AUTOZONE INCOME RISES 7% THIS YEAR

AutoZone, Inc. reported that its net income for the fiscal year was $244.8 million, an increase of 7% from last year.

Sales for the year rose 27% to $4.12 billion from $3.24 billion in 1998. Comparable in-store sales rose 4%.

"We had a lot of work to do in fiscal 1999 and I’m proud to say we got it done. We completed the conversion of the Chief and Express stores, and we opened 167 new stores in the U.S. and six in Mexico," said John C. Adams, chairman and CEO.

"With the conversions behind us, we’ll be able to focus on…selling auto parts and providing great customer satisfaction," he continued. "We’ll continue to invest in and grow our other business initiatives: TruckPro, ALLDATA and international. We also previewed alldatadiy.com this summer, and we’re very excited about the opportunities for AutoZone and e-commerce."

AutoZone currently operates 2,711 AutoZone stores in 39 states in the U.S. and 6 AutoZone stores in Mexico. AutoZone also sells heavy-duty truck parts through 46 TruckPro stores.

Originally published in the November 1999 issue of Automotive Booster of California.
Copyright 1999 by KAL Publications Inc.