AUTOZONE INC
For the period ended Aug 31, 2024. Filed Oct 28, 2024.
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FY2024 · Filed Oct 28, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
| | | |
|---|---|---|
| PART I | | 4 |
| Item 1. | 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 | 13 |
| Item 1B. | Unresolved Staff Comments | 22 |
| Item 1C. | Cybersecurity | 22 |
| Item 2. | Properties | 24 |
| Item 3. | 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 | 27 |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk | 39 |
| Item 8. | 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 | 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 | 76 |
| Item 12. | 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 |
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 other business interruptions. These and other risks and uncertainties could materially and adversely affect our business and are discussed in more detail in the “Risk Factors” section contained in Item 1A under Part 1 of this Annual Report on Form 10-K for the year ended August 31, 2024. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those contemplated by such forward-looking statements. Events described above and in the “Risk Factors” section could materially and adversely affect our business. However, it is not possible to identify or predict all such risks and other factors that could affect these forward-looking statements. Forward-looking statements speak only as of the date made. Except as required by applicable law, we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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