Financials
Mild Winter Stifles AutoZone’s Q2 Sales
Domestic same-store sales for the quarter, which ended Feb. 15, were down 0.8%.
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Domestic same-store sales for the quarter, which ended Feb. 15, were down 0.8%.
Full-year net sales came in at $9.7 billion, up from $9.58 billion in 2018.
The company has a number of major projects on tap this year.
Full-year sales were $10.15 billion, up 6% from full-year 2018.
Overall, AutoZone reported net sales of $2.8 billion for its fiscal first quarter, a nearly 6% year-over-year increase.
While the Trump administration's tariffs on imported Chinese goods haven’t had an impact on AutoZone's bottom line, customers can expect to pay higher prices for auto parts as the trade war drags on.
AutoZone is ringing in its fiscal new year with plenty to toast, after the company reported record sales and continued to make inroads with commercial customers during its fiscal 2019, which ended Aug. 31.
CEO Tom Greco made it clear the company needs to address “some internal factors” to rev up the do-it-yourself side of the business.
Comparable store sales for the second quarter, which ended July 13, were flat year-over-year.
Sales for the first six months of 2019 increased to $5 billion, up 6% from $4.74 billion for the first six months of 2018.
