Key PointsConsidering these valuation indicators, Japan's 'lost decade' could be close to what the S&P 500 will experience.Picking stocks unaffected by the business cycle becomes critical in this period, as well as products that don't go out of style.Adding high rates of return on capital will allow you to line your portfolio up with an opportunity to compound your wealth.5 stocks we like better than Consumer Discretionary Select Sector SPDR FundToday's market is the epitome of opportunity for those who kno ...

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It has been about a month since the last earnings report for AutoZone (AZO) . Shares have lost about 5.3% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is AutoZone due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. AutoZone Q1 Earnings & Sales Beat EstimatesAutoZone ...

The start of a New Year is a good time to scrutinize a portfolio and make some adjustments including adding undervalued stocks.Stocks that enjoyed big runs last year may cool off, requiring investors to search out securities they can buy low in hopes of eventually selling at a higher price. Fortunately, there are still a lot of undervalued stocks available despite the market rally that occurred in 2023. Stock market returns over the past year were uneven, with about 70% of the stocks in the S&P 500 lagging ...

MEMPHIS, Tenn., Jan. 02, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO) completed its Leadership Transition Plan announced on June 26, 2023. Today, Phil Daniele, a 30-year AutoZoner, who most recently served as Chief Executive Officer-Elect, became President and Chief Executive Officer (CEO). Bill Rhodes, a 29-year AutoZoner, and our CEO for nearly 19 years, who most recently served as Chairman, President and CEO, transitioned into the role of Executive Chairman. "A very special congratulations to Phil ...

MEMPHIS, Tenn., Dec. 20, 2023 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO), today announced its Board of Directors authorized the repurchase of an additional $2.0 billion of the Company's common stock in connection with its ongoing share repurchase program. Since the inception of the repurchase program in 1998, and including the above amount, AutoZone's Board of Directors has authorized $37.7 billion in share repurchases. "AutoZone's continuing ability to generate strong free cash flow allows us to increas ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended November 18, 2023, or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _______ to ________. Commission file number 1-10714 AUTOZONE, INC. (Exact name of registrant as specified in its charter) Nevada 62-1482048 (State or other jurisdict ...

AutoZone, Inc. (NYSE:AZO) Q1 2024 Results Conference Call December 5, 2023 10:00 AM ET Company Participants Bill Rhodes - Chairman and CEO Phil Daniele - CEO-Elect Jamere Jackson - CFO Brian Campbell - VP, Treasurer, IR and Tax Conference Call Participants Bret Jordan - Jefferies Michael Lasser - UBS Max Rakhlenko - TD Cowen Chris Horvers - JPMorgan Seth Sigman - Barclays Zach Fadem - Wells Fargo Simeon Gutman - Morgan Stanley Daniel Imbro - Stephens Inc. Seth Basham - Wedbush Securities Operator Good day, ...

