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8-K - FORM 8-K - AUTOZONE INC | c09763e8vk.htm |
EX-10.2 - EXHIBIT 10.2 - AUTOZONE INC | c09763exv10w2.htm |
Exhibit 99.1
AUTOZONE AUTHORIZES ADDITIONAL STOCK REPURCHASE
Memphis, Tenn. (December 15, 2010) AutoZone, Inc. (NYSE: AZO), today announced its Board
of Directors authorized the repurchase of an additional $500 million of the Companys common stock
in connection with its ongoing share repurchase program. Since the inception of the repurchase
program in 1998, and including the above amount, AutoZones Board of Directors has authorized $9.9
billion.
AutoZones 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 Store Development. 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 November 20, 2010, AutoZone sells auto and light truck parts, chemicals and accessories
through 4,404 AutoZone stores in 48 U.S. states plus the District of Columbia and Puerto Rico and
241 stores in Mexico.
AutoZone is the leading retailer and a leading distributor of automotive replacement parts and
accessories in the United States. Each 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.
AutoZone also sells the ALLDATA brand diagnostic and repair software. On the web AutoZone sells
auto and light truck parts through www.autozone.com, and as part of our commercial sales
program, through www.autozonepro.com.
AutoZone does not derive revenue from automotive repair or installation.
Contact Information:
Media: Ray Pohlman at 866-966-3017, ray.pohlman@autozone.com
Financial: Brian Campbell at 901 495-7005, brian.campbell@autozone.com
Financial: Brian Campbell at 901 495-7005, brian.campbell@autozone.com