AutoZone expands share buyback program
AutoZone directors have increased the company’s share repurchase authorization by $1.5 billion, pushing the total since 1998 to $24.65 billion.
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AutoZone directors have increased the company’s share repurchase authorization by $1.5 billion, pushing the total since 1998 to $24.65 billion.
The expansion in Henderson County will cost $42 million and add 45 jobs over five years.
Memphis-based AutoZone said fourth quarter results included many modern era records, such as a 21.8% increase in same-store sales.
Memphis-based AutoZone is going on a hiring spree, adding more than 20,000 full- and part-time employees.
AutoZone chairman, president and chief executive Bill Rhodes said he's "quite bullish" on the Memphis-based auto-parts retailer's future, despite short-term headwinds from COVID-19.
Memphis-based auto parts retailer has added emergency time off benefit for employees, temporarily suspended share buybacks and restructured borrowing capabilities.
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