AutoZone Authorizes Additional Stock Repurchase
March 24 2015 - 4:05PM
AutoZone, Inc. (NYSE:AZO), today announced its Board of Directors
authorized the repurchase of an additional $750 million of the
Company's common stock in connection with its ongoing share
repurchase program. Since the inception of the repurchase program
in 1998, and including the above amount, AutoZone's Board of
Directors has authorized $15.7 billion.
"AutoZone's continued strong financial performance allows us to
repurchase our stock while maintaining our investment grade credit
ratings," said Bill Giles, Executive Vice President, Chief
Financial Officer, Information Technology and ALLDATA. "We remain
committed to utilizing share repurchases within the bounds of a
disciplined capital structure to enhance stockholder returns while
maintaining adequate liquidity to execute our plans."
About AutoZone:
As of February 14, 2015, AutoZone sells auto and light truck
parts, chemicals and accessories through 5,042 AutoZone stores in
49 states, the District of Columbia and Puerto Rico in the U.S.,
411 stores in Mexico, 18 IMC branches, and five stores in Brazil
for a total count of 5,476.
AutoZone is the leading retailer and a leading distributor of
automotive replacement parts and accessories in the United States.
Each AutoZone store carries an extensive product line for cars,
sport utility vehicles, vans and light trucks, including new and
remanufactured automotive hard parts, maintenance items,
accessories, and non-automotive products. Many stores also have a
commercial sales program that provides commercial credit and prompt
delivery of parts and other products to local, regional and
national repair garages, dealers, service stations, and public
sector accounts. IMC branches carry an extensive line of OE quality
import replacement parts. AutoZone also sells the ALLDATA brand
diagnostic and repair software through www.alldata.com.
Additionally, we sell automotive hard parts, maintenance items,
accessories, and non-automotive products through www.autozone.com,
and accessories and performance parts through www.autoanything.com,
and our commercial customers can make purchases through
www.autozonepro.com and www.imcparts.net. AutoZone does not derive
revenue from automotive repair or installation.
CONTACT: Media:
Ray Pohlman
866-966-3017
ray.pohlman@autozone.com
Financial:
Brian Campbell
901 495-7005
brian.campbell@autozone.com
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