AutoZone Authorizes Additional Stock Repurchase
October 08 2019 - 4:30PM
AutoZone, Inc. (NYSE: AZO) today announced its Board of Directors
authorized the repurchase of an additional $1.250 billion 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 $23.2 billion in share repurchases.
“AutoZone’s continued strong financial performance allows us to
repurchase our stock while maintaining our investment grade credit
ratings,” said Bill Giles, Chief Financial Officer and Executive
Vice President – Finance, 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 August 31, 2019, the
Company had 5,772 stores in 50 states in the U.S., the District of
Columbia, Puerto Rico and Saint Thomas, 604 stores in Mexico and 35
stores in Brazil for a total count of 6,411.
AutoZone is the leading retailer and a leading distributor of
automotive replacement parts and accessories in the Americas. 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. 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 our
commercial customers can make purchases through
www.autozonepro.com. AutoZone does not derive revenue from
automotive repair or installation.
Contact Information:Financial: Brian Campbell
at (901) 495-7005, brian.campbell@autozone.comMedia: David McKinney
at (901) 495-7951, david.mckinney@autozone.com
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