AutoZone Boosts Share Repurchase Program with New Authorization
AutoZone's Strategic Move in Stock Repurchase Program
AutoZone, Inc. (NYSE: AZO) has made headlines with its recent decision to authorize an additional $1.5 billion in share repurchases. This action highlights the company’s commitment to delivering value to its shareholders while reinforcing its disciplined capital allocation strategy. Since the launch of its share repurchase program back in 1998, AutoZone has now authorized a staggering total of $40.7 billion in shares repurchased.
Insight from Leadership
The announcement comes accompanied by insights from AutoZone's Chief Financial Officer, Jamere Jackson. He stated, “Our disciplined capital allocation approach gives us the ability to generate strong free cash flow, invest in growth, and increase our share buyback authorization while maintaining investment grade credit ratings.” This reflects a robust financial strategy aimed at sustaining operational excellence while rewarding investors.
Growing Visibility and Market Presence
As of late August, AutoZone boasted an impressive footprint with 6,627 stores in the United States, along with 883 locations in Mexico and 147 in Brazil, culminating in an extensive total of 7,657 stores across North America. This growth underlines AutoZone's dominant position in the automotive parts retail market as a leading provider of replacement parts and accessories in the Americas.
Product Range and Services
Each AutoZone store showcases a vast array of products tailored for various types of vehicles including cars, sport utility vehicles, vans, and light-duty trucks. Their inventory comprises both new and remanufactured automotive hard parts, vital maintenance items, numerous accessories, and even non-automotive products. This wide-ranging selection ensures that customers are well-served regardless of their vehicle maintenance needs.
Commitment to Commercial Clients
A significant portion of AutoZone's business includes a robust commercial sales program designed for a swift delivery of parts and products. They offer commercial credit to local, regional, and national automotive repair facilities, dealers, service stations, fleet owners, and numerous other accounts, making it an integral partner for many in the automotive repair industry.
Online Presence and Innovative Solutions
AutoZone has not only established a strong physical presence but also thrives in the digital space. Automotive hard parts, maintenance items, and accessories are readily available via www.autozone.com, enhancing convenience for everyday consumers. Their commercial customers also benefit from a streamlined purchasing experience at www.autozonepro.com. AutoZone also markets the ALLDATA brand, offering automotive diagnostic and repair software solutions through www.alldata.com, while details about their Duralast branded products can be found at www.duralastparts.com.
Contact Information for Inquiries
For more information, AutoZone’s financial inquiries can be directed to Brian Campbell at 901-495-7005 or via email at brian.campbell@autozone.com. Media inquiries can be addressed to Jennifer Hughes at 901-495-6022 or jennifer.hughes@autozone.com.
Frequently Asked Questions
What is AutoZone's recent stock repurchase authorization amount?
AutoZone has authorized an additional $1.5 billion for its stock repurchase program.
How much has AutoZone authorized for share repurchases since 1998?
The total authorized for share repurchases since 1998 has reached $40.7 billion.
What does AutoZone do?
AutoZone is a leading retailer and distributor of automotive replacement parts and accessories in the Americas.
Where can I purchase AutoZone products online?
Products can be purchased online at www.autozone.com and through www.autozonepro.com for commercial customers.
Who can I contact for financial inquiries at AutoZone?
For financial inquiries, contact Brian Campbell at 901-495-7005 or by email at brian.campbell@autozone.com.
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