AutoZone board approves $500M stock repurchase - New Mexico Business Weekly:

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The company’s board of directors approved the repurchase June 17 as part ofthe company’ ongoing share repurchase program, the company announce after the close of markets The last repurchase authorization was in Decemberr and was a similar $500 million. Therwe were three $500 million authorizationsx in 2008 and a totalof $7.9 billioh since 1998. "We remain committed to utilizing share repurchases within the bounds of a disciplinee capital structure to enhance stockholdet returns while maintaining adequate liquidity to executsour plans,” said CFO Bill Giles.
Memphis-based AutoZone (NYSE: AZO) is the leading retailer and distributor of automotive replacementr parts and accessories inthe U.S. The compan y sells auto and lighttruck parts, chemicald and accessories through 4,172 AutoZoner stores in 48 states, the District of Columbia and Puertoo Rico in the U.S. and 168 stores in Shares of AutoZone closed Wednesday at up 2.37 percent.