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Don’t Let Shiny AutoZone, Inc. Stock Fool You After Positive Earnings
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By AutoZone
MEMPHIS, Tenn. , Sept. 19, 2023 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $5.7 billion for its fourth quarter (16 weeks) ended August 26, 2023 , an increase of 6.4% from the fourth quarter of fiscal 2022 (16 weeks). Same store sales, or sales for our domestic and
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By AutoZone
MEMPHIS, Tenn., Sept. 18, 2023 (GLOBE NEWSWIRE) -- AutoZone (NYSE: AZO), following its Leadership Transition Plan announced on June 26, 2023, today announced additional senior leadership changes. Tom Newbern, a 38-year AutoZoner, currently Executive Vice President, Operations, Sales and Technology, has been promoted to Chief Operating Officer (COO). Additionally, Jamere Jackson, current Chief Financial Officer and Executive Vice President, Finance and Store Development, has been promoted as Chief Financial Officer (CFO) where he will continue to lead the Finance and Store Development teams. Phil Daniele, our Chief Executive Officer-Elect (CEO-Elect), is positioning Tom and Jamere as equivalents and the senior most leaders of his leadership team.
Additionally, Bill Hackney, a 38-year AutoZoner, currently Senior Vice President, Merchandising, has been promoted to Executive Vice President, Merchandising, Marketing and Supply Chain replacing Phil Daniele who previously held the role.
“I’m very excited about these strategic moves which position us well for continued growth. Jamere and Tom are exceptional leaders and having them at my side will be an enormous benefit. Also, Bill Hackney’s promotion to Executive Vice President reflects the deep strength of our leadership team. All are proven leaders and poised to serve our customers and lead our company for many years to come,” said Phil Daniele, Chief Executive Officer-Elect.
Finally, three of AutoZone’s other Executive Committee members will be retiring around the end of the calendar year consistent with AutoZone’s long-standing Succession Plan. “I want to thank and congratulate Grant McGee, Senior Vice President, Commercial, Charlie Pleas, Senior Vice President, Finance and Accounting, and Al Saltiel, Senior Vice President, Marketing and E-Commerce on their stellar AutoZone careers and thank them for their exceptional service and leadership,” said Bill Rhodes, Chairman, President and CEO.
The company has active searches under way for Grant and Al’s replacements which will include internal and external candidates and Charlie’s role will be restructured.
About AutoZone:
As of May 6, 2023, the Company had 6,248 stores in the U.S., 713 in Mexico and 83 in Brazil for a total store count of 7,044.
AutoZone is the leading retailer and distributor of automotive replacement parts and accessories in the Americas. Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. We also have commercial programs in the majority of our stores in Mexico and Brazil. AutoZone also sells the ALLDATA brand automotive diagnostic, repair and shop management software through
link hidden, please login to view. Additionally, we sell automotive hard parts, maintenance items, accessories and non-automotive products through link hidden, please login to view, and our commercial customers can make purchases through link hidden, please login to view. We also provide product information on our Duralast branded products through link hidden, please login to view. AutoZone does not derive revenue from automotive repair or installation services. Contact Information:
Financial: Brian Campbell at (901) 495-7005,
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Media: David McKinney at (901) 495-7951, link hidden, please login to view
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By AutoZone
MEMPHIS, Tenn. , Aug. 25, 2023 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO), the leading retailer and distributor of automotive replacement parts and accessories in the Americas , will release results for its fourth quarter ended Saturday, August 26, 2023 , before market open on Tuesday,
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By truckexpert
Our revolutionary search software application is created to provide you the most accurate repair shops information within seconds along with the shortest route possible. When your commercial truck/trailer/rv stops running, or you need assistance with reefer dealers/repair shops or you need emergency towing service or you are looking for a tire shop, you name it and we provide you with all the information on service providers related to BREAKDOWN. Our customer service team is available 24/7/365 for any help in using our software application or help in finding truck/trailer/rv repair/breakdown service providers. Our network is multiplying every minute so we can provide you the breakdown service providers in every city, state, and region of North America.
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By Counterman
Genuine Parts Co. (GPC) reported second-quarter sales of $5.9 billion, up 5.6% compared to second-quarter 2022.
GPC reported a 4.9% increase in comparable sales. A 1.8% benefit from acquisitions contributed to the quarterly results, the company noted.
Net income jumped 10% to $344 million. On a per-share diluted basis, net income was $2.44, an increase of nearly 11% compared to adjusted diluted earnings per share of $2.20 last year.
“We are pleased to report another solid quarter, which includes record sales and double-digit adjusted earnings growth,” said Paul Donahue, chairman and CEO. “Our second-quarter performance, once again, highlights the value and benefit of our global Automotive and Industrial business mix and geographic diversity, which we believe are competitive advantages that differentiate GPC in the marketplace.”
Sales for the Automotive Parts Group, which includes NAPA Auto Parts, increased 5.4% to $3.7 billion. The results include a 4.3% increase in comparable sales and a 2.6% benefit from acquisitions, according to the company.
“Global Automotive sales continue to benefit from our global diversification, as our businesses outside the U.S. posted mid-single-digit to double-digit growth in local currency in the second quarter,” said Will Stengel, president and chief operating officer.
“Our Industrial sales growth was broad based, with all product categories and major industries served growing from the prior year, allowing the Industrial team to post its 12th consecutive quarter of margin expansion. The global GPC team delivered a solid second quarter and our teams remain focused on the consistent execution of our strategic initiatives. We believe our investments in our people, customer solutions, technology, supply chain and emerging technology will continue to enhance our capabilities and leadership positions.”
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