AutoZone said net sales for the 12-week period ended February 10, 2024 for Q2 were $3.9 billion, up 4.6% from a year earlier. Net income was $515.0 million and diluted EPS was $28.89.

1. 01

   AutoZone said net sales for the 12-week period ended February 10, 2024 for Q2 were $3.9 billion, up 4.6% from a year earlier. Net income was $515.0 million and diluted EPS was $28.89.

2. 02

   The company said gross profit as a percentage of sales was 53.9% in Q2, up 160 basis points from the prior year, and operating expenses as a percentage of sales were 34.6% versus 34.1% a year earlier. The company cited domestic store payroll and technology-related investments as the drivers of the deleverage.

3. 03

   AutoZone said same store sales for Q2 (12 weeks) rose 3.0% for the total company (1.5% on a constant currency basis), 0.3% for domestic stores, and 23.9% for international stores (10.6% on a constant currency basis).

4. 04

   The company said it repurchased 84 thousand shares of common stock in Q2 at an average price of $2,676 per share, for a total investment of $223.8 million. It said $2.1 billion remained under its share repurchase authorization at the end of the quarter.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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