Галерея 4582954

Галерея 4582954
Non-Duty Free (Blue Price Tag) Non-Duty Free (Blue Price Tag) is the product that includes import tax and value-added tax, which provides a variety of products to serve the lifestyle. Learn more
Robo is our signature box bag, inspired by a classic robot which reminds us for the good old days.
Duty Free shopping provides international travellers an opportunity to buy more but pay less on a wide variety of products.
Non-Duty Free (Blue Price Tag) Shopping provides the wide variety of products that cater to the taste of each lifestyle.
Shopping Duty Free Products at KING POWER Downtown or Online, the goods will be available for pick up at the Pick Up Counter in the Airport on your departure flight from Thailand.
Home delivery service is available for Non-Duty Free (Blue Price Tag) Product. Your order will be delivered within 2-7 days in territory of Thailand.
Duty Free shopping provides international travellers an opportunity to buy more but pay less on a wide variety of products.
Non-Duty Free (Blue Price Tag) Shopping provides the wide variety of products that cater to the taste of each lifestyle.
Shopping Duty Free Products at KING POWER Downtown or Online, the goods will be available for pick up at the Pick Up Counter in the Airport on your departure flight from Thailand.
Home delivery service is available for Non-Duty Free (Blue Price Tag) Product. Your order will be delivered within 2-7 days in territory of Thailand.
Credit card instalment plan of each provider is subjective and the grand total is 10,000 THB or more. (Issued by Bank of Thailand)
You can purchase non-duty free products and choose delivery options, either: - Pickup at the airport on your international flight departure date. - Home delivery service. - Your order will be delivered within 1-7 working days (**Regarding the COVID-19 situation, your order will be delivered within 2-8 working days).
Get exclusive offers and the latest news from KING POWER.

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Non-Duty Free (Blue Price Tag) Non-Duty Free (Blue Price Tag) is the product that includes import tax and value-added tax, which provides a variety of products to serve the lifestyle. Learn more
Robo is our signature box bag, inspired by a classic robot which reminds us for the good old days.
Duty Free shopping provides international travellers an opportunity to buy more but pay less on a wide variety of products.
Non-Duty Free (Blue Price Tag) Shopping provides the wide variety of products that cater to the taste of each lifestyle.
Shopping Duty Free Products at KING POWER Downtown or Online, the goods will be available for pick up at the Pick Up Counter in the Airport on your departure flight from Thailand.
Home delivery service is available for Non-Duty Free (Blue Price Tag) Product. Your order will be delivered within 2-7 days in territory of Thailand.
Duty Free shopping provides international travellers an opportunity to buy more but pay less on a wide variety of products.
Non-Duty Free (Blue Price Tag) Shopping provides the wide variety of products that cater to the taste of each lifestyle.
Shopping Duty Free Products at KING POWER Downtown or Online, the goods will be available for pick up at the Pick Up Counter in the Airport on your departure flight from Thailand.
Home delivery service is available for Non-Duty Free (Blue Price Tag) Product. Your order will be delivered within 2-7 days in territory of Thailand.
Credit card instalment plan of each provider is subjective and the grand total is 10,000 THB or more. (Issued by Bank of Thailand)
You can purchase non-duty free products and choose delivery options, either: - Pickup at the airport on your international flight departure date. - Home delivery service. - Your order will be delivered within 1-7 working days (**Regarding the COVID-19 situation, your order will be delivered within 2-8 working days).
Get exclusive offers and the latest news from KING POWER.

AutoZone, Inc. (AZO) Q2 2023 Earnings Call Transcript
Feb. 28, 2023 2:26 PM ET AutoZone, Inc. (AZO)
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AutoZone, Inc. ( NYSE: AZO ) Q2 2023 Earnings Conference Call February 28, 2023 10:00 AM ET
Bill Rhodes - Chairman, President and CEO
Jamere Jackson - Executive Vice President and CFO
Brian Campbell - Vice President, Treasurer, Investor Relations and Tax
Scot Ciccarelli - Truist Securities
Greetings. Welcome to AutoZone’s 2023 Q2 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]
Please note, this conference is being recorded. Before we begin, the company would like to read some forward-looking statements.
