Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The web accounts for 20% of total sales growth for the year.
E-commerce sales continued to grow for AutoZone Inc. in fiscal 2013.
For the fiscal year ended Aug. 31, Auto Zone, No. 129 in the 2013 Internet Retailer Top 500 Guide, reported:
- Web sales of $288.8 million in the 53-week period, an increase of 59.3% from $181.3 million in the 52 weeks of fiscal 2012. AutoZone did not break out the 52-week online sales total for fiscal 2013. E-commerce revenue includes all sales from AutoZone.com, AllData.com, which sells diagnostic and related repair work software, and AutoAnything.com, an online auto parts retailer whose purchase was completed in early 2013.
- Total sales of $9.14 billion, an increase of 6.3% from $8.60 billion. Excluding results from the additional week, sales increased 4.3% from the prior year.
- Domestic comparable-store sales were flat.
- Net income of $1.016 billion, up by about 9.2% from $930.37 million. Excluding the extra week, net income increased 6.7% to $993.1 million.
E-commerce accounted for 3.2% of total sales for the year, compared with 2.1% in fiscal 2012, and accounted for 20% of total sales growth.
Expansion, both global and online, characterized fiscal 2013, CEO William Rhodes told Wall Street analysts on AutoZone’s year-end earnings call last week, according to a transcript of the conference call provided by Seeking Alpha. “We continue to expand our presence in Mexico, and we've opened stores in Brazil with three stores now in operation,” he said. “We are expanding our online offerings in both our traditional AutoZone.com and AutoZonepro.com web sites.” AutoZonepro.com offers parts, tools and manuals to repair professionals. Rhodes did not provide details on web expansion.
For the fourth quarter, AutoZone reported:
- Web sales of $109.8 million in the 17-week quarter, up by 93.6% from $56.7 million in the 16-week fourth quarter of 2012. AutoZone did not break out the 16-week online sales total for the fourth quarter of fiscal 2013. E-commerce revenue includes all sales from AutoZone.com, AllData.com, which sells diagnostic and related repair work software, and Auto Anything, an online auto parts retailer purchased in early 2013.
- Total sales of $3.10 billion for the 17 weeks ended Aug. 31, an increase of 12.0% from $2.76 billion in the 16-week fourth quarter of fiscal 2012. Excluding sales from the additional week, fourth quarter sales were up 5.6%.
- Domestic comparable-store sales increased by 1.0%.
- Net income of $371.2 million, up by 14.7%, from $323.7 million in the same period last year. Excluding the additional week, net income for the quarter increased 7.4% over the previous year's quarter to $347.8 million.
E-commerce accounted for 3.5% of total sales for the quarter, compared with 2.1% in the final quarter of fiscal 2012.
Rhodes attributed online sales growth in the quarter mainly to the addition of AutoAnything.com. “There are great opportunities for e-commerce sales growth on both a business-to-business basis and to individual customers,” Rhodes told analysts. “While these businesses are relatively small for us at just 3.5% of our total sales mix on the quarter, we are experimenting to understand where the most potential exists.”
Citing the “long-term importance of this customer base and the integrated nature of our online and offline” business, beginning in the fourth quarter AutoZone included AutoZone.com sales in its domestic same-store sales numbers, Rhodes said. “We felt this change was warranted as AutoZone.com complements our store walk-in business.”
During the fourth quarter, AutoZone opened 69 stores in the U.S., 21 in Mexico and two in Brazil. As of Aug. 31, the company had 4,836 stores in 49 states, the District of Columbia and Puerto Rico in the U.S., 362 stores in Mexico, and three stores in Brazil for a total store count of 5,201.