AutoZone Authorizes Additional Stock Repurchase
October 07 2015 - 5:15PM
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 $16.4 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 August 29, 2015, AutoZone sells auto and light truck
parts, chemicals and accessories through 5,141 AutoZone stores in
49 states in the U.S., the District of Columbia and Puerto Rico,
441 stores in Mexico, 20 IMC branches, and seven stores in Brazil
for a total count of 5,609.
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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