MEMPHIS, Tenn., June 9 /PRNewswire/ -- John C. Adams Jr., chairman and
chief executive officer of AutoZone, Inc. (NYSE: AZO), announced that the
AutoZone board of directors, at a regularly scheduled board meeting, approved
the repurchase of up to $150 million of the company's common stock in the open
market.
This is in addition to the $100 million approved repurchase announced
in January, 1998, and the $150 million approved repurchase announced in
October, 1998.
As previously announced, as of May 8, 1999, AutoZone had repurchased
$159.8 million worth of its common stock.
AutoZone sells auto and light truck parts, chemicals and accessories
through 2,695 AutoZone and Chief stores in 39 states in the U.S. and 4
AutoZone stores in Mexico.
Chief stores are being converted to AutoZone
stores. AutoZone also sells heavy-duty truck parts through 43 TruckPro stores
in 14 states, and automotive diagnostic and repair software through ALLDATA.