Summary
AutoZone Inc. (AZO) reported strong performance for the fiscal year ending August 30, 2014, with record net income of $1.07 billion, a 5.2% increase year-over-year, and sales growth of 3.6% to $9.475 billion. The company benefited from a 2.8% increase in domestic same-store sales and expansion of its commercial business. Failure and maintenance-related product categories continued to be the strongest performers, accounting for approximately 84% of total sales. The company's strategy emphasizes superior customer service, a wide product selection, and competitive pricing, supported by its in-house brands like Duralast. AutoZone continued its store expansion, ending the year with 5,391 stores across the U.S., Mexico, and Brazil. Investments in its supply chain and hub store model are ongoing to improve product availability and delivery times. Despite facing risks such as economic downturns, competition, and rising costs, AutoZone remains focused on its core strengths and market positioning.
Financial Highlights
50 data points| Revenue | $9.48B |
| Cost of Revenue | $4.54B |
| Gross Profit | $4.93B |
| SG&A Expenses | $3.10B |
| Operating Income | $1.83B |
| Interest Expense | $170.40M |
| Net Income | $1.07B |
| EPS (Basic) | $32.16 |
| EPS (Diluted) | $31.57 |
| Shares Outstanding (Basic) | 33.27M |
| Shares Outstanding (Diluted) | 33.88M |
Key Highlights
- 1Record net income of $1.07 billion for fiscal year 2014.
- 2Total net sales increased by 3.6% to $9.475 billion.
- 3Domestic comparable store net sales increased by 2.8%.
- 4Continued store expansion, reaching 5,391 locations across the U.S., Mexico, and Brazil.
- 5Commercial sales program expansion and refinement.
- 6Focus on failure and maintenance categories, which represented 84% of sales.
- 7Significant share repurchase program continued, with $1.099 billion in repurchases during fiscal year 2014.