Mixed bag for AutoZone in fiscal Q1

By: Miguel A. Rodriguez

15:27, 09 December 2020

1607520391.jpg
Despite store-openings, AutoZone missed sales estimates

The largest American retailer of aftermarket automotive parts and accessories – AutoZone – published its Q1 2021 earnings report.

In the past quarter, AutoZone had a diluted EPS of $18.61 per share, topping last year’s $14.3., while also coming in higher than the $17.72 estimated. The revenues missed the $3.16 billion mark coming in at $3.15 billion. AutoZone reported a 12.9% year-over-year increase in net, hitting to $3.15 million.

Here’s what the company’s CEO Bill Rhodes had to say: “While our sales have certainly been aided by the COVID-19 pandemic related government stimulus and consumer behavior changes, we have continued to execute on our strategies to improve inventory availability including expanding our Hub and Mega-Hub networks. We are also leveraging technology to improve our service capabilities and efficiency and further penetrating the Commercial market.”

Despite the pandemic, AutoZone opened 39 new stores in the US and 2 in Brazil, ending the quarter with 6,590 stores across the countries mentioned above and Mexico. Overall, the company’s inventory improved by 3.7% compared to the same time last year.

Following the report, AutoZone stock price traded 5.3% lower.

Sources: tipranks.com, finance.yahoo.com

Share this article

This information prepared by capex.com/za is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation, or the particular needs of any recipient.You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation, or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.This information may not be published, circulated, reproduced, or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of capex.com/zaJME Financial Services (Pty) Ltd trading as CAPEX.COM/ZA acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via CAPEX.COM/ZA, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15.  Magnasale Trading Ltd is the principal to the CFD purchased by investors.