Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  AutoZone, Inc.    AZO

AUTOZONE, INC.

(AZO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Trump meets with retail CEOs to talk taxes, imports

share with twitter share with LinkedIn share with facebook
share via e-mail
02/15/2017 | 03:36pm EDT
FILE PHOTO: Then U.S. President-elect Donald Trump speaks at his election night rally in Manhattan, New York

WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday called tax code revisions a critical way to boost the nation's economy as he kicked off a White House meeting with chief executive officers of Target Corp (>> Target Corporation), Best Buy Co Inc (>> Best Buy Co Inc) and six other major retailers.

WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday called tax code revisions a critical way to boost the nation's economy as he kicked off a White House meeting with chief executive officers of Target Corp (>> Target Corporation), Best Buy Co Inc (>> Best Buy Co Inc) and six other major retailers.

The retailers spoke with Trump about an overhaul of the corporate tax law and infrastructure improvements. While companies like Best Buy and Target support changes to the tax code, they urged Trump to oppose a proposal for a new border tax on imported goods.

The border tax is among sweeping changes proposed by the Republican-controlled House of Representatives. Convincing Trump to oppose the measure would probably bring an end to it.

Trump had said on Thursday that he would announce his own "phenomenal" tax plan in the coming weeks. U.S. stocks hit record intraday highs, and the U.S. dollar and bond yields rose.

At Wednesday's meeting, Trump said work on a tax plan was going "really well" but gave no details except to say it would simplify the tax code.

The meeting included Target's Brian Cornell, Best Buy's Hubert Joly, Gap Inc's (>> Gap Inc) Art Peck, Autozone Inc's (>> AutoZone, Inc.) William Rhodes, Walgreens Boots Alliance Inc's (>> Walgreens Boots Alliance Inc) Stefano Pessina, J.C. Penney Co Inc's (>> J C Penney Company Inc) Marvin Ellison, Jo-Ann Stores' Jill Soltau and Tractor Supply Co's (>> Tractor Supply Company) Gregory Sandfort.

“We stressed the importance of taking a thoughtful approach to tax reform for both individuals and corporations," Rhodes said after the meeting.

The group also met with the heads of the two tax-writing congressional committees, Kevin Brady, chairman of the House Ways and Means Committee, and Senator Orrin Hatch, chairman of the Senate Finance Committee.

Brady and House Speaker Paul Ryan are leading the push to cut the corporate income tax to 20 percent from 35 percent, impose a 20 percent tax on imports and exclude export revenue from taxable income.

Companies that rely heavily on imports, such as retailers, automakers and refiners, say House Republicans' border tax would outweigh the benefit of a lower headline corporate tax. Critics also say the tax would lead to higher consumer prices for imported products.

Trump has voiced some concern about the House tax proposal, calling it "too complicated." But the White House also has said a border tax on goods from Mexico is one option under review to pay for a wall along the nation's southern border.

"Tax reform is one of the best opportunities to influence our economy," Trump said in brief opening remarks that included no mention of the border tax idea.

The prospect of a big import tax is also pitting large U.S. companies against one another. A group of major exporters, including Boeing Co (>> Boeing Co), General Electric Co (>> General Electric Company) and Pfizer Inc (>> Pfizer Inc.), has formed a coalition to support the import tax.

(Reporting by Ginger Gibson, additional reporting by Emily Stephenson; Editing by Lisa Von Ahn and Lisa Shumaker)

By Ginger Gibson

Stocks mentioned in the article
ChangeLast1st jan.
AUTOZONE, INC. 0.03% 1147.86 Delayed Quote.-3.67%
GENERAL ELECTRIC COMPANY -3.10% 6.57 Delayed Quote.-41.13%
THE LEAD CO., INC. -2.37% 412 End-of-day quote.5.64%
WALGREENS BOOTS ALLIANCE, INC. 2.65% 42.94 Delayed Quote.-29.05%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on AUTOZONE, INC.
05/26AUTOZONE : Fiscal 3Q Earnings Snapshot
AQ
05/26AUTOZONE INC : Results of Operations and Financial Condition, Financial Statemen..
AQ
05/26AutoZone 3rd Quarter Same Store Sales Decrease 1.0%; EPS Decreases 10.0% to $..
GL
05/21AUTOZONE, INC. : quaterly earnings release
04/28AutoZone to Release Third Quarter Earnings May 26, 2020
GL
04/07AUTOZONE INC : Entry into a Material Definitive Agreement, Creation of a Direct ..
AQ
04/07AutoZone Announces Actions In Response To COVID-19
GL
03/30AUTOZONE INC : Entry into a Material Definitive Agreement, Creation of a Direct ..
AQ
03/26AUTOZONE INC : Other Events (form 8-K)
AQ
03/17AUTOZONE : Management's Discussion and Analysis of Financial Condition and Resul..
AQ
More news
Financials (USD)
Sales 2020 11 931 M - -
Net income 2020 1 495 M - -
Net Debt 2020 5 050 M - -
P/E ratio 2020 18,6x
Yield 2020 -
Capitalization 26 800 M 26 800 M -
EV / Sales 2019
EV / Sales 2020 2,67x
Nbr of Employees 75 840
Free-Float 98,8%
Chart AUTOZONE, INC.
Duration : Period :
AutoZone, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AUTOZONE, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 1 236,37 $
Last Close Price 1 147,86 $
Spread / Highest target 23,3%
Spread / Average Target 7,71%
Spread / Lowest Target -14,6%
EPS Revisions
Managers
NameTitle
William C. Rhodes Chairman, President & Chief Executive Officer
William T. Giles CFO, EVP-Finance & Information Technology
Ronald B. Griffin Chief Information Officer & Senior Vice President
Earl G. Graves Lead Independent Director
George Ralph Mrkonic Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AUTOZONE, INC.-3.67%26 800
O'REILLY AUTOMOTIVE, INC-4.80%30 970
COPART, INC.-1.70%20 987
CARMAX, INC.0.43%14 316
ZHONGSHENG GROUP HOLDINGS LIMITED24.76%11 663
ADVANCE AUTO PARTS, INC.,-13.01%9 589