SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________
Form 8-K

 
Current Report Pursuant

to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

 
December 6, 1999

Date of Report

(Date of earliest event reported)

 

 
AUTOZONE, INC.

(Exact Name of Registrant as Specified in Its Charter)


 

 

 

 

123 South Front Street

Memphis, Tennessee 38103

(Address of Principal Executive Offices)(Zip Code)

 
(901) 495-6500

(Registrant's Telephone Number, Including Area Code)

 
(Not applicable)

(Former name or former address, if changed since last
report.)




Item 5. Other Events.
        On December 6, 1999, AutoZone,
Inc., made the announcement attached as Exhibit 99.1 to this Current Report.

 
Item 7. Financial Statements and Exhibits
(c) Exhibits

 
        99.1    
Press Release dated December 6, 1999

 



SIGNATURES
            Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.

 
                                          
                                          
             
AUTOZONE, INC.

 
Date: December 7, 1999                                      
                          
By: /s/ Robert J. Hunt

                                          
                                          
                         
Robert J. Hunt

                                          
                                          
                         
Executive Vice President

                                          
                                          
                         
& Chief Financial Officer



EXHIBIT INDEX




            99.1        
Press Release dated September 29, 1999

 





EXHIBIT
99.1
(AUTOZONE(R) Logo)
123 South Front Street ·
Memphis, TN ·
38103-3607 ·
(901) 495-6500 ·
Fax: (901) 495-8300

 



Nevada

(State or Other Jurisdiction

of Incorporation)



1-10714 

(Commission File Number) 



62-1482048

(I.R.S. Employer 

Identification No.)














AUTOZONE'S 1st QUARTER SALES UP 12% TO $1 BILLION;

EPS UP 18% TO $.40
Memphis, Tenn (December 6, 1999) -- AutoZone, Inc.  (NYSE: AZO),
today reported net income for the 12 weeks ended November 20, 1999, of
$56.0 million, an increase of 9% from $51.3 million for the fiscal first
quarter of 1999.  Diluted earnings per share increased 18% to 40 cents
from 34 cents.
Sales for the quarter rose 12% to $1.006 billion from $901 million a
year earlier. Total comparable store sales, or sales at stores opened prior
to the start of fiscal 1999, rose 7%. Comparable store sales for core AutoZone
stores increased 5% for the quarter, while comparable store sales increased
27% at the former Auto Palace stores and 24% at the former Chief stores.
"We're very pleased with the results of our first distraction-free quarter
since we began our aggressive acquisition schedule and with how quickly
our acquired stores have come to understand the importance of our culture,"
said John C. Adams Jr., chairman and chief executive officer. "This shows
what can happen when we're able to direct our energy on the core business
and fully focus on customer service."
During the quarter, AutoZone opened 87 new auto parts stores in the
U.S. and two in Mexico. In addition, 13 AutoZone stores and one TruckPro
store were replaced. Two Chief stores were closed.
Also during the quarter, the company repurchased $152 million of its
common stock. Cumulative share repurchases to date, including forward commitments,
are $475 million and 18 million shares.
AutoZone sells auto and light truck parts, chemicals and accessories
through 2,796 AutoZone stores in 40 states in the U.S. and eight AutoZone
stores in Mexico.  AutoZone also sells heavy-duty truck parts through
46 TruckPro stores in 14 states, automotive diagnostic and repair software
through ALLDATA and diagnostic and repair information through alldatadiy.com.
Certain statements contained in this press release are forward-looking
statements. These statements discuss, among other things, expected growth,
domestic and international development and expansion strategy, business
strategies and future performance. These forward-looking statements are
subject to risks, uncertainties and assumptions, including without limitation,
competition, product demand, domestic and international economies, government
approvals, inflation, the ability to hire and retain qualified employees,
consumer debt levels and the weather.  Actual results may materially
differ from anticipated results. Please refer to the Risk Factors section
of Form 10-K for the year ended August 28, 1999, for more details.



AUTOZONE FISCAL 1st QUARTER FINANCIAL HIGHLIGHTS

(In Thousands, Except Per-Share Data)
 


News:

For Immediate Release


Financial Contact: Emma Jo Kauffman

(901) 495-7005





Media contact: Eric Epperson

(901) 495-7307










 

 


 


12 Weeks Ended

November 20, 1999



12 Weeks Ended

November 21, 1998




Net sales


$1,006,472



$900,949




Gross profit


$421,516



$376,482




Operating profit


 $105,748



$ 89,815




Income before income taxes


$91,144



$ 81,300




Net income 


$56,044



$ 51,300




Net income per share:







         Basic


$0.40 



 $0.34




         Diluted 


 $0.40 



$0.34




Weighted average shares: 







         Basic  


139,261



150,762




         Diluted


140,056



151,568