AutoZone Files 2024 Annual Report

TL;DR

AZO filed its 2024 10-K. All good.

AI Summary

AutoZone Inc. filed its 10-K for the fiscal year ending August 31, 2024. The company, headquartered in Memphis, TN, operates in the auto and home supply retail sector. Key financial data and operational details for the period are presented in this comprehensive filing.

Why It Matters

This filing provides investors and analysts with a detailed overview of AutoZone's financial performance and strategic positioning for the fiscal year 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual report filing for a large, established company, indicating routine business operations.

Key Numbers

• 2024-08-31 — Fiscal Year End (The reporting period concludes on this date.)
• 2024-10-28 — Filing Date (Date the 10-K was submitted to the SEC.)

Key Players & Entities

• AUTOZONE INC (company) — Filer of the 10-K report
• 2024-08-31 (date) — Fiscal year end date
• Memphis, TN (location) — Company headquarters
• 0000866787 (company_id) — Central Index Key for AutoZone Inc.

FAQ

Key Financial Figures

• $0.01 — ange on which Registered Common Stock ($0.01 par value) AZO New York Stock Excha

Filing Documents

• azo-20240831x10k.htm (10-K) — 3057KB
• azo-20240831xex19d1.htm (EX-19.1) — 123KB
• azo-20240831xex21d1.htm (EX-21.1) — 13KB
• azo-20240831xex23d1.htm (EX-23.1) — 8KB
• azo-20240831xex31d1.htm (EX-31.1) — 15KB
• azo-20240831xex31d2.htm (EX-31.2) — 14KB
• azo-20240831xex32d1.htm (EX-32.1) — 7KB
• azo-20240831xex32d2.htm (EX-32.2) — 7KB
• azo-20240831x10k001.jpg (GRAPHIC) — 6KB
• azo-20240831x10k002.jpg (GRAPHIC) — 58KB
• 0001558370-24-013758.txt ( ) — 12291KB
• azo-20240831.xsd (EX-101.SCH) — 66KB
• azo-20240831_cal.xml (EX-101.CAL) — 96KB
• azo-20240831_def.xml (EX-101.DEF) — 208KB
• azo-20240831_lab.xml (EX-101.LAB) — 598KB
• azo-20240831_pre.xml (EX-101.PRE) — 482KB
• azo-20240831x10k_htm.xml (XML) — 2252KB

Business

Business 4 Introduction 4 Human Capital Resources 4 Store Operations 6 Commercial 7 Store Development 8 Marketing and Merchandising Strategy 8 Purchasing and Supply Chain 10 Competition 10 Government Relations 10 Trademarks and Patents 10 Seasonality 11 AutoZone Websites 11 Information about our Executive Officers 11 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 22 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 24 Item 4. Mine Safety Disclosures 24 PART II 25 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6. Reserved 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 41 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 74 Item 9A.

Controls and Procedures

Controls and Procedures 75 Item 9B. Other Information 75 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 75 PART III 76 Item 10. Directors, Executive Officers and Corporate Governance 76 Item 11.

Executive Compensation

Executive Compensation 76 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 76 Item 13. Certain Relationships and Related Transactions, and Director Independence 76 Item 14. Principal Accounting Fees and Services 77 PART IV 78 Item 15. Exhibits and Financial Statement Schedules 78 Item 16. Form 10-K Summary 84 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements Certain statements herein constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and typically use words such as "believe," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strategy," "seek," "may," "could" and similar expressions, although not all forward-looking statements contain such identifying words. These statements are based on assumptions and assessments made by our management in light of experience, historical trends, current conditions, expected future developments and other factors that we believe appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation: product demand, due to changes in fuel prices, miles driven or otherwise; energy prices; weather, including extreme temperatures and natural disasters; competition; credit market conditions; cash flows; access to financing on favorable terms; future stock repurchases; the impact of recessionary conditions; consumer debt levels; changes in laws or regulations; risks associated with self-insurance; war and the prospect of war, including terrorist activity; public health issues; inflation, including wage inflation; exchange rates; the ability to hire, train and retain qualified employees, including members of management; construction delays; failure or interruption of our information technology systems; issues relating to the confidentiality, integrity or availability of information, including due to cyber-attacks; historic growth rate sustainability; downgrade of our credit ratings; damage to our reputation; challenges associated with doing business in and expanding into international markets; origin and raw material costs of suppliers; inventory availability; disruption in our supply chain; tariffs; new accounting standards; our ability to execute our growth initiatives; and

Business

Item 1. Business Introduction AutoZone, Inc. ("AutoZone," the "Company," "we," "our" or "us") is the leading retailer and distributor of automotive replacement parts and accessories in the Americas. We began operations in 1979 and at August 31, 2024, operated 6,432 stores in the United States ("U.S."), 794 stores in Mexico and 127 stores in Brazil. Each store carries an extensive product line for cars, sport utility vehicles, vans and light duty trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. At August 31, 2024, in 5,898 of our domestic stores as well as the vast majority of our stores in Mexico and Brazil, we had a commercial sales program that provides prompt delivery of parts and other products and commercial credit to local, regional and national repair garages, dealers, service stations, fleet owners and other accounts. We also sell automotive hard parts, maintenance items, accessories and non-automotive products through www.autozone.com, and our commercial customers can make purchases through www.autozonepro.com. Additionally, we sell the ALLDATA brand of automotive diagnostic, repair, collision and shop management software through www.alldata.com. We also provide product information on our Duralast branded products through www.duralastparts.com. We do not derive revenue from automotive repair or installation services. Our websites and the information contained therein or linked thereto are not intended to be incorporated into this report. Human Capital Resources We believe the foundation of our success is our culture, which is rooted in our Pledge and Values and defines how our employees ("AutoZoners") take care of customers and fellow AutoZoners. Each AutoZoner works hard to Live the Pledge, share their passion for WOW! Customer Service and Go the Extra Mile every day to continue building and growing AutoZone for our customers. We seek to be the employer of choice as we compet

View Full Filing

View this 10-K filing on SEC EDGAR