AutoZone Authorizes Additional Stock Repurchase
October 05 2021 - 4:05PM
AutoZone, Inc. (NYSE: AZO), today announced its Board of Directors
authorized the repurchase of an additional $1.5 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 $27.65 billion in share repurchases.
“AutoZone’s continued strong financial performance allows us to
grow our business, return meaningful amounts of cash to our
shareholders and maintain our investment grade credit ratings,”
said Jamere Jackson, Chief Financial Officer and Executive Vice
President – Finance, and Store Development. “We remain committed to
our disciplined capital allocation policy to drive growth and
enhance shareholder returns while maintaining adequate
liquidity.”
About AutoZone:AutoZone, Inc. is the
leading retailer, and a leading distributor, of automotive
replacement parts and accessories in the Americas. We began
operations in 1979 and at August 28, 2021, operated 6,051
stores in the United States, 664 stores in Mexico and 52 stores in
Brazil. 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. At August 28, 2021,
in 5,179 of our domestic stores, we also had 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. We
also have commercial programs in all stores in Mexico and Brazil.
We also sell the ALLDATA brand automotive diagnostic, repair and
shop management 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. We also provide product information on our
Duralast branded products through www.duralastparts.com. We do not
derive revenue from automotive repair or installation services.
Contact Information:
Media: David McKinney,
901-495-7951, david.mckinney@autozone.com
Financial: Brian Campbell,
901-495-7005, brian.campbell@autozone.com
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