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AutoZone 2nd Quarter Same Store Sales Increase 5.3%; EPS Increases to $24.64

AutoZone, Inc.
AutoZone, Inc.

MEMPHIS, Tenn., Feb. 28, 2023 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $3.7 billion for its second quarter (12 weeks) ended February 11, 2023, an increase of 9.5% from the second quarter of fiscal 2022 (12 weeks). Domestic same store sales, or sales for stores open at least one year, increased 5.3% for the quarter.

“We are proud to report solid same store sales growth on top of last year’s 13.8%. We could not have achieved these results without phenomenal contributions from across the organization. Once again, our AutoZoners’ efforts generated double digit domestic Commercial growth and single digit domestic Retail sales growth. We continue to believe the initiatives we have in place position us well for the remainder of our fiscal year,” said Bill Rhodes, Chairman, President and Chief Executive Officer.

For the quarter, gross profit, as a percentage of sales, was 52.3%, a decrease of 69 basis points versus the prior year. The decrease in gross margin was impacted by a 27 basis point ($10 million) non-cash LIFO charge driven primarily by freight costs. The remaining deleverage was driven by supply chain costs and accelerated growth in our Commercial business. Operating expenses, as a percentage of sales, were 34.1% versus last year at 34.4%.

Operating profit increased 6.9% to $670.0 million. Net income for the quarter increased 1.0% over the same period last year to $476.5 million, while diluted earnings per share increased 10.5% to $24.64 from $22.30 in the year-ago quarter.

Under its share repurchase program, AutoZone repurchased 372 thousand shares of its common stock for $906.0 million during the second quarter, at an average price of $2,434 per share. At the end of the second quarter, the Company had $1.8 billion remaining under its current share repurchase authorization.

The Company’s inventory increased 13.9% over the same period last year, driven by inflation and its growth initiatives. Net inventory, defined as merchandise inventories less accounts payable, on a per store basis, was negative $227 thousand versus negative $198 thousand last year and negative $249 thousand last quarter.

“We remain committed to providing the best place for our customers to shop while being an exceptional place for our AutoZoners to build their careers. For the remainder of fiscal 2023, we will be laser focused on relentless execution, and we will continue to focus our capital on projects that meet or exceed our return on capital targets. We will take nothing for granted as we will continue to focus on our long-term approach of increasing operating earnings and free cash flows while using our balance sheet effectively,” said Rhodes.

During the quarter ended February 11, 2023, AutoZone opened 30 new stores in the U.S., one in Mexico and five in Brazil. As of February 11, 2023, the Company had 6,226 stores in the U.S., 707 in Mexico and 81 in Brazil for a total store count of 7,014.
        
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 www.alldata.com. Additionally, we sell automotive hard parts, maintenance items, accessories and non-automotive products through www.autozone.com, and our commercial customers can make purchases through www.autozonepro.com. We also provide product information on our Duralast branded products through www.duralastparts.com. AutoZone does not derive revenue from automotive repair or installation services.

AutoZone will host a conference call this morning, Tuesday, February 28, 2023, beginning at 10:00 a.m. (ET) to discuss its second quarter results. This call is being web cast and can be accessed, along with supporting slides, at AutoZone’s website at www.autozone.com and clicking on Investor Relations. Investors may also listen to the call by dialing (888) 506-0062, passcode AUTOZONE. In addition, a telephone replay will be available by dialing (877) 481-4010, replay passcode 47607 through March 14, 2023.

This release includes certain financial information not derived in accordance with generally accepted accounting principles (“GAAP”). These non-GAAP measures include adjustments to reflect return on invested capital, adjusted debt and adjusted debt to EBITDAR. The Company believes that the presentation of these non-GAAP measures provides information that is useful to investors as it indicates more clearly the Company’s comparative year-to-year operating results, but this information should not be considered a substitute for any measures derived in accordance with GAAP. Management targets the Company’s capital structure in order to maintain its investment grade credit ratings. The Company believes this is important information for the management of its debt levels and share repurchases. We have included a reconciliation of this additional information to the most comparable GAAP measures in the accompanying reconciliation tables.