Before we begin, please note that today’s call includes forward-looking statements that are subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future performance.
Please refer to this morning’s press release and the company’s most recent annual report on Form 10-K and other filings with the Securities and Exchange Commission for a discussion of important risks and uncertainties that could cause actual results to differ materially from expectations. Forward-looking statements speak only as of the date made and the company undertakes no obligations to update such statements.
Today’s call will also include certain non-GAAP measures. A reconciliation of non-GAAP to GAAP financial measures can be found in our press release.
I will now turn the conference call over to your host, Bill Rhodes, Chairman, President and Chief Executive Officer. Sir, you may begin.
Good morning. And thank you for joining us today for AutoZone’s 2023 second quarter conference call. With me today are Jamere Jackson, Executive Vice President and Chief Financial Officer; and Brian Campbell, Vice President, Treasurer, Investor Relations and Tax.
Regarding the first quarter, I hope you have had an opportunity to read our press release and learn about the quarter’s results. If not, the press release, along with slides complementing our comments today, are available on our website www.autozone.com under the Investor Relations link. Please click on Quarterly Earnings Conference Calls to see them.
As we begin, we would like to thank and congratulate our AutoZoners across the company for their commitment to delivering exceptional customer service. For the second quarter, our team delivered total sales growth of 9.5% versus 8.6% in the first quarter, in line with our expectations.
We were pleased with this performance as we were up against 15.8% total sales growth in last year’s second quarter. We could not have achieved these results without phenomenal contributions from across the organization. Once again, our AutoZoners’ efforts generated double-digit domestic commercial growth and single-digit domestic retail same-store sales growth.
As we move further and further away from the societal impacts experienced as a result of the pandemic, we are very pleased with our team’s ability to not only retain the tremendous growth we experienced over the last three years, but continue to grow on top of those phenomenal levels. Our team is relentlessly focused on getting back to normal or, as I call it, quote-unquote, exiting pandemic mode. We must get back to our well-known and highly regarded flawless execution.
In all candor, we still aren’t there yet. But we also have to reignite our innovation engine. We have some very good initiatives in development in both retail and commercial, and we have some significant improvements underway in our supply chain, as we modernize and expand it for the next decade of growth and beyond.
We are halfway through our fiscal year and we are pleased with our performance so far. More encouraging, we feel good about the balance of the year and know our AutoZoners are keenly focused on delivering great service and terrific performance.
This morning, we will review our second quarter same-store sales, DIY versus DIFM trends, our sales cadence over the 12-week quarter, merchandise categories that drove our performance and some regional call-outs. We will also share how inflation is affecting our cost and retails, and how we think inflation will impact our business for the remainder of our fiscal year.
Let’s now move into more specifics on our performance. Domestic same-store sales were up 5.3%, our net income was $477 million and our EPS was $24.64 a share, increasing 10.5%. Our domestic same-store sales comp was on top of last year’s 13.8% and in line with last quarter’s 5.6% comp.
On a two-year basis, we delivered a 19.1% comp, and get this, on a three-year basis, a 34.3% stacked comp. Our team once again delivered amazing results despite the comparison to the last couple of years being the hardest quarterly compare for the entire fiscal year.
Now let me spend a few moments on growth, our growth dynamics in the quarter. Our growth rates for retail and commercial were both strong, with domestic retail sales up nearly 5% and domestic commercial growth north of 13%. We continue to set commercial quarterly records with $955 million in sales, another impressive quarter as we generated $111 million more in sales than in Q2 last year.
On a trailing four-quarter basis, we delivered just under $4.5 billion in annual commercial sales, up an amazing 19% over last year. We also set another Q2 record for average weekly sales per store at $14,500 versus $13,500 last year. Domestic commercial sales represented 30% of our domestic auto parts sales versus 28% this time last year.
