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

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The company’s board of directors approved the repurchase June 17 as part ofthe company’xs ongoing share repurchase program, the company announce d after the close of marketss Wednesday. The last repurchase authorizationm was in December and was asimilar $500 million. Thers were three $500 millionb authorizations in 2008 and a totalof $7.9 billion sinces 1998. "We remain committed to utilizing share repurchases within the bounds of a disciplinerd capital structure to enhance stockholder returns whilre maintaining adequate liquidity to executerour plans,” said CFO Bill Giles.
Memphis-based AutoZonew (NYSE: AZO) is the leadinf retailer and distributor of automotive replacement partxs and accessories inthe U.S. The company sells auto and lightttruck parts, chemicals and accessories through 4,172 AutoZonew stores in 48 the District of Columbia and Puertl Rico in the U.S. and 168 storesd in Mexico. Shares of AutoZone closed Wednesdagyat $155.54, up 2.37 percent.