MEMPHIS, Tenn., Oct. 31 /PRNewswire/ -- AutoZone, Inc. (NYSE: AZO),
announced today that quarter-to-date same store sales growth was in the 7% -8%
range. For the same period, AutoZone has realized the gross margin and
expense ratio improvements that were discussed in its most recent conference
call. A replay of this call is available on AutoZone's website,
www.AutoZone.com , by clicking "About Us," "Investor Relations," "Conference
Calls." AutoZone's first fiscal quarter ends on November 17, 2001.
AutoZone has also continued to experience strong positive cash flow,
resulting in a reduction in debt outstanding compared to the same period a
year ago. Further, interest rates on short term borrowings are below year ago
levels, and the Company continues to show accretion to earnings per share from
its previous stock repurchases.
With these initial results, the Company is very comfortable that it will
exceed the current Thomson/First Call consensus estimate of $0.57 for its
first quarter. AutoZone plans to announce first quarter results on
December 13, 2001, in connection with its annual stockholders' meeting, which
will be webcast on the AutoZone website.
As of August 25, 2001, AutoZone sells auto and light truck parts,
chemicals and accessories through 3,019 AutoZone stores in 42 states plus the
District of Columbia in the U.S. and 21 AutoZone stores in Mexico, and
automotive diagnostic and repair software through ALLDATA, diagnostic and
repair information through alldatadiy.com, and auto and light truck parts
through AutoZone.com .
Certain statements contained in this press release are forward-looking
statements. These statements discuss, among other things, estimates of
financial results, business strategies and future performance. These
forward-looking statements are subject to risks, uncertainties and
assumptions, including, without limitation, competition, product demand, the
economy, inflation, the ability to hire and retain qualified employees,
consumer debt levels, war and the prospect of war, including terrorist
activity, and availability of commercial transportation. Actual results may
materially differ from anticipated results. AutoZone undertakes no obligation
to publicly release any revisions to any forward-looking statements contained
in this press release to reflect events or circumstances occurring after the
date of this release or to reflect the occurrence of unanticipated events.
SOURCE AutoZone, Inc.
CONTACT: Emma Jo Kauffman of AutoZone, +1-901-495-7005/