Auto parts retailer AutoZone on Tuesday (Dec. 7) said it has opened 15 new stores in the U.S., two stores in Mexico and one store in Brazil in the first quarter of fiscal 2022, covering the three-month period ending Nov. 20.
That continued global expansion gives the company 6,066 stores in the U.S., 666 locations across Mexico and 53 in Brazil, totaling 6,785.
With new and used car prices still high, AutoZone’s Q1 sales were booming, up 16.3% to $3.7 billion compared to the same period two years ago. Domestic same-store sales were up 13.6% for Q1.
“Our strong sales and earnings this first quarter are a continuing testament to our AutoZoners’ commitment to going the extra mile for our customers,” said Bill Rhodes, chairman, president and CEO, in the AutoZone announcement.
Retail and commercial sales performance “was consistently strong all quarter,” Rhodes added, with the commercial business growth surpassing 29% “as the investments we are making are positioning us well in the marketplace.”
“We are optimistic about our growth prospects for the balance of the fiscal year,” he said.
AutoZone’s inventory increased 3% in the first quarter of fiscal 2022 over the same period last year, driven by new stores.
“During these unique and challenging times, we will strive to deliver the best customer service possible,” Rhodes said.
Related: Advance Auto Parts Sales Growth Continues
Last month, rival car parts retailer Advance Auto Parts reported that net sales for the third quarter of their fiscal 2021 were up 3.1% to $2.6 billion, with comparable sales also increased by 3.1% and up 13.3% since the same time in 2019.
The company’s operating income dropped 10.8% in the third quarter of fiscal 2021 to $229.2 million, although the adjusted operating income was up 6.9% to $273.8 million. That growth was spurred by improvements in the chain’s brick-and-mortar stores and its online presence.
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