AutoZone Drives On New Store Openings Despite Expense Woes
Zacks Investment Research | Mar 12, 2018 09:50PM ET
On Mar 12, we issued an updated research report on AutoZone, Inc. (NYSE:AZO) .
The company utilizes its strong cash position to open new stores every year. During second-quarter fiscal 2018, the company opened 35 new stores and closed one in the United States. The company also opened three new stores in Mexico and two in Brazil. As of Feb 10, the company had 5,514 stores across 50 states in the United States, the District of Columbia and Puerto Rico; 532 in Mexico; 26 Interamerican Motor Corp. branches and 16 stores in Brazil.
In the fiscal second quarter (ended Feb 10, 2018), the company reported adjusted earnings per share of $4.23, missing the Zacks Consensus Estimate of $8.81. Revenues rose 5.4% year over year to $2.41 billion in the reported quarter. The figure also surpassed the Zacks Consensus Estimate of $2.39 billion.
The company is well placed to grow its sales further in fiscal 2018. In the first two quarters of fiscal 2018, revenues improved 5.2% year over year to $5 billion. During the same period, same-store sales results showed an improved performance.
The company outperformed the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.