Store Expansion and Revenue Growth - The company has increased its store count from 6,202 stores in August 2018 to 7,140 stores in August 2023, representing a compounded annual growth rate of 3%[71] - Annual revenues grew from $11.2 billion in fiscal 2018 to $17.5 billion in fiscal 2023, with a compounded annual growth rate of 9%[71] - Future success depends on the ability to open new stores and remodel existing ones to meet customer needs[85] - The company operated 6,300 stores in the U.S., 740 in Mexico, and 100 in Brazil at the end of fiscal 2023, maintaining a strong retail presence[253] Labor and Employment Challenges - The workforce consists of approximately 119,000 employees, and labor costs represent the largest operating expense[74] - The company faces challenges in hiring and retaining qualified employees due to competitive labor market conditions[75] Supply Chain and Inventory Management - Significant investments in the supply chain are planned to improve product availability and meet long-term store expansion goals[87] - Disruptions in the supply chain could adversely impact inventory availability and customer loyalty[83] Market Competition - The company's sales growth may be limited if it cannot profitably increase its market share in the commercial auto parts business[72] - The company must effectively compete against various market participants to increase its commercial market share[73] Cybersecurity and IT Risks - The company relies heavily on information technology systems for key business processes, which are vulnerable to various risks including cyber-attacks and system failures[97] - Significant investments are required to upgrade legacy systems and migrate applications to the cloud, which may lead to operational challenges and increased costs[98] - The company has not experienced a material breach to date, but unauthorized access attempts have occurred, indicating ongoing security vulnerabilities[104] - The cost to remediate cyber incidents could be substantial, potentially leading to significant liability and reputational harm[105] - The regulatory environment regarding data privacy is becoming increasingly complex, which may require significant resources to comply and could adversely impact operations[106] Financial Performance - Net income for the year ended August 26, 2023, was $2,528,426, an increase from $2,429,604 in the previous year, representing a growth of 4.1%[245] - Total revenue for the year was $17,457,209, compared to $16,252,230 in the prior year, reflecting a year-over-year increase of 7.4%[243] - Operating profit for the year was $3,473,986, up from $3,270,729, indicating a growth of 6.2%[243] - Comprehensive income for the year reached $2,638,126, compared to $2,437,054 in the previous year, marking an increase of 8.2%[245] - Total assets as of August 26, 2023, amounted to $15,985,878, up from $15,275,043, showing a growth of 4.6%[247] Debt and Interest Rates - The fair value of the company's debt was estimated at $7.3 billion as of August 26, 2023, compared to $5.9 billion as of August 27, 2022, reflecting a decrease in fair value of $406.6 million[219] - The company had $1.2 billion in variable rate debt outstanding as of August 26, 2023, an increase from $603.4 million as of August 27, 2022[219] - Fixed rate debt amounted to $6.5 billion, net of unamortized debt issuance costs of $41.1 million, as of August 26, 2023, up from $5.5 billion with unamortized costs of $31.3 million as of August 27, 2022[220] - A one percentage point increase in interest rates would reduce the fair value of fixed rate debt by approximately $264.7 million as of August 26, 2023[220] - The Company had a consolidated interest coverage ratio of 6.3:1 as of August 26, 2023, significantly above the required minimum of 2.5:1[339] Cash Flow and Capital Expenditures - Cash provided by operating activities decreased to $2,940,788 from $3,211,135, reflecting a decline of 8.4% year-over-year[248] - Capital expenditures increased to $796,657, up from $672,391, representing a rise of 18.5%[248] - The company reported a net cash used in investing activities of $876,178, compared to $648,099 in the previous year, indicating a 35.2% increase[248] - The company reported a net cash used in financing activities of $2,060,082, a decrease from $3,470,497 in the previous year, indicating a 40.6% reduction[248] Tax and Regulatory Matters - The company's effective tax rate for the year ended August 26, 2023, was 20.2%, down from 21.1% in the previous year[315] - The company had net operating loss carryforwards totaling approximately $314.6 million as of August 26, 2023, compared to $241.2 million on August 27, 2022[319] - The company reported deferred tax assets of $917.0 million as of August 26, 2023, an increase from $867.1 million on August 27, 2022[318] Shareholder Returns and Stock Activity - The Company has $1.8 billion remaining under the Board's authorization to repurchase its common stock, with a total repurchase activity amounting to $3.72 billion for the year ended August 26, 2023[351] - The Company retired 2.1 million shares of treasury stock during fiscal year 2023, increasing Retained deficit by $4.2 billion[353] Lease Obligations - Total lease assets as of August 26, 2023, amounted to $3,417,344 thousand, an increase from $3,323,259 thousand as of August 27, 2022, reflecting a growth of approximately 2.83%[355] - Total lease liabilities as of August 26, 2023, were $3,461,920 thousand, up from $3,391,685 thousand as of August 27, 2022, indicating an increase of about 2.06%[355] - Operating lease costs for the year ended August 26, 2023, totaled $437,762 thousand, an increase from $401,000 thousand for the year ended August 27, 2022, representing a growth of approximately 9.1%[357]

AutoZone, Inc. (NYSE:AZO) Q4 2023 Earnings Conference Call September 18, 2023 10:00 AM ET Company Participants Bill Rhodes - Chairman, President and CEO, Customer Satisfaction Philip Daniele - CEO-Elect and EVP, Merchandising, Marketing and Supply Chain, Customer Satisfaction Jamere Jackson - CFO and EVP, Finance and Store Development, Customer Satisfaction Conference Call Participants Bret Jordan - Jefferies Simeon Gutman - Morgan Stanley Seth Sigman - Barclays Elizabeth Suzuki - Bank of America Merrill Ly ...