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News Breaks
February 26, 2013
12:46 EDTAAP, AZOAutoZone falls after CEO says sales remain inconsistent
Auto parts retailer AutoZone (AZO) is retreating after the company's CEO, Bill Rhodes, said during the company's earnings conference call this morning that its sales "have remained inconsistent and below our desires and expectations." The company's sales growth during the first two weeks of February, which are the last two weeks of its second quarter, were below normal historical levels, Rhodes added. Usually the company's sales during these two weeks increase significantly compared with prior weeks, the CEO explained. This year, however, its sales rose only modestly versus previous weeks, Rhodes said. Moreover, its U.S. same-store sales during this period tumbled 8% versus the same period in 2012, he reported. The weakness was caused by delays in the processing of tax refunds by the IRS, the CEO stated, adding that the company's outlook remains "cautious." AutoZone's domestic same-store sales dropped 1.8% during its entire second quarter. On a positive note, AutoZone's second quarter earnings per share of $4.78 and revenue of $1.9B were slightly ahead of analysts' consensus estimates. In early afternoon trading, AutoZone shares fell about $5, or 1.3%, to $373.56. Meanwhile, Advance Auto Parts (AAP), one of AutoZone's competitors, dropped 1.6% to $77.10.
News For AZO;AAP From The Last 14 Days
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February 27, 2015
06:51 EDTAZOAutoZone March volatility elevated into O4 and outlook
AutoZone March call option implied volatility of 22, April is at 18, June is at 17; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on March 3.
February 17, 2015
06:34 EDTAAPAdvance Auto Parts pullback a buying opportunity, says JPMorgan
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