AutoZone 2008 Annual Report Download - page 67
Download and view the complete annual report
Please find page 67 of the 2008 AutoZone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.
FRPSHWLWLYHVWUDWHJLHVRULIRXUFRPSHWLWRUVGHYHORSPRUHHIIHFWLYHVWUDWHJLHVZHFRXOGORVHFXVWRPHUVDQGRXUVDOHV
DQGSURILWVPD\GHFOLQH
,IZHFDQQRWSURILWDEO\LQFUHDVHRXUPDUNHWVKDUHLQWKHFRPPHUFLDODXWRSDUWVEXVLQHVVRXUVDOHVJURZWK
PD\EHOLPLWHG
$OWKRXJKZHDUHRQHRIWKHODUJHVWVHOOHUVRIDXWRSDUWVLQWKHFRPPHUFLDOPDUNHWWRLQFUHDVHFRPPHUFLDOVDOHVZH
PXVWFRPSHWHDJDLQVWQDWLRQDODQGUHJLRQDODXWRSDUWVFKDLQVLQGHSHQGHQWO\RZQHGSDUWVVWRUHVZKROHVDOHUVDQG
MREEHUVUHSDLUVKRSVDQGDXWRGHDOHUV$OWKRXJKZHEHOLHYHZHFRPSHWHHIIHFWLYHO\RQWKHEDVLVRIFXVWRPHUVHUYLFH
PHUFKDQGLVHTXDOLW\VHOHFWLRQDQGDYDLODELOLW\SULFHSURGXFWZDUUDQW\DQGGLVWULEXWLRQORFDWLRQVDQGWKHVWUHQJWK
RIRXU$XWR=RQHEUDQGQDPHWUDGHPDUNVDQGVHUYLFHPDUNVVRPHDXWRPRWLYHDIWHUPDUNHWMREEHUVKDYHEHHQLQ
EXVLQHVVIRUVXEVWDQWLDOO\ORQJHUSHULRGVRIWLPHWKDQZHKDYHKDYHGHYHORSHGORQJWHUPFXVWRPHUUHODWLRQVKLSVDQG
KDYHODUJHDYDLODEOHLQYHQWRULHV:HFDQPDNHQRDVVXUDQFHVWKDWZHFDQSURILWDEO\GHYHORSQHZFRPPHUFLDO
FXVWRPHUVRUPDNHDYDLODEOHLQYHQWRULHVUHTXLUHGE\FRPPHUFLDOFXVWRPHUV
,IRXUYHQGRUVFRQWLQXHWRFRQVROLGDWHZHPD\SD\KLJKHUSULFHVIRURXUPHUFKDQGLVH
,QUHFHQW\HDUVVHYHUDORIRXUYHQGRUVKDYHPHUJHG)XUWKHUYHQGRUFRQVROLGDWLRQFRXOGOLPLWWKHQXPEHURI
YHQGRUVIURPZKLFKZHPD\SXUFKDVHSURGXFWVDQGFRXOGPDWHULDOO\DIIHFWWKHSULFHVZHSD\IRUWKHVHSURGXFWV
&RQVROLGDWLRQDPRQJRXUFRPSHWLWRUVPD\QHJDWLYHO\LPSDFWRXUEXVLQHVV
5HFHQWO\VRPHRIRXUFRPSHWLWRUVKDYHPHUJHG,IWKLVWUHQGFRQWLQXHVRUWKH\DUHDEOHWRDFKLHYHHIILFLHQFLHVLQ
WKHLUPHUJHUVWKHUHPD\EHJUHDWHUFRPSHWLWLYHSUHVVXUHVLQWKHPDUNHWVLQZKLFKWKH\DUHVWURQJHU
:DURUDFWVRIWHUURULVPRUWKHWKUHDWRIHLWKHUPD\QHJDWLYHO\LPSDFWDYDLODELOLW\RIPHUFKDQGLVHDQG