Certain statements contained herein constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically use words such as “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy,” “seek,” “may,” “could” and similar expressions. These are based on assumptions and assessments made by our management in light of experience and perception of historical trends, current conditions, expected future developments and other factors that we believe to be appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation: product demand, due to changes in fuel prices, miles driven or otherwise; energy prices; weather; competition; credit market conditions; cash flows; access to available and feasible financing; future stock repurchases; the impact of recessionary conditions; consumer debt levels; changes in laws or regulations; risks associated with self-insurance; war and the prospect of war, including terrorist activity; the impact of public health issues, such as the ongoing global coronavirus (“COVID-19”) pandemic; inflation; the ability to hire, train and retain qualified employees; construction delays; failure or interruption of our information technology systems; issues relating to the confidentiality, integrity or availability of information, including due to cyber-attacks; historic growth rate sustainability; downgrade of our credit ratings; damage to our reputation; challenges in international markets; origin and raw material costs of suppliers; inventory availability; disruption in our supply chain; impact of tariffs; impact of new accounting standards; and business interruptions. Certain of these risks and uncertainties are discussed in more detail in the “Risk Factors” section contained in Item 1A under Part 1 of the Company’s Annual Report on Form 10-K for the year ended August 27, 2022, and these Risk Factors should be read carefully. Forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ from those contemplated by such forward-looking statements. Events described above and in the “Risk Factors” could materially and adversely affect our business. However, it should be understood that it is not possible to identify or predict all such risks and other factors that could affect these forward-looking statements. Forward-looking statements speak only as of the date made. Except as required by applicable law, we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information:
Financial: Brian Campbell at (901) 495-7005, brian.campbell@autozone.com
Media: David McKinney at (901) 495-7951, david.mckinney@autozone.com


AutoZone's 2nd Quarter Highlights - Fiscal 2023

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statements of Operations

 

 

 

 

 

2nd Quarter, FY2023

 

 

 

 

 

 

 

(in thousands, except per share data)

 

 

 

 

 

 

 

 

 

GAAP Results

 

 

 

 

 

12 Weeks Ended

 

12 Weeks Ended

 

 

 

 

 

February 11, 2023

 

February 12, 2022

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

3,690,982

 

 

$

3,369,750

 

 

 

 

Cost of sales

 

 

1,760,979

 

 

 

1,584,524

 

 

 

 

Gross profit

 

 

1,930,003

 

 

 

1,785,226

 

 

 

 

Operating, SG&A expenses

 

 

1,260,026

 

 

 

1,158,466

 

 

 

 

Operating profit (EBIT)

 

 

669,977

 

 

 

626,760

 

 

 

 

Interest expense, net

 

 

65,609

 

 

 

42,471

 

 

 

 

Income before taxes

 

 

604,368

 

 

 

584,289

 

 

 

 

Income tax expense

 

 

127,824

 

 

 

112,534

 

 

 

 

Net income

 

$

476,544

 

 

$

471,755

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

Basic

 

$

25.48

 

 

$

23.00

 

 

 

 

Diluted

 

$

24.64

 

 

$

22.30

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

Basic

 

 

18,705

 

 

 

20,513

 

 

 

 

Diluted

 

 

19,337

 

 

 

21,158

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year-To-Date 2nd Quarter, FY2023

 

 

 

 

 

 

 

(in thousands, except per share data)

 

 

 

 

 

 

 

 

 

GAAP Results

 

 

 

 

 

24 Weeks Ended

 

24 Weeks Ended

 

 

 

 

 

February 11, 2023

 

February 12, 2022

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

7,676,049

 

 

$

7,038,653

 

 

 

 

Cost of sales

 

 

3,751,424

 

 

 

3,328,267

 

 

 

 

Gross profit

 

 

3,924,625

 

 

 

3,710,386

 

 

 

 

Operating, SG&A expenses

 

 

2,531,615

 

 

 

2,329,141

 

 

 

 

Operating profit (EBIT)

 

 

1,393,010

 

 

 

1,381,245

 

 

 

 

Interest expense, net

 

 

123,332

 

 

 

85,755

 

 

 

 

Income before taxes

 

 

1,269,678

 

 

 

1,295,490

 

 

 

 

Income taxes

 

 

253,816

 

 

 

268,500

 

 

 

 

Net income

 

$

1,015,862

 

 

$

1,026,990

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

Basic

 

$

53.87

 

 

$

49.49

 

 

 

 

Diluted

 

$

52.12

 

 

$

48.03

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

Basic

 

 

18,856

 

 

 

20,750

 

 

 

 

Diluted

 

 

19,491

 

 

 

