AutoZone NYSE: AZO 2-gi w USA sprzedawca części samochodowych

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Autozone Tops Q1 Estimates, Same-Store Sales Increase 2.6%

Investing.com -- Shares of automotive parts and accessories retailer AutoZone Inc (NYSE:AZO) initially rose in early Tuesday trading after the company reported fiscal third-quarter earnings, topping analyst estimates.

The company posted earnings per share of $29.03 on revenue of $3.87 billion, beating forecasts of $26.07 per share on sales of $3.71 billion.

In addition, domestic same-store sales increased 2.6% for the quarter.

Gross profit, as a percentage of sales, was 51.91%, decreasing 54 basis points versus the previous year, with the company putting it down to accelerated growth in its lower margin commercial business. Autozone added that its inventory increased 13.9% during the quarter, primarily driven by inflation.

“We are very proud to report solid same store sales growth on top of last year’s remarkable 28.9%," said Bill Rhodes, Chairman, President, and Chief Executive Officer.

"Both our retail and commercial sales performance exceeded our expectations this quarter. While our commercial sales growth accelerated to 26.0%, our retail sales also remained healthy considering the tough comparison from a year ago,” Rhodes added.

Autozone stock surged in the early part of Tuesday's session. However, it has since given up most of those gains and is now up just 0.4%.

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AutoZone Inc (NYSE:AZO) shares fell 6.3% after the retailer of auto parts missed revenue and same-store sales expectations for the recent quarter as inventory rose

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(Reuters) - AutoZone Inc (NYSE:AZO) CEO Bill Rhodes will step down in January next year after leading the company for more than 18 years, the U.S. car parts retailer said on Monday.

Another company veteran, Philip Daniele, currently vice president of merchandising, marketing and supply chain teams, will succeed Rhodes.

Rhodes will transition to the role of executive chairman.

During his tenure, the company roughly doubled the number of stores and increased revenue by more than three times, AutoZone said, adding the stock price increased by more than 25 times.

Daniele, 54, will take charge when U.S. auto suppliers face higher costs due to elevated material costs and supply chain woes.

In May, AutoZone missed expectations for third-quarter net sales as increased prices of parts led to a rise in inventories.

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Auto parts and accessories retailer AutoZone (NYSE:AZO) reported Q4 FY2023 results topping analysts' expectations, with revenue up 6.4% year on year to $5.69 billion. The company didn’t provide any forward revenue guidance. Turning to EPS, AutoZone made a GAAP profit of $46.46 per share, improving from its profit of $40.52 per share in the same quarter last year.