AutoZone, Inc. (NYSE:AZO) Q1 2024 Earnings Call Transcript

Bill Rhodes: I think everybody thinks that DIFM is going to grow at these very rapid rates and DIY is going to decline. What we’ve seen over a very significant periods of time is DIY usually grows 3% to 4%, and commercial grows 0.5 point to 1 point faster. I think if you rolled out the next three years, unless there’s some big economic shock or something like COVID, that will probably continue to be the case.

Phil Daniele: Seems appropriate, Seth that you got to ask Bill the last question that he probably gets to answer on these calls. So, before we conclude the call, I’d like to take a moment to reiterate we believe that our industry is in a strong position and our business model is solid. We are excited about our growth prospects for the year, but we will take nothing for granted as we understand that our customers have alternatives. We have exciting plans that should help us succeed for the future, but I want to stress that this is a marathon and not a sprint. As we continue to focus on the basics and strive to optimize shareholder value for the future, we are confident AutoZone will be successful. Lastly, I want to wish everyone a happy and healthy holiday season, and thank you for participating in today’s call.

Operator: Thank you, everyone. This concludes today’s event. You may disconnect at this time, and have a wonderful day. Thank you for your participation.