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AutoZone 4th Quarter Same Store Sales Increase 1.0%; 4th Quarter EPS Increases 6.8% to $15.27; Fiscal 2017 Sales of $10.9 Billion; Fiscal 2017 EPS Increases 8.3% to $44.07
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By AutoZone
MEMPHIS, Tenn. , Dec. 19, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today announces two Senior Vice President promotions. Bailey Childress , Vice President, Merchandising, has been promoted to Senior Vice President, Omnichannel and Merchandising Support, and Luke Rauch , Vice President,
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By AutoZone
MEMPHIS, Tenn. , Dec. 10, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.3 billion for its first quarter (12 weeks) ended November 23, 2024 , an increase of 2.1% from the first quarter of fiscal 2024 (12 weeks). Same store sales, or sales for our domestic and
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By AutoZone
MEMPHIS, Tenn. , Dec. 03, 2024 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO) announced it will hold its Annual Meeting of Stockholders on Wednesday, December 18, 2024 , at the J.R. Hyde III Store Support Center in Memphis, Tennessee . The meeting will begin at 9:00 a.m. (ET) .
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By Counterman
Auto-Wares announced that Brian Burkett has been named the new director of sales. Burkett began his career as a delivery driver at the Auto Value location in Houghton Lake, Michigan, was later promoted to a salesperson role, and eventually, in 2017, he became district manager, according to Auto-Wares. Burkett’s promotion is a testament to his hard work, leadership and dedication, the company said.
link hidden, please login to viewadded Burkett attended college career fairs, networked through the Young Automotive Networking Group (YANG), and continually refined his leadership skills, solidifying his impact on the team and the industry. Burkett was awarded several scholarships to support his growth, including the Leadership 2.0 and Heavy-Duty Leadership Scholarships through Northwood University. That growth led Burkett to the director of sales for Auto-Wares Group of Companies. Beyond his new role,
link hidden, please login to viewsaid Burkett will continue serving as a Tech Expo committee member and lead the Customer Relationship Management program. The post
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By shelitaauto
Source: Gasgoo
link hidden, please login to view Japanese automaker Nissan Motor’s two assembly plants in the southeastern United States have been affected by slowing vehicle sales. Nissan Motor North America expects its U.S. production to decrease by 17 percent in fiscal year 2024 (April 2024 to March 2025). Nissan has already said it will cut its production by 20 percent globally to deal with oversupply and ballooning costs.
Image Source: Nissan
In a planning document sent to auto parts suppliers in November, Nissan projected it would build 503,202 vehicles in Canton, Mississippi, and Smyrna, Tennessee, in fiscal 2024, down from 605,435 in fiscal 2023.
Nissan has informed its auto parts suppliers that its vehicle production for the second half of the fiscal year 2024 (October 2024 to March 2025) will be 12,554 units less than originally planned (i.e. a 4.8% reduction).
Nissan is cutting production of several light trucks, including 6,438 Frontier midsize pickups and 2,010 Rogue compact crossovers. In the first nine months of this year, the two models together accounted for 37% of Nissan’s U.S. sales.
Nissan also plans to reduce production of 2,290 Pathfinder large crossovers and 2,465 Infiniti QX60 midsize crossovers, but plans to increase production of 649 Nissan Altima midsize sedans.
At the same time, Nissan will reduce shifts at some assembly plants from five days a week to four by the end of the year.
Nissan spokesman Brian Brockman said the company adjusted its production forecast in response to a dynamic market to ensure the automaker maintains healthy supply and inventory levels.
Nissan has cut U.S. production several times this year to reduce dealer inventories. U.S. supply of the Nissan brand peaked at 112 days in April, compared with an industry average of 76 days, according to Cox Automotive.
In the first quarter of this year, Nissan reduced its U.S. production by 6%, or about 10,200 vehicles, with the Rogue model accounting for more than 50% of the reduction, and the Pathfinder and Frontier models also affected. In September and October, Nissan cut production of the Rogue and Frontier by as much as 40,000 vehicles.
According to Automotive News Research and Data Center, the Nissan brand has lost more than 25 percent of its market share in the U.S. over the past five years, and its market share has fallen to 5.6 percent in the first nine months of this year. The reduction in Nissan’s vehicle production pushed the profitability of Nissan dealers to its lowest level in nearly 15 years in the first half of this year.
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