Honda Shares Jump as Automaker Forecasts Profit Recovery Despite Historic Loss 
CXMT Forecasts Record Revenue Growth as Global DRAM Prices Surge 
Amazon Faces Class-Action Lawsuit Over Trump Tariff Price Hikes 
YouTube and Snap Settle School District Mental Health Lawsuit Ahead of Major Social Media Trial 
Samsung Faces Major Strike Threat as Union Restarts Pay Talks 
Elliott Targets Bio-Rad as Shares Continue to Struggle 
Samsung Union Talks Enter Final Stage as Strike Threat Looms 
Standard Chartered Appoints Manus Costello as New CFO Amid Leadership Reshuffle 
FTC Antitrust Probe Targets Arm Holdings Over Chip Licensing Practices 
Alphabet Raises Record $3.6 Billion in Yen Bonds to Support AI Expansion 
Thyssenkrupp to Shut Down Indiana Automotive Plant by March 2026 
Elon Musk’s China Influence Faces New Challenges Amid Rising EV Competition 
Samsung Strike Talks Resume as South Korea Weighs Emergency Action 
SoftBank Shares Slide Despite Record Q4 Profit Fueled by OpenAI Investment 
DOJ May Drop Gautam Adani Fraud Charges Amid $10 Billion U.S. Investment Plan 
Alibaba Stock Surges After Strong Q4 Earnings Boosted by AI and Cloud Growth 
US-China Trade Talks Sideline Chip Export Controls as Nvidia China Sales Draw Attention 
MEMPHIS, Tenn., Sept. 22, 2016 -- 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, [email protected] Financial: Brian Campbell, 901-495-7005, [email protected]
