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AutoZone is pushing forward with a major store expansion even as higher prices continue to affect the auto industry.

The company opened 53 new stores in the quarter ending Nov. 22, strengthening its presence in the US, Mexico, and Brazil.

The move shows that AutoZone is focused on growth, even while inflation and tariffs create challenges.

The company opened 39 stores in the United States, along with 12 in Mexico and two in Brazil, bringing its worldwide total to 7,710 stores, GuruFocus reported.

AutoZone now operates 6,666 stores in the US, 895 in Mexico, and 149 in Brazil.

CEO Phil Daniele said the company's performance remained solid, noting, "Our domestic and international businesses performed well throughout the quarter as we continue to execute on our growth initiatives."

Daniele also said AutoZone plans to "aggressively open stores" throughout the rest of the fiscal year.

He explained that store growth is important because it helps the company reach more customers and gain market share.

AutoZone sells replacement auto parts and accessories for all types of cars and trucks, and many drivers rely on the retailer for repairs.

AutoZone Says Inflation Keeps Prices Up

Still, inflation remains a major hurdle. Daniele said tariffs and higher costs pushed prices up across the business.

According to FoxBusiness, he expects inflation to stay high through the company's third quarter, adding that increases may "be a little bit less muted" by the summer.

Many of the biggest price jumps came from items that people choose to buy, not essential repair parts. Those categories struggled in the past few years but have now leveled out.

AutoZone shoppers have also felt pressure. Daniele said lower-income customers have been under strain "for quite some time," but he noted that the group has stayed relatively steady.

He added that AutoZone has not seen a lot of customers "trading down" to cheaper products because most items only come in one version for each vehicle.

"There's not a whole lot of upsell opportunities," he said, though the company does offer different price levels for items like batteries and brakes.