MEMPHIS, Tenn., April 30 /PRNewswire/ -- Steve Odland, chairman and chief
executive officer of AutoZone, Inc. (NYSE: AZO), will be making a presentation
at the Lehman Brothers Retail Conference on Tuesday, May 1, 2001, at
9:45 a.m.(EST). Lehman Brothers is providing telephone access to the
presentation by dialing (800) 553-3594 in the U.S. or (303) 804-1806
internationally. The passcode is 1012027. A replay of the presentation will
be available at (800) 625-5288 in the U.S. and (303) 804-1855 internationally
for five days. In addition, supporting slides will be available at
AutoZone.com by clicking "About Us," "Investor Relations," "Presentations."
Final results for AutoZone's third quarter ending May 5, 2001, will be
released after market close on Thursday, May 24, 2001, followed by a
conference call. Based on preliminary results, AutoZone estimates same store
sales in the range of 2-4% for the quarter and is comfortable with the First
Call third quarter consensus estimate of $0.55 per share, compared to $0.50 in
the prior year quarter. In addition, AutoZone has decreased expected store
openings for the year from approximately 175 to a little more than 100, as the
result of increasing the hurdle rate for return on investment.
As of February 10, 2001, AutoZone sells auto and light truck parts,
chemicals and accessories through 2,972 AutoZone stores in 42 states plus the
District of Columbia in the U.S. and 13 AutoZone stores in Mexico. AutoZone
also sells heavy-duty truck parts through 49 TruckPro stores in 15 states, and
automotive diagnostic and repair software through ALLDATA, diagnostic and
repair information through alldatadiy.com, and auto and light truck parts
through AutoZone.com.
Certain statements contained in this press release are forward-looking
statements. These statements discuss, among other things, expected growth,
store development and expansion strategy, and future performance. These
forward-looking statements are subject to risks, uncertainties and
assumptions, including without limitation, competition, product demand,
domestic and international economies, inflation, the ability to hire and
retain qualified employees, consumer debt levels and the weather. Actual
results may materially differ from anticipated results.
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SOURCE AutoZone, Inc.
CONTACT: media, Andrew Burns, 901-495-7313, or financial, Emma Jo
Kauffman, 901-495-7005, both of AutoZone, Inc./