It was encouraging to see our transaction trends improving from last quarter. Our retail transactions meaningfully improved and were down just 2.2% for the quarter, while our commercial transactions were up mid-single digits and improving.
Our average ticket in both retail and commercial experienced solid mid single-digit growth. Ticket growth decelerated from Q1 as we began to lap the acceleration in inflation we experienced this time last year.
We are beginning to see signs of product cost and freight inflation slowing, and we expect to see these begin to return to historical norms over time. We are continuing to see -- to experience substantially higher wage inflation than historically in the mid single-digit range, more than double our historical experience.
While the staffing environment is substantially improved versus this time last year, we don’t envision wage inflation abating soon as there continues to be regulatory and market pressures. While we have to manage through these external forces, our focus continues to be on driving profitable market share growth, particularly in units and transactions.
Our growth initiatives are doing just that and include, new store unit growth, improved satellite store availability, hub and mega-hub openings, improvements in coverage, leveraging the strength of the Duralast brand, enhanced technology to make us easier to do business with and more efficient, reducing delivery times, enhancing our sales force effectiveness and living consistent with our pledge by being priced right for the value proposition we deliver. Our goal remains over time to become the industry leader in both DIY and commercial. Our strategy, execution and market momentum give us confidence as we move forward.
Digging deeper into our domestic DIY business this past quarter, we delivered a positive 2.7% comp on top of last year’s 8.4%. Our DIY results were similar to last quarter’s results on a one-year and two-year basis and accelerated on a three-year basis.
As previously said, our ticket growth was up 5% versus last year. We are pleased with our transaction count trends improving as we reported transactions down just 2%. These results are very strong, considering the difficult comparison to last year.
From the data we have available, we continued to retain the majority of the dollar share gains we have built during the pandemic and we continue to grow unit share, a critical measurement of our success. Our performance gives us continued conviction about the sustainability of our sales growth for the remainder of the year.
As we have shared forever, our second quarter is always the most volatile sales quarter due to the holidays, their timing shifts, and more importantly, weather, specifically extreme temperatures, which all can have a tremendous impact on our weekly sales.
This quarter was no different, with softer sales at the beginning of the quarter when the weather was mild and wet, followed by a large spike around Christmas with the very cold temperatures the country experienced. We exited the quarter with normalized growth rates.
We do believe we had enough harsh winter weather that we won’t be talking about the lingering effects of a mild winter weather or mild winter for the next several months. Our attention has now turned to tax rebate season, which historically drives enormous demand in our category.
Regarding our retail merchandise categories, our sales floor outperformed hard parts with approximately a 1.5% difference between them. Our relative outperformance in sales for categories is attributable to the discretionary categories improvement.
As gas prices naturally have come down and consumer has shown surprising resiliency, our discretionary categories performed better. The discretionary categories represented approximately 18% of our DIY sales in the quarter.
We were encouraged to see our battery, oil and wiper categories performed well and successfully lapped very strong performance last year. These categories have exceeded our expectations all year.
Our friction category for both DIY and commercial performed below our expectations for much of the quarter. However, it bounced back late and we are encouraged by our recent trends. We believe both our sales floor and hard parts businesses will continue to do well this spring, as we expect miles driven to continue improving, while our growth initiatives continued delivering solid results.
Let me also address pricing. In Q2, we experienced high single-digit pricing inflation in line with cost of goods. We believe both numbers will decrease in the current quarter as we begin to lap the onset of high inflation last year.
To be clear, we do not believe inflation is going away, especially wage inflation, but expect it to slow a bit as the economy slows. I want to highlight that our industry has been disciplined about pricing for decades, and we expect that to continue.
Most of the parts and products we sell in this industry have low price elasticity, because purchases are driven by failure or routine maintenance. Historically, as costs have increased, the industry has increased pricing commensurately to maintain margin rates, increasing margin dollars. It is also notable that following periods of higher inflation, our industry has historically not meaningfully reduced pricing to reflect lower cost.
Over the last three years, we have encouraged investors to keep a keen focus on our two-year and three-year comparisons. As we r
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