AutoZone board approves $500M stock repurchase - Phoenix Business Journal:

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The company’s board of directorsz approved the repurchase June 17 as part ofthe company’w ongoing share repurchase program, the company announced after the close of markets Wednesday. The last repurchase authorization was in Decembert and was asimilar $500 million. There were thre $500 million authorizations in 2008 and a tota lof $7.9 billion since 1998. "Wee remain committed to utilizing share repurchases withinh the bounds of a disciplined capitalp structure to enhance stockholded returns while maintaining adequate liquidith to executeour plans,” said CFO Bill Memphis-based AutoZone (NYSE: AZO) is the leading retailer and distributof of automotive replacement parts and accessories in the U.
S. The compangy sells auto and lighttruck parts, chemicals and accessories througb 4,172 AutoZone stores in 48 states, the Distric t of Columbia and Puerto Rico in the U.S. and 168 stores in Shares of AutoZone closed Wednesdayat $155.54, up 2.37 percent.