financial: Brian Campbell at (901) 495-7005,
brian.campbell@autozone.comMedia: David McKinney at (901) 495-7951,
david.mckinney@autozone.com
|
|
AutoZone's 2nd Quarter Highlights - Fiscal
2020 |
Condensed Consolidated Statements of
Operations |
2nd Quarter, FY2020 |
(in thousands, except per share data) |
|
|
|
GAAP Results |
|
|
|
|
12 Weeks Ended |
|
12 Weeks Ended |
|
|
|
|
February 15, 2020 |
|
February 9, 2019 |
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
2,513,663 |
|
|
$ |
2,450,568 |
|
|
|
Cost of sales |
|
|
1,147,600 |
|
|
|
1,125,461 |
|
|
|
Gross profit |
|
|
1,366,063 |
|
|
|
1,325,107 |
|
|
|
Operating, SG&A expenses |
|
|
958,125 |
|
|
|
925,087 |
|
|
|
Operating profit (EBIT) |
|
|
407,938 |
|
|
|
400,020 |
|
|
|
Interest expense, net |
|
|
44,335 |
|
|
|
41,362 |
|
|
|
Income before taxes |
|
|
363,603 |
|
|
|
358,658 |
|
|
|
Income taxes(1) |
|
|
64,321 |
|
|
|
64,020 |
|
|
|
Net income |
|
$ |
299,282 |
|
|
$ |
294,638 |
|
|
|
Net income per share: |
|
|
|
|
|
|
Basic |
|
$ |
12.70 |
|
|
$ |
11.71 |
|
|
|
Diluted |
|
$ |
12.39 |
|
|
$ |
11.49 |
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
Basic |
|
|
23,570 |
|
|
|
25,166 |
|
|
|
Diluted |
|
|
24,160 |
|
|
|
25,643 |
|
|
|
|
(1)The Company's effective tax rate was 17.7% for the twelve weeks
ended February 15, 2020 and 17.8% for the comparable prior year
period. The twelve weeks ended February 15, 2020 and the comparable
prior year period include $15.0M and $14.0M in excess tax benefits
from stock option exercises, respectively. |
|
Year-To-Date 2nd Quarter, FY2020 |
|
|
|
|
|
|
(in thousands, except per share data) |
|
GAAP Results |
|
|
|
|
24 Weeks Ended |
|
24 Weeks Ended |
|
|
|
|
February 15, 2020 |
|
February 9, 2019 |
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
5,306,700 |
|
|
$ |
5,092,302 |
|
|
|
Cost of sales |
|
|
2,439,569 |
|
|
|
2,349,721 |
|
|
|
Gross profit |
|
|
2,867,131 |
|
|
|
2,742,581 |
|
|
|
Operating, SG&A expenses |
|
|
1,959,170 |
|
|
|
1,854,742 |
|
|
|
Operating profit (EBIT) |
|
|
907,961 |
|
|
|
887,839 |
|
|
|
Interest expense, net |
|
|
88,078 |
|
|
|
80,369 |
|
|
|
Income before taxes |
|
|
819,883 |
|
|
|
807,470 |
|
|
|
Income taxes(2) |
|
|
170,263 |
|
|
|
161,426 |
|
|
|
Net income |
|
$ |
649,620 |
|
|
$ |
646,044 |
|
|
|
Net income per share: |
|
|
|
|
|
|
Basic |
|
$ |
27.38 |
|
|
$ |
25.44 |
|
|
|
Diluted |
|
$ |
26.70 |
|
|
$ |
24.97 |
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
Basic |
|
|
23,722 |
|
|
|
25,397 |
|
|
|
Diluted |
|
|
24,326 |
|
|
|
25,870 |
|
|
|
|
(2)The Company's effective tax rate was 20.8% for the twenty-four
weeks ended February 15, 2020 and 20.0% for the comparable prior
year period. The twenty-four weeks ended February 15, 2020 and the
comparable prior year period include $16.5M and $25.2M in excess
tax benefits from stock option exercises, respectively. |
|
Selected Balance Sheet Information |
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
February 15, 2020 |
|
February 9, 2019 |
|
August 31, 2019 |
Cash and cash equivalents |
|
$ |
152,970 |
|
|
$ |
195,665 |
|
|
$ |
176,300 |
|
Merchandise inventories |
|
|
4,606,211 |
|
|
|
4,305,469 |
|
|
|
4,319,113 |
|
Current Assets |
|
|
5,300,547 |
|
|
|
4,997,072 |
|
|
|
5,028,685 |
|
Property and equipment, net |
|
|
4,476,426 |
|
|
|
4,269,923 |
|
|
|
4,398,751 |
|
Operating lease right-of-use assets |
|
|
2,579,217 |
|
|
|
- |
|
|
|
- |
|
Total Assets |
|
|
12,863,749 |
|
|
|
9,745,095 |
|
|
|
9,895,913 |
|
Accounts payable |
|
|
4,869,914 |
|
|
|
4,669,568 |
|
|
|
4,864,912 |
|
Current Liabilities |
|
|
5,779,560 |
|
|
|
5,334,303 |
|
|
|
5,512,141 |
|
Operating lease liabilities - long-term |
|
|
2,494,840 |
|
|
|
- |
|
|
|
- |
|
Total debt |
|
|
5,451,471 |
|
|
|
5,111,201 |
|
|
|
5,206,344 |
|
Stockholders' deficit |
|
|
(1,711,119 |
) |
|
|
