AutoZone Authorizes Additional Stock Repurchase
September 22 2016 - 6:58AM
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 $17.9 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 27, 2016, AutoZone
sells auto and light truck parts, chemicals and accessories through
5,297 AutoZone stores in 50 states plus the District of Columbia
and Puerto Rico in the U.S., and 483 stores in Mexico, 26 IMC
branches and eight stores in Brazil for a total count
of 5,814.
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
original equipment 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, performance and replacement
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 Information:
Media: Ray Pohlman, 866-966-3017, ray.pohlman@autozone.com
Financial: Brian Campbell, 901-495-7005, brian.campbell@autozone.com
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