DGYHUVHO\LPSDFWRXUVDOHV
:DURUDFWVRIWHUURULVPRUWKHWKUHDWRIHLWKHUPD\KDYHDQHJDWLYHLPSDFWRQRXUDELOLW\WRREWDLQPHUFKDQGLVH
DYDLODEOHIRUVDOHLQRXUVWRUHV6RPHRIRXUPHUFKDQGLVHLVLPSRUWHGIURPRWKHUFRXQWULHV,ILPSRUWHGJRRGV
EHFRPHGLIILFXOWRULPSRVVLEOHWREULQJLQWRWKH8QLWHG6WDWHVDQGLIZHFDQQRWREWDLQVXFKPHUFKDQGLVHIURPRWKHU
VRXUFHVDWVLPLODUFRVWVRXUVDOHVDQGSURILWPDUJLQVPD\EHQHJDWLYHO\DIIHFWHG
,QWKHHYHQWWKDWFRPPHUFLDOWUDQVSRUWDWLRQLVFXUWDLOHGRUVXEVWDQWLDOO\GHOD\HGRXUEXVLQHVVPD\EHDGYHUVHO\
LPSDFWHGDVZHPD\KDYHGLIILFXOW\VKLSSLQJPHUFKDQGLVHWRRXUGLVWULEXWLRQFHQWHUVDQGVWRUHV
5LVLQJHQHUJ\SULFHVPD\QHJDWLYHO\LPSDFWRXUSURILWDELOLW\
$VPHQWLRQHGDERYHULVLQJHQHUJ\SULFHVPD\LPSDFWGHPDQGIRUWKHSURGXFWVWKDWZHVHOORYHUDOOWUDQVDFWLRQFRXQW
DQGRXUSURILWDELOLW\+LJKHUHQHUJ\SULFHVLPSDFWRXUPHUFKDQGLVHGLVWULEXWLRQFRPPHUFLDOGHOLYHU\XWLOLW\DQG
SURGXFWFRVWV
'HPDQGIRURXUPHUFKDQGLVHPD\GHFOLQHLIYHKLFOHPDQXIDFWXUHUVUHIXVHWRPDNHDYDLODEOHWKHLQIRUPDWLRQ
RXUFXVWRPHUVQHHGWRZRUNRQWKHLURZQYHKLFOHV
'HPDQGIRURXUPHUFKDQGLVHPD\GHFOLQHLIYHKLFOHPDQXIDFWXUHUVUHIXVHWRPDNHDYDLODEOHWRWKHDXWRPRWLYH
DIWHUPDUNHWLQGXVWU\GLDJQRVWLFUHSDLUDQGPDLQWHQDQFHLQIRUPDWLRQWKDWRXUFXVWRPHUVERWKUHWDLO³',<´DQG
FRPPHUFLDO³',)0´UHTXLUHWRGLDJQRVHUHSDLUDQGPDLQWDLQWKHLUYHKLFOHV:LWKRXWSXEOLFGLVVHPLQDWLRQRIWKLV
LQIRUPDWLRQFRQVXPHUVPD\EHIRUFHGWRKDYHDOOGLDJQRVWLFZRUNUHSDLUVDQGPDLQWHQDQFHSHUIRUPHGE\WKH
YHKLFOHPDQXIDFWXUHUVGHDOHUQHWZRUN
'HWHULRUDWLQJFRQGLWLRQVLQWKHJOREDOFUHGLWPDUNHWVFKDQJHVLQRXUFUHGLWUDWLQJVDQGPDFURHFRQRPLF
IDFWRUVFRXOGDGYHUVHO\DIIHFWRXUILQDQFLDOFRQGLWLRQDQGUHVXOWVRIRSHUDWLRQV
2XUVKRUWWHUPDQGORQJWHUPGHEWLVUDWHGLQYHVWPHQWJUDGHE\WKHPDMRUUDWLQJDJHQFLHV7KHVHLQYHVWPHQWJUDGH
FUHGLWUDWLQJVKDYHKLVWRULFDOO\DOORZHGXVWRWDNHDGYDQWDJHRIORZHULQWHUHVWUDWHVDQGRWKHUIDYRUDEOHWHUPVRQRXU
10-K