(1,594,362 |
) |
|
|
(1,713,851 |
) |
Working capital |
|
|
(479,013 |
) |
|
|
(337,231 |
) |
|
|
(483,456 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone's 2nd
Quarter Highlights - Fiscal 2020 |
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Debt / EBITDAR |
|
|
|
|
|
|
|
|
(in thousands, except adjusted debt to EBITDAR ratio) |
|
Trailing 4
Quarters |
|
|
|
|
|
|
February 15, 2020 |
|
February 9, 2019 |
|
|
|
|
Net income |
|
|
$ |
1,620,797 |
|
$ |
1,413,047 |
|
|
|
|
Add: |
Pension termination charge before tax |
|
- |
|
130,263 |
|
|
|
|
|
Interest expense |
|
192,513 |
|
176,667 |
|
|
|
|
|
Income tax expense |
|
422,949 |
|
435,129 |
|
|
|
|
Adjusted EBIT |
|
2,236,259 |
|
2,155,106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: |
Depreciation and amortization |
|
384,147 |
|
353,977 |
|
|
|
|
|
Rent expense(1) |
|
339,117 |
|
317,228 |
|
|
|
|
|
Share-based expense |
|
43,804 |
|
41,468 |
|
|
|
|
Adjusted EBITDAR |
|
$ |
3,003,327 |
|
$ |
2,867,779 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
$ |
5,451,471 |
|
$ |
5,111,201 |
|
|
|
|
Financing Lease Liabilities |
|
196,047 |
|
154,923 |
|
|
|
|
Add: rent x 6(1) |
|
2,034,702 |
|
1,903,368 |
|
|
|
|
Adjusted debt |
|
$ |
7,682,220 |
|
$ |
7,169,492 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted debt to EBITDAR |
|
2.6 |
|
2.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Return on Invested Capital (ROIC) |
|
|
|
|
|
|
|
|
(in thousands, except ROIC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 4
Quarters |
|
|
|
|
|
|
|
|
|
February 15, 2020 |
|
February 9, 2019 |
|
|
|
|
Net income |
|
|
$ |
1,620,797 |
|
$ |
1,413,047 |
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
Pension termination charge before tax |
|
- |
|
130,263 |
|
|
|
|
|
Interest expense |
|
192,513 |
|
176,667 |
|
|
|
|
|
Rent expense(1) |
|
339,117 |
|
317,228 |
|
|
|
|
|
Tax effect(2) |
|
(110,048) |
|
(152,011) |
|
|
|
|
|
Deferred tax liabilities, net of repatriation tax |
|
- |
|
(1,774) |
|
|
|
|
Adjusted after-tax return |
|
$ |
2,042,379 |
|
$ |
1,883,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Average debt(3) |
|
$ |
5,241,651 |
|
$ |
5,054,281 |
|
|
|
|
Average stockholders' deficit(3) |
|
(1,676,987) |
|
(1,493,097) |
|
|
|
|
Add: Rent x 6(1) |
|
2,034,702 |
|
1,903,368 |
|
|
|
|
Average financing lease liabilities(3) |
|
178,416 |
|
156,840 |
|
|
|
|
Invested capital |
|
$ |
5,777,782 |
|
$ |
5,621,392 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted After-Tax ROIC |
|
35.3% |
|
33.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Effective September
1, 2019, the Company adopted ASC 842, the new lease accounting
standard that required the Company to recognize operating lease
assets and liabilities on the balance sheet. The table below
outlines the calculation of rent expense and reconciles rent
expense to total lease cost, per ASC 842, the most directly
comparable GAAP financial measure, for the twenty-four weeks ended
February 15, 2020. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total lease cost, per ASC 842, for the 24 weeks ended February 15,
2020 |
|
$ |
190,390 |
|
|
|
|
|
|
Less: |
Financing
lease interest and amortization |
|
|
|
(28,195) |
|
|
|
|
|
|
Less: |
Variable
operating lease components, related to insurance and common area
maintenance for the 24 weeks ended February 15, 2020 |
|
|
|
(11,444) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rent expense for the 24 weeks ended February 15, 2020 |
|
|
|
150,751 |
|
|
|
|
|
|
Add: |
Rent expense
for the 29 weeks ended August 31, 2019, as previously reported
prior to the adoption of ASC 842 |
|
|
|
188,366 |
|
|
|
|
|
|
Rent expense for the 53 weeks ended February 15, 2020 |
|
|
|
$ |
339,117 |
|
|
|
|
|
(2)Effective tax rate
over trailing four quarters ended February 15, 2020 is 20.7%.