21,383

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selected Balance Sheet Information

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

February 11, 2023

 

February 12, 2022

 

August 27, 2022

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

301,286

 

 

$

239,423

 

 

$

264,380

 

 

Merchandise inventories

 

 

5,731,255

 

 

 

5,031,222

 

 

 

5,638,004

 

 

Current assets

 

 

6,794,805

 

 

 

5,903,770

 

 

 

6,627,984

 

 

Property and equipment, net

 

 

5,236,129

 

 

 

4,879,079

 

 

 

5,170,419

 

 

Operating lease right-of-use assets

 

 

2,943,844

 

 

 

2,743,771

 

 

 

2,918,817

 

 

Total assets

 

 

15,545,142

 

 

 

14,078,473

 

 

 

15,275,043

 

 

Accounts payable

 

 

7,321,551

 

 

 

6,378,606

 

 

 

7,301,347

 

 

Current liabilities

 

 

8,614,618

 

 

 

7,684,645

 

 

 

8,588,393

 

 

Operating lease liabilities, less current portion

 

 

2,854,227

 

 

 

2,641,555

 

 

 

2,837,973

 

 

Total debt

 

 

7,042,302

 

 

 

5,840,884

 

 

 

6,122,092

 

 

Stockholders' deficit

 

 

(4,184,170

)

 

 

(3,137,477

)

 

 

(3,538,913

)

 

Working capital

 

 

(1,819,813

)

 

 

(1,780,875

)

 

 

(1,960,409

)

 

 

 

 

 

 

 

 

 



AutoZone's 2nd Quarter Highlights - Fiscal 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statements of Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Debt / EBITDAR

 

 

 

 

 

 

 

 

 

 

 

(in thousands, except adjusted debt to EBITDAR ratio)

 

Trailing 4 Quarters

 

 

 

 

 

 

 

 

 

February 11, 2023

 

February 12, 2022

 

 

 

 

 

 

 

Net income

 

$

2,418,476

 

 

$

2,408,925

 

 

 

 

 

 

 

 

Add: Interest expense

 

 

229,215

 

 

 

188,901

 

 

 

 

 

 

 

 

Income tax expense

 

 

634,803

 

 

 

630,954

 

 

 

 

 

 

 

 

EBIT

 

 

3,282,494

 

 

 

3,228,780

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add: Depreciation and amortization

 

 

465,905

 

 

 

422,938

 

 

 

 

 

 

 

 

Rent expense(1)

 

 

394,298

 

 

 

354,410

 

 

 

 

 

 

 

 

Share-based expense

 

 

82,253

 

 

 

62,672

 

 

 

 

 

 

 

 

EBITDAR

 

$

4,224,950

 

 

$

4,068,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt

 

$

7,042,302

 

 

$

5,840,884

 

 

 

 

 

 

 

 

Financing lease liabilities

 

 

290,858

 

 

 

272,719

 

 

 

 

 

 

 

 

Add: Rent x 6(1)

 

 

2,365,788

 

 

 

2,126,460

 

 

 

 

 

 

 

 

Adjusted debt

 

$

9,698,948

 

 

$

8,240,063

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted debt to EBITDAR

 

 

2.3

 

 

 

2.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Return on Invested Capital (ROIC)

 

 

 

 

 

 

 

 

 

 

 

(in thousands, except ROIC)

 

 

 

 

 

 

 

 

 

 

 

 

 

Trailing 4 Quarters

 

 

 

 

 

 

 

 

 

February 11, 2023

 

February 12, 2022

 

 

 

 

 

 

 

Net income

 

$

2,418,476

 

 

$

2,408,925

 

 

 

 

 

 

 

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

229,215

 

 

 

188,901

 

 

 

 

 

 

 

 

Rent expense(1)

 

 

394,298

 

 

 

354,410

 

 

 

 

 

 

 

 

Tax effect(2)

 

 

(129,691

)

 

 

(113,008

)

 

 

 

 

 

 

 

Adjusted after-tax return

 

$

2,912,298

 

 

$

2,839,228

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average debt(3)

 

$

6,278,213

 

 

$

5,433,252

 

 

 

 

 

 

 

 

Average stockholders' deficit(3)

 

 

(3,617,143

)

 

 

(2,069,346

)

 

 

 

 

 

 

 

Add: Rent x 6(1)

 

 

2,365,788

 

 

 

2,126,460

 

