-
Welcome to Auto Parts Forum
Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, Twitter, Google, and LinkedIn.
-
Similar Content
-
- 0 replies
- 1,086 views
-
-
Similar Topics
-
By AutoZone
MEMPHIS, Tenn. , June 08, 2022 (GLOBE NEWSWIRE) -- AutoZone (NYSE:AZO) recognized 16 of its top vendors last night at its 2022 Vendor Partner Summit. The awards honor companies who provided exceptional performance and demonstrated a strong commitment to customer satisfaction during the past year.
link hidden, please login to view -
By Counterman
During AutoZone’s fiscal second-quarter 2022 conference call in March, company executives asserted that its pandemic-driven sales momentum could be sustained, even after consumers blow through their stimulus payments.
AutoZone’s fiscal third-quarter results did nothing to convince them otherwise.
“We believed our competitive positioning was materially improved, as indicated by our significant retail share gains and rapidly accelerated commercial sales growth,” AutoZone CEO Bill Rhodes reflected during the company’s third-quarter conference call on May 24. “We believed customer behavior may have permanently changed. We continue to believe all of this today.”
AutoZone reported fiscal third-quarter net sales of $3.9 billion, a 5.9% year-over-year increase. The company’s fiscal third quarter ended on May 7.
Domestic same-store sales, or sales for stores open at least one year, increased 2.6% for the quarter. AutoZone delivered the 2.6% increase against some extremely tough comparisons: In the fiscal third quarter of 2021, same-store sales jumped nearly 29%.
If AutoZone indeed is able to sustain its momentum from 2020 and 2021, “it’ll be the fourth time in the last 30 years that the economy and society have been through significant shocks leading to material acceleration in our growth in sales and profits, without a corresponding decline back to pre-recessionary or pre-pandemic levels,” Rhodes said.
DIFM sales, which suffered in the first few months of the pandemic in 2020, continued to rebound. AutoZone’s commercial sales rocketed 26% higher to $1.04 billion, a third-quarter record for the company.
Weekly commercial sales per store also set a quarterly record, at $16,600, up from $13,500 in fiscal Q3 2021. The company averaged approximately $87 million in total weekly commercial sales.
During the quarter, AutoZone launched 43 net new commercial programs, finishing with 5,275 total programs.
“As I’ve said since the outset of the year, commercial growth will lead the way in FY 22, and our results in the third quarter and year to date reflect this dynamic,” CFO Jamere Jackson said during the conference call.
Rhodes attributed the DIFM growth to a number of companywide initiatives, including expanded hub and megahub coverage, “the strength of the Duralast brand,” technology investments, a more effective salesforce and improved delivery times.
Domestic DIY sales slipped 4.5% during the quarter – another case of tough comps. Rhodes noted that U.S. consumers received stimulus payments in the third quarter of 2021, which led to record DIY-sales growth.
“We’re very proud of our DIY results,” Rhodes added. “Considering we had such a tough comparison to last year, from the data we have available to us, we continued not only retain the enormous share gains in dollars and units built during the initial stages of the pandemic, but [also] modestly build on those gains.
“Our performance, considering the amount of time from the last stimulus and the ending of the enhanced unemployment benefits, has substantially exceeded our expectations and gives us continued conviction about the sustainability of the massive elevated sales levels we have experienced since the beginning of the pandemic.”
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
By AutoZone
MEMPHIS, Tenn. , May 24, 2022 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $3.9 billion for its third quarter (12 weeks) ended May 7, 2022 , an increase of 5.9% from the third quarter of fiscal 2021 (12 weeks). Domestic same store sales, or sales for stores open at
link hidden, please login to view -
By AutoZone
MEMPHIS, Tenn. , May 05, 2022 (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 third quarter ended Saturday, May 7, 2022 , before market open on Tuesday, May 24, 2022 .
link hidden, please login to view
-
By Counterman
A recent collaboration between NGK and AutoZone was awarded the 2022 Automotive Aftermarket Suppliers Association (AASA) Channel Excellence Award presented by Epicor.
The teams shared market research and applied point-of-sale (POS) data and other information to develop an oxygen-sensor program that grows market share, reduces inventory requirements and lays the foundation for future shifts in market demand.
Brian Norko, SVP, commercial business operations, NGK and Rob Bell, director, merchandising & customer satisfaction, AutoZone, accepted the award on behalf of their respective companies at the 2022 AASA Vision Conference in Dearborn, Michigan.
The annual AASA Channel Excellence Award presented by Epicor recognizes innovation and collaboration between suppliers and channel partners that drive aftermarket growth.
“This award is particularly special to NGK as it reflects our core business philosophy of creating mutual success,” Norko said. “Our company was founded on this principle and working together with our customers, delivering quality products and growing our businesses together – this continues to drive us. We are very proud to have been part of growing AutoZone’s O2-sensor business.”
Bell added: “We are extremely excited to achieve this Channel Excellence Award with NGK and sincerely thank AASA and Epicor for this tremendous honor. This great recognition would not have been possible without the collective effort of NGK and our amazing AutoZoners across the entire organization. Our phenomenal results show the power of data and the importance of customer feedback when leveraged in a collaborative environment.”
NGK and AutoZone identified a sustained increase in demand DIFM customers for OE oxygen-sensor technologies. The companies then utilized POS and other data to build OEM-based O2-sensor families by vehicle application to address this trend. The new approach resulted in a 100% sales increase of NGK’s NTK-brand 02 sensors through AutoZone while eliminating more than 290,000 stocking placements across the AutoZone network. In addition, AutoZone achieved a more than 700-bps shift in DIFM market share in the wideband O2-sensor category.
The winning project is featured in a
link hidden, please login to view on the AASA website. The NGK/AutoZone project was one of three joint initiatives by automotive aftermarket companies selected as award finalists. The other finalists were Bosch/NAPA and Dorman with multiple channel partners. Short videos submitted by each of the AASA Channel Excellence award finalist teams were played at the 2022 AASA Vision Conference and are also posted on the
link hidden, please login to view. “This award recognizes the achievements in collaboration and innovation between suppliers and their channel partners to drive growth together,” said Paul McCarthy, AASA president and CEO. “We give this award to encourage an openness to the behaviors we all know we need to see – innovation and collaboration across the value chain. We congratulate NGK and AutoZone for embodying these behaviors and finding a way, together, to greater success in a challenging climate.”
“These projects demonstrate the value of collaboration in solving the challenges of a highly complex value chain,” said Tim Hardin, senior vice president and general manager, Automotive, Epicor. “Ultimately, each success builds toward a future where data-driven collaboration isn’t just project based, but a daily part of doing business and optimizing our industry’s contributions to the global economy.”
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view
-
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.