Effective tax rate over the trailing four quarters ended February
9, 2019 is 28.1% for pension termination and 23.5% for interest and
rent expense. |
(3)All averages are
computed based on trailing 5 quarter balances. |
|
|
|
|
|
|
|
|
|
|
|
|
Other Selected Financial Information |
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
February 15, 2020 |
|
February 9, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases ($ since fiscal 1998) |
|
$ |
22,188,053 |
|
$ |
20,265,408 |
|
|
|
|
Remaining share repurchase authorization ($) |
|
961,947 |
|
634,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative share repurchases (shares since fiscal 1998) |
|
147,540 |
|
145,764 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding, end of quarter |
|
23,488 |
|
24,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
12 Weeks
Ended |
|
24 Weeks
Ended |
|
24 Weeks
Ended |
|
|
|
|
|
February 15, 2020 |
|
February 9, 2019 |
|
February 15, 2020 |
|
February 9, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
$ |
90,671 |
|
$ |
83,778 |
|
$ |
180,420 |
|
$ |
166,230 |
|
|
|
|
|
|
|
|
|
|
|
|
Capital spending |
|
89,156 |
|
97,664 |
|
190,563 |
|
195,832 |
|
|
|
|
|
|
|
|
|
AutoZone's 2nd
Quarter Highlights - Fiscal 2020 |
Selected Operating Highlights |
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidated Statements of
Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store Count & Square Footage |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
24 Weeks
Ended |
|
|
24 Weeks
Ended |
|
|
|
|
|
|
February 15, 2020 |
|
|
February 9, 2019 |
|
|
February 15, 2020 |
|
|
February 9, 2019 |
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Store count: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
5,790 |
|
|
|
|
5,631 |
|
|
|
|
5,772 |
|
|
|
|
5,618 |
|
|
|
Stores opened |
|
|
25 |
|
|
|
|
20 |
|
|
|
|
43 |
|
|
|
|
33 |
|
|
|
Ending domestic stores |
|
|
5,815 |
|
|
|
|
5,651 |
|
|
|
|
5,815 |
|
|
|
|
5,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Relocated stores |
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stores with commercial programs |
|
|
4,942 |
|
|
|
|
4,788 |
|
|
|
|
4,942 |
|
|
|
|
4,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
38,077 |
|
|
|
|
36,970 |
|
|
|
|
38,077 |
|
|
|
|
36,970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico stores: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
606 |
|
|
|
|
567 |
|
|
|
|
604 |
|
|
|
|
564 |
|
|
|
Stores opened |
|
|
2 |
|
|
|
|
1 |
|
|
|
|
4 |
|
|
|
|
4 |
|
|
|
Ending Mexico stores |
|
|
608 |
|
|
|
|
568 |
|
|
|
|
608 |
|
|
|
|
568 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil stores: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning stores |
|
|
37 |
|
|
|
|
20 |
|
|
|
|
35 |
|
|
|
|
20 |
|
|
|
Stores opened |
|
|
1 |
|
|
|
|
2 |
|
|
|
|
3 |
|
|
|
|
2 |
|
|
|
Ending Brazil stores |
|
|
38 |
|
|
|
|
22 |
|
|
|
|
38 |
|
|
|
|
22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total stores |
|
|
|
6,461 |
|
|
|
|
6,241 |
|
|
|
|
6,461 |
|
|
|
|
6,241 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Square footage (in thousands) |
|
|
42,885 |
|
|
|
|
41,335 |
|
|
|
|
42,885 |
|
|
|
|
41,335 |
|
