AutoZone is growing its sales to both professional repair shops and do-it-yourselfers.
The auto parts chain said in a Tuesday (Dec. 6) press release that its domestic same-store sales were up 5.6% during the quarter ended Nov. 19, on top of the 13.6% gain it made last year. Both commercial and retail sales were up.
“We continue to be pleased with the results from the key initiatives we have been working on for the last several years — improved satellite store availability, hub and mega hub openings, improvements in coverage, the strength of the Duralast brand, better technology to make us easier to do business with, reduced delivery times, enhancing our sales force effectiveness and living consistent with our pledge by being priced right for the value proposition we deliver,” AutoZone Chairman, President and CEO Bill Rhodes said Tuesday during the company’s quarterly earnings call.
As PYMNTS reported in May, consumers are keeping their cars longer than ever, with the average vehicle age rising to about 12 years — increasing the demand for auto parts.
To meet this demand, AutoZone has been adding both technology and brick-and-mortar locations.
The company has invested a record amount of capital for future growth, adding technology to enhance its digital interaction with customers, improve its on-time performance on commercial deliveries and optimize its supply chain programs, Rhodes wrote in the company’s 2022 Annual Report released Oct. 24.
“In recent years, as technological innovations continue to accelerate across society, so does our appetite for technology enhancements at AutoZone,” he wrote.
AutoZone also added 35 stores in three countries during the quarter, bringing its total to 6,978. The company now has 6,196 stores in the United States, 706 in Mexico and 76 in Brazil, according to the press release.
“We believe our hard parts business will continue to do well this winter as we expect miles driven to improve while our growth initiatives are delivering solid results,” Rhodes said during the call.
For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.