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AutoZone Fourth-Quarter Same Store Sales Increase 6.7 Percent

Jim Shea, EVP merchandising, marketing and supply chain, announces his retirement.

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MEMPHIS, Tenn. — AutoZone has reported net sales of $2.4 billion for its fourth quarter (16 weeks) ended Aug. 28, an increase of 9.5 percent from the fourth quarter of fiscal 2009 (16 weeks). Net income for the quarter increased $32.8 million, or 13.9 percent, over the same period last year to $268.9 million, while diluted earnings per share increased 27.7 percent to $5.66 per share from $4.43 per share in the year-ago quarter.

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For the fiscal year ended Aug. 28, sales were $7.4 billion, an increase of 8 percent from the prior year, while domestic same store sales were up 5.4 percent. In other news, Jim Shea, AutoZone’s executive vice president, merchandising, marketing and supply chain, will retire at the end of October.

“I would like to thank Jim for his many contributions to our organization over the last six years,” said Bill Rhodes, chairman, president and CEO.

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