|
|
Square footage per store |
|
|
6,638 |
|
|
|
|
6,623 |
|
|
|
|
6,638 |
|
|
|
|
6,623 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales Statistics |
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands, except sales per average square foot) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
Trailing 4
Quarters |
|
|
Trailing 4 Quarters |
|
Total AutoZone Stores (Domestic, Mexico and
Brazil) |
February 15, 2020 |
|
|
February 9, 2019 |
|
|
February 15, 2020 |
|
|
February 9, 2019 |
|
|
Sales per average store |
|
$ |
382 |
|
|
|
$ |
386 |
|
|
|
$ |
1,867 |
|
|
|
$ |
1,801 |
|
|
|
Sales per average square foot |
|
$ |
58 |
|
|
|
$ |
58 |
|
|
|
$ |
282 |
|
|
|
$ |
272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Auto Parts (Domestic, Mexico and
Brazil) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total auto parts sales |
|
$ |
2,464,988 |
|
|
|
$ |
2,402,833 |
|
|
|
$ |
11,857,188 |
|
|
|
$ |
11,106,071 |
(1) |
|
|
% Increase vs. LY |
|
|
2.6 |
% |
|
|
|
3.1 |
% |
(1) |
|
|
6.8 |
% |
|
|
|
3.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
Total domestic commercial sales |
|
$ |
556,924 |
|
|
|
$ |
514,598 |
|
|
|
$ |
2,679,732 |
|
|
|
$ |
2,328,527 |
|
|
|
% Increase vs. LY |
|
|
8.2 |
% |
|
|
|
12.9 |
% |
|
|
|
15.1 |
% |
|
|
|
9.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other (ALLDATA) |
|
|
|
|
|
|
|
|
|
|
|
|
|
All other sales |
|
$ |
48,675 |
|
|
|
$ |
47,735 |
|
|
|
$ |
220,953 |
|
|
|
$ |
205,151 |
(2) |
|
|
% Increase vs. LY |
|
|
2.0 |
% |
|
|
|
(41.4 |
%) |
(2) |
|
|
7.7 |
% |
|
|
|
(43.6 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Results include IMC,
which was sold during the third quarter of fiscal 2018 (effective
April 4, 2018). |
|
|
|
|
|
|
|
(2) |
Results include
AutoAnything, which was sold during the third quarter of fiscal
2018 (effective February 26, 2018). |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12 Weeks
Ended |
|
|
12 Weeks
Ended |
|
|
24 Weeks
Ended |
|
|
24 Weeks
Ended |
|
|
|
|
|
|
February 15, 2020 |
|
|
February 9, 2019 |
|
|
February 15, 2020 |
|
|
February 9, 2019 |
|
Domestic same store sales |
|
|
(0.8 |
%) |
|
|
|
2.6 |
% |
|
|
|
1.4 |
% |
|
|
|
2.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory Statistics (Total Stores) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as
of |
|
|
as
of |
|
|
|
|
|
|
|
|
|
|
|
|
February 15, 2020 |
|
|
February 9, 2019 |
|
|
|
|
|
|
|
|
Accounts payable/inventory |
|
|
105.7 |
% |
|
|
|
108.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory |
|
|
$ |
4,606,211 |
|
|
|
$ |
4,305,469 |
|
|
|
|
|
|
|
|
|
Inventory per store |
|
|
713 |
|
|
|
|
690 |
|
|
|
|
|
|
|
|
|
Net inventory (net of payables) |
|
|
(263,703 |
) |
|
|
|
(364,099 |
) |
|
|
|
|
|
|
|
|
Net inventory / per store |
|
|
(41 |
) |
|
|
|
(58 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing 5
Quarters |
|
|
|
|
|
|
|
|
|
|
|
February 15, 2020 |
|
|
February 9, 2019 |
|
|
|
|
|
|
|
|
Inventory turns |
|
|
1.3 |
x |
|
|
|
1.3 |
x |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AutoZone (NYSE:AZO)
Historical Stock Chart
From Mar 2024 to Apr 2024
AutoZone (NYSE:AZO)
Historical Stock Chart
From Apr 2023 to Apr 2024