AutoZone CEO says ‘we are well positioned for growth’

“I would like to thank all our AutoZone (AZO)rs across the globe for their efforts in helping us deliver solid first quarter results. We were pleased with the progress in our DIY same store sales result from the prior quarter as average ticket and traffic trends improved. Our domestic Commercial sales were up 3.2% and we were encouraged by the improving trends seen at the end of the quarter. Our international businesses continued to perform well with same store sales up just under 14% on a constant currency basis. While currency rate moves depressed reported sales and earnings growth, our international performance remains encouraging as we continue to focus on opening more stores in these markets. We feel we are well positioned for growth heading into the remainder of the fiscal year, as we believe the initiatives we have in place to improve customer service and grow market share are on track. As we continue to invest in our business, we remain committed to our disciplined approach of a focus on increasing earnings and operating cash flow, all while delivering strong shareholder value,” said Phil Daniele, President and Chief Executive Officer. During the quarter ended November 23, 2024, AutoZone opened 23 new stores in the U.S., six in Mexico and five in Brazil for a total of 34 new stores. As of November 23, 2024, the Company had 6,455 stores in the U.S., 800 in Mexico and 132 in Brazil for a total store count of 7,387.