 

 

 

 

 

 

 

Average financing lease liabilities(3)

 

 

294,337

 

 

 

255,497

 

 

 

 

 

 

 

 

Invested capital

 

$

5,321,195

 

 

$

5,745,863

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted After-Tax ROIC

 

 

54.7

%

 

 

49.4

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) The table below outlines the calculation of rent expense and reconciles rent expense to total lease cost, per ASC 842, the most directly comparable GAAP financial measure, for the trailing four quarters ended February 11, 2023 and February 12, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trailing 4 Quarters

 

 

 

 

 

 

 

(in thousands)

 

February 11, 2023

 

February 12, 2022

 

 

 

 

 

 

 

Total lease cost, per ASC 842, for the trailing four quarters

 

$

498,970

 

 

$

442,950

 

 

 

 

 

 

 

 

Less: Financing lease interest and amortization

 

 

(77,302

)

 

 

(62,607

)

 

 

 

 

 

 

 

Less: Variable operating lease components, related to insurance and common area maintenance

 

 

(27,370

)

 

 

(25,933

)

 

 

 

 

 

 

 

Rent expense for the trailing four quarters

 

$

394,298

 

 

$

354,410

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2) Effective tax rate over trailing four quarters ended February 11, 2023 and February 12, 2022 was 20.8%

 

 

 

 

 

 

 

(3)All averages are computed based on trailing five quarter balances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Selected Financial Information

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

February 11, 2023

 

February 12, 2022

 

 

 

 

 

 

 

Cumulative share repurchases ($ since fiscal 1998)

 

$

31,898,212

 

 

$

28,192,426

 

 

 

 

 

 

 

 

Remaining share repurchase authorization ($)

 

 

1,751,788

 

 

 

957,574

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative share repurchases (shares since fiscal 1998)

 

 

153,273

 

 

 

151,586

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares outstanding, end of quarter

 

 

18,467

 

 

 

19,967

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12 Weeks Ended

 

12 Weeks Ended

 

 

 

24 Weeks Ended

 

24 Weeks Ended

 

 

 

February 11, 2023

 

February 12, 2022

 

 

 

February 11, 2023

 

February 12, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

$

113,711

 

 

$

99,692

 

 

 

 

$

222,964

 

$

199,282

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow from operations

 

 

354,474

 

 

 

361,816

 

 

 

 

 

1,148,061

 

 

1,139,746

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital spending

 

 

144,837

 

 

 

105,874

 

 

 

 

 

259,234

 

 

208,143

 

 

 

 

 

 

 

 

 

 

 

 

 



AutoZone's 2nd Quarter Highlights - Fiscal 2023

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statements of Operations

 

 

 

 

 

 

 

 

 

 

Selected Operating Highlights

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Store Count & Square Footage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12 Weeks Ended

 

 

12 Weeks Ended

 

 

24 Weeks Ended

 

 

24 Weeks Ended

 

 

 

February 11, 2023

 

 

February 12, 2022

 

 

February 11, 2023

 

 

February 12, 2022

 

Domestic:

 

 

 

 

 

 

 

 

 

 

 

 

Beginning stores

 

 

6,196

 

 

 

 

6,066

 

 

 

 

6,168

 

 

 

 

6,051

 

 

Stores opened

 

 

30

 

 

 

 

26

 

 

 

 

58

 

 

 

 

41

 

 

Stores closed

 

 

-

 

 

 

 

(1

)

 

 

 

-

 

 

 

 

(1

)

 

Ending domestic stores

 

 

6,226

 

 

 

 

6,091

 

 

 

 

6,226

 

 

 

 

6,091

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Relocated stores

 

 

1

 

 

 

 

1

 

 

 

 

4

 

 

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stores with commercial programs

 

 

5,500

 

 

 

 

5,233

 

 

 

 

5,500

 

 

 

 

5,233

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Square footage (in thousands)

 

 

41,103

 

 

 

 

40,037

 

 

 

 

41,103

 

 

 

 

40,037

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mexico:

 

 

 

 

 

 

 

 

 

 

 

 

Beginning stores

 

 

706

 

 

 

 

666

 

 

 

 

703

 

 

 

 

664

 

 

Stores opened

 

 

1

 

 

 

 

3

 

 

 

 

4

 

 

 

 

5

 

 

Ending Mexico stores

 

 

707

 

 

 

