AutoZone, Inc. (NYSE:AZO) Q2 2023 Earnings Call Transcript

Atul Maheswari: Got it. It makes sense. Thank you for that. And then as a quick follow-up, I know you talked about tax refunds, but how are you thinking about near-term trends given some of the data source that tax refunds are lower year-over-year and then there’s potentially some headwinds from Snap as well?

Bill Rhodes: Yeah. Look, we have never talked about Snap. I don’t think that that’s a big part driver for our business. The data we have available to us shows that tax refunds are remarkably similar to the way they were last year and are slightly up. We look at that data, it usually comes out on Mondays and we see where the big drops happened last week. Last week was a big drop as it was last year on tax refunds. So as far as we are concerned, we see everything on track, we are hoping that we get some great weather that’s very conducive to DIY and that those customers come to us.

Atul Maheswari: Thank you. Good luck to the rest of the year.

Bill Rhodes: Thank you very much.

Jamere Jackson: Thanks.

Bill Rhodes: Well, before we conclude

Operator: Your next question

Bill Rhodes: Sorry, I thought you were — I will go ahead. Before we conclude the call, I want to take a moment to reiterate, we believe 2023 will continue to be a solid year for our industry and our business model is working. We must take nothing for granted as we understand our customers have alternatives to shopping with us. 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 continue to be successful. Thank you for participating in today’s call. Have a great day.

Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.