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. reports developments as a retailer and distributor of automotive replacement parts and accessories in the Americas. Company updates center on domestic and international same-store sales, new store openings, gross margin and LIFO effects, commercial sales programs, and capital allocation through common stock repurchases.
AutoZone stores carry automotive hard parts, maintenance items, accessories and non-automotive products for cars, sport utility vehicles, vans and light duty trucks. News also covers its online sales channels, the ALLDATA diagnostic, repair, collision and shop management software brand, Duralast product information, annual stockholder meeting matters, and technology infrastructure initiatives such as its Google Cloud migration.
AutoZone (NYSE: AZO) announced plans to hire over 20,000 employees across its more than 5,800 stores in the U.S. to support increasing customer demand. Positions available include Delivery Drivers, Parts Sales Managers, and Sales Associates, with job applications submitted online. The company emphasizes its commitment to ongoing employee training and diversity in hiring, including a focus on veterans, high school graduates, and retirees. As of May 2020, AutoZone operated 6,484 stores in the U.S., Mexico, and Brazil.
AutoZone (NYSE: AZO) celebrated its top suppliers at the AutoZone Vendor Summit on July 21, 2020. The company awarded 15 suppliers for their collaboration and innovation. Seven vendors received the WITTDTJR® awards for customer satisfaction, including Autolite and Valvoline. Additionally, the Extra Miler award was given to seven vendors, such as Exxon Mobil and Meguiar’s. Dorman Products was named Vendor of the Year for their support and commitment. AutoZone currently operates 6,484 stores across the U.S., Mexico, and Brazil, establishing itself as a key player in the automotive replacement parts industry.
AutoZone reported net sales of $2.8 billion for Q3 2020, a 0.1% decrease from Q3 2019, attributing fluctuations to COVID-19. Domestic same-store sales fell by 1.0%, with significant volatility observed. Gross profit remained flat at 53.6%, while operating expenses rose to 35.9% due to pandemic-related costs. Net income decreased by 15.5% to $342.9 million, with EPS dropping to $14.39. AutoZone repurchased 156,000 shares for $166.1 million and has $796 million remaining under its repurchase authorization. The company opened 21 new stores in the U.S. and focuses on strategic initiatives amid fluctuating sales trends.
Summary not available.