AutoZone Studies New Shops, Wholesome Gross sales

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

This continued international enlargement provides the corporate 6,066 shops within the US, 666 areas in Mexico and 53 in Brazil, totaling 6,785 shops.

With costs for brand new and used automobiles nonetheless excessive, AutoZone’s first-quarter gross sales rose 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 robust gross sales and earnings this primary quarter are a continued testomony to our AutoZones dedication to going the additional mile for our prospects,” Invoice Rhodes, President, and CEO, mentioned within the AutoZone announcement.

Retail and industrial gross sales efficiency was “persistently robust all quarter,” Rhodes mentioned, with industrial enterprise development exceeding 29% “as a result of the investments we’re making are positioning us effectively out there.”

“We’re optimistic about our development prospects for the stability of the fiscal 12 months,” he mentioned.

AutoZone’s stock grew 3% within the first quarter of fiscal 2022 in comparison with the identical interval final 12 months, pushed by new shops.

“Throughout these distinctive and difficult occasions, we are going to attempt to supply the absolute best customer support,” Rhodes mentioned.

associated: Advance auto elements gross sales proceed to rise

Final month, rival automobile elements retailer Advance Auto Components reported that their fiscal 2021 third quarter web gross sales rose 3.1% to $2.6 billion, a 3.1% improve in comparable gross sales and a 13.3% improve from the identical time in 2019. elevated.

The corporate’s working revenue fell 10.8% to $229.2 million within the third quarter of fiscal 2021, although adjusted working revenue rose 6.9% to $273.8 million. This development was pushed by enhancements to the chain’s brick-and-mortar shops and its on-line presence.

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