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AutoZone (AZO) fiscal Q1 earnings beat estimates

By Joyanta Acharjee

14:35, 7 December 2021

An AutoZone car parts store
During the period, the company opened 15 new stores in the US – Photo: Shutterstock

AutoZone beat estimates for its fiscal first-quarter as net income growth was driven by strong topline growth.

AutoZone, a car parts retailer, competes in the same retail space as Advance Auto Parts and O’Reilly Auto Parts.

For the fiscal first-quarter ended 20 November, net income grew to $555.2m (£419.8m) from $442.4m a year earlier. Net sales came to $3.67bn, up 16% from $3.15bn in the year-ago period.

Earnings per share

On a per-share basis, earnings rose to $25.69 per share from $18.61 a year earlier.

Analysts were expecting adjusted earnings of $20.98 per share on net sales of $3.37bn, according to figures widely available on financial news sites.


39,601.30 Price
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Overnight fee time 22:00 (UTC)
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“Our retail and commercial sales performance were consistently strong all quarter. Our commercial business growth continues to be exceptionally strong at 29.4% as the investments we are making are positioning us well in the marketplace. We are optimistic about our growth prospects for the balance of the fiscal year,” AutoZone CEO Bill Rhodes said in a press release.

Same-store sales 

Domestic same-store sales, a key retail metric, increased 13.6% over the previous year. During the period, the company opened 15 new stores in the US, two stores in Mexico and one store in Brazil, bringing the total to 6,785 stores.

In pre-market trading, the stock was up 3% at $1,930.00.

Read more: Which Chinese EV stocks to buy

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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