SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 29, 2002
Date of Report
(Date of earliest event reported)
AUTOZONE, INC.
(Exact name of registrant as specified in its charter)
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incorporation or organization) |
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Identification No.) |
123 South Front Street
Memphis, Tennessee 38103
(Address of principal executive offices) (Zip Code)
(901) 495-6500
Registrant's telephone number, including area code
(not applicable)
Former name, former address and former fiscal year, if changed since
last report.
Item 5. Other Events
Selected
financial results for the registrant's fiscal quarter ended May 4, 2002
are filed as Exhibit 99.1 to this Current Report.
Item 7. Financial Statements and Exhibits
(c) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AUTOZONE, INC.
By: /s/ Harry L. Goldsmith
Dated:
May 29, 2002
EXHIBIT INDEX
99.1
Selected financial results of the registrant for its fiscal quarter ended
May 4, 2002
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
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May 4, 2002 |
May 5, 2001 |
May 4, 2002 |
May 5, 2001 |
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| Net sales |
$1,224,810
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$1,139,957
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$3,482,173
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$3,177,522
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| Cost of goods sold
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682,826
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657,379
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1,949,153
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1,852,046
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| Gross profit |
541,984
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482,578
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1,533,020
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1,325,476
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| Operating expenses |
359,551
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349,512
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1,073,934
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1,004,362
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| Restructuring and impairment charges
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---
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5,200
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---
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5,200
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| Operating profit |
182,433
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127,866
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459,086
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315,914
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| Interest expense,net
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17,419
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23,841
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55,124
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72,365
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| Income before taxes |
165,014
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104,025
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403,962
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243,549
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| Taxes
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62,700
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40,500
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153,800
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94,500
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| Net income
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$102,314
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$63,525
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$250,162
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$149,049
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| Net income per share: | ||||||||
| Basic |
$0.98
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$0.57
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$2.35
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$1.30
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| Diluted |
$0.96
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$0.56
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$2.29
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$1.30
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| Shares outstanding: | ||||||||
| Basic |
103,961
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112,364
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106,264
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114,330
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| Diluted |
106,644
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113,037
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109,015
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114,861
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Selected Balance Sheet Information
(in thousands)
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| Merchandise inventories |
$1,291,189
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$1,214,942
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$1,242,896
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| Current assets |
1,371,977
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1,293,616
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1,328,511
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| Property and equipment, net |
1,691,593
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1,770,310
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1,710,443
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| Total assets |
3,444,247
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3,447,166
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3,432,512
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| Accounts payable |
932,106
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782,007
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945,666
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| Current liabilities |
1,348,016
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1,111,821
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1,266,654
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| Stockholders' equity |
774,915
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889,646
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866,213
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| Debt |
1,251,134
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1,392,729
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1,225,402
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| Working capital |
23,961
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181,795
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61,857
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Selected Cash Flow Information
(in thousands)
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May 4, 2002 |
May 5, 2001 |
May 4, 2002 |
May 5, 2001 |
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| Depreciation and amortization |
$26,404
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$30,451
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$82,497
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$91,694
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| Capital spending |
$41,223
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$44,234
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$81,845
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$137,305
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| Cash flow before share repurchases |
$244,039
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$184,194
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$386,710
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$118,798
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| Share repurchases |
$243,231
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$56,878
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$412,442
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$261,590
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Other Selected Financial Information
(in thousands)
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| Cumulative share repurchases ($): | ||||||
| On balance sheet |
$1,649,182
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$1,132,504
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$1,236,733
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| Forward contracts
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108,789
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130,765
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131,092
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| Total |
$1,757,971
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$1,263,269
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$1,367,825
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| Cumulative share repurchases (shares): | ||||||
| On balance sheet |
55,421
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42,953
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47,162
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| Forward contracts
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1,999
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5,761
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3,894
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| Total |
57,420
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48,714
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51,056
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| Shares outstanding, end of quarter |
102,979
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111,861
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109,408
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