AutoZone 1999 Annual Report Download - page 16

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14
Ten-Year Review
(in thousands, except per share data and selected operating data)
5-Year 10-Year
Compound Compound
Growth Growth 1999 1998
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22% 23% $ 4,116,392 $3,242,922
Cost of sales, including warehouse and delivery expenses . . . . . . . 2,384,970 1,889,847
Operating, selling, general and administrative expenses . . . . . . . . 1,298,327 970,768
Operating profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18% 33% 433,095 382,307
Interest income (expense) Ð net . . . . . . . . . . . . . . . . . . . . . . . . . (45,312 ) (18,204 )
Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15% 38% 387,783 364,103
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143,000 136,200
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16% 39% $ 244,783 $ 227,903
Diluted earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16% 37% $1.63 $1.48
Adjusted weighted average shares for diluted earnings per share . . 150,257 154,070
Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,225,084 $1,117,090
Working capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224,530 257,261
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,284,767 2,748,113
Current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000,554 859,829
Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 888,340 545,067
StockholdersÕ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,323,801 1,302,057
Number of domestic auto parts stores at beginning of year . . . . . . 2,657 1,728
New stores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 245 952
Replacement stores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 12
Closed stores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 23
Net new stores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 929
Number of domestic auto parts stores at end of year . . . . . . . . . 2,711 2,657
Total domestic auto parts store square footage (000Õs) . . . . . . . . . 17,405 16,499
Percentage increase in domestic auto parts store square footage . . . . . . .
5% 42%
Percentage increase in domestic auto parts comparable store net sales
. . 4% 2%
Average net sales per domestic auto parts store (000Õs) . . . . . . . . $1,465 $1,568
Average net sales per domestic auto parts store square foot . . . . $232 $238
Total employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,483 38,526
Gross profit Ð percentage of sales . . . . . . . . . . . . . . . . . . . . . . . . 42.1% 41.7%
Operating profit Ð percentage of sales . . . . . . . . . . . . . . . . . . . . . 10.5% 11.8%
Net income Ð percentage of sales . . . . . . . . . . . . . . . . . . . . . . . . 5.9% 7.0%
Debt-to-capital Ð percentage . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40.2% 29.5%
Inventory turnover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3x 2.3x
Return on average equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19% 19%
* 53weeks. Comparable store sales, average net sales per store and average net sales per store square foot
for fiscal year 1996 and 1991 have been adjusted to exclude net sales for the 53rd week.
Income
Statement Data
Balance
Sheet Data
Selected
Operating Data