AZO - Why AutoZone Stock Soared 77% in 2021
Shares of auto motive aftermarket parts retailer Auto Zone (NYSE: AZO) skyrocketed 77% in 2021, according to data provided by S&P Global Market Intelligence . This crushed the broader S&P 500 , which still gained a commendable 27% for the year. Auto Zone benefited from strong industry momentum that carried over from calendar 2020.
Demonstrating its all-weather appeal, Auto Zone had a remarkable year in fiscal 2021 (ended Aug. 28, 2021). Revenue and profit jumped 15.8% and 25.5%, respectively, year over year. And the operating margin exceeded 20% for the first time in at least 15 years. Auto Zone continu es to benefit from the strong economy, and in particular the high prices for both new and used vehicles. This trend encourages consumers to extend the life of their existing cars, driving demand for Auto Zone's products and services.
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Why AutoZone Stock Soared 77% in 2021