 

669

 

 

 

 

707

 

 

 

 

669

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brazil:

 

 

 

 

 

 

 

 

 

 

 

 

Beginning stores

 

 

76

 

 

 

 

53

 

 

 

 

72

 

 

 

 

52

 

 

Stores opened

 

 

5

 

 

 

 

2

 

 

 

 

9

 

 

 

 

3

 

 

Ending Brazil stores

 

 

81

 

 

 

 

55

 

 

 

 

81

 

 

 

 

55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

7,014

 

 

 

 

6,815

 

 

 

 

7,014

 

 

 

 

6,815

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Square footage (in thousands)

 

 

46,982

 

 

 

 

45,433

 

 

 

 

46,982

 

 

 

 

45,433

 

 

Square footage per store

 

 

6,698

 

 

 

 

6,667

 

 

 

 

6,698

 

 

 

 

6,667

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales Statistics

 

 

 

 

 

 

 

 

 

 

 

 

($ in thousands, except sales per average square foot)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12 Weeks Ended

 

 

12 Weeks Ended

 

 

Trailing 4 Quarters

 

 

Trailing 4 Quarters

 

Total AutoZone Stores (Domestic, Mexico and Brazil)

February 11, 2023

 

 

February 12, 2022

 

 

February 11, 2023

 

 

February 12, 2022

 

Sales per average store

 

$

518

 

 

 

$

486

 

 

 

$

2,399

 

 

 

$

2,282

 

 

Sales per average square foot

 

$

77

 

 

 

$

73

 

 

 

$

359

 

 

 

$

343

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Auto Parts (Domestic, Mexico and Brazil)

 

 

 

 

 

 

 

 

 

 

 

 

Total auto parts sales

 

$

3,623,110

 

 

 

$

3,306,223

 

 

 

$

16,590,483

 

 

 

$

15,332,148

 

 

% Increase vs. LY

 

 

9.6%

 

 

 

 

15.6%

 

 

 

 

8.2%

 

 

 

 

16.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic Commercial

 

 

 

 

 

 

 

 

 

 

 

 

Total domestic commercial sales

 

$

954,584

 

 

 

$

843,889

 

 

 

$

4,475,546

 

 

 

$

3,755,003

 

 

% Increase vs. LY

 

 

13.1%

 

 

 

 

32.1%

 

 

 

 

19.2%

 

 

 

 

30.2%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average sales per program per week

 

$

14.5

 

 

 

$

13.5

 

 

 

$

16.0

 

 

 

$

14.0

 

 

% Increase vs. LY

 

 

7.4%

 

 

 

 

28.6%

 

 

 

 

14.3%

 

 

 

 

26.1%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All Other, including ALLDATA

 

 

 

 

 

 

 

 

 

 

 

 

All other sales

 

$

67,872

 

 

 

$

63,527

 

 

 

$

299,144

 

 

 

$

271,012

 

 

% Increase vs. LY

 

 

6.8%

 

 

 

 

24.3%

 

 

 

 

10.4%

 

 

 

 

17.1%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12 Weeks Ended

 

 

12 Weeks Ended

 

 

24 Weeks Ended

 

 

24 Weeks Ended

 

 

 

February 11, 2023

 

 

February 12, 2022

 

 

February 11, 2023

 

 

February 12, 2022

 

Domestic same store sales

 

 

5.3%

 

 

 

 

13.8%

 

 

 

 

5.5%

 

 

 

 

13.7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventory Statistics (Total Stores)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

as of

 

 

as of

 

 

 

 

 

 

 

 

 

February 11, 2023

 

 

February 12, 2022

 

 

 

 

 

 

 

Accounts payable/inventory

 

 

127.7%

 

 

 

 

126.8%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Inventory

 

$

5,731,255

 

 

 

$

5,031,222

 

 

 

 

 

 

 

 

Inventory per store

 

 

817

 

 

 

 

738

 

 

 

 

 

 

 

 

Net inventory (net of payables)

 

 

(1,590,296

)

 

 

 

(1,347,384

)

 

 

 

 

 

 

 

Net inventory / per store

 

 

(227

)

 

 

 

(198

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trailing 5 Quarters

 

 

 

 

 

 

 

 

 

February 11, 2023

 

 

February 12, 2022

 

 

 

 

 

 

 

Inventory turns

 

 

1.5

x

 

 

1.6

x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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