AutoZone Reviews New Shops, Wholesome Gross sales

Auto elements retailer AutoZone on Tuesday (Dec. 7) mentioned it has opened 15 new shops within the U.S., two shops in Mexico and one retailer in Brazil within the first quarter of fiscal 2022, masking the three-month interval ending Nov. 20. 

That continued international enlargement provides the corporate 6,066 shops within the U.S., 666 areas throughout Mexico and 53 in Brazil, totaling 6,785. 

With new and used automobile costs nonetheless excessive, AutoZone’s Q1 gross sales have been booming, up 16.3% to $3.7 billion in comparison with the identical interval two years in the past. Home same-store gross sales have been up 13.6% for Q1. 

“Our sturdy gross sales and earnings this primary quarter are a unbroken testomony to our AutoZoners’ dedication to going the additional mile for our prospects,” mentioned Invoice Rhodes, chairman, president and CEO, within the AutoZone announcement. 

Retail and business gross sales efficiency “was persistently sturdy all quarter,” Rhodes added, with the business enterprise progress surpassing 29% “because the investments we’re making are positioning us effectively within the market.”  

“We’re optimistic about our progress prospects for the stability of the fiscal yr,” he mentioned. 

AutoZone’s stock elevated 3% within the first quarter of fiscal 2022 over the identical interval final yr, pushed by new shops. 

“Throughout these distinctive and difficult occasions, we’ll attempt to ship one of the best customer support doable,” Rhodes mentioned.  

Associated: Advance Auto Elements Gross sales Development Continues  

Final month, rival automobile elements retailer Advance Auto Elements  reported that internet gross sales for the third quarter of their fiscal 2021 have been up 3.1% to $2.6 billion, with comparable gross sales additionally elevated by 3.1% and up 13.3% for the reason that identical time in 2019.

The corporate’s working earnings dropped 10.8% within the third quarter of fiscal 2021 to $229.2 million, though the adjusted working earnings was up 6.9% to $273.8 million. That progress was spurred by enhancements within the chain’s brick-and-mortar shops and its on-line presence. 

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