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

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The company’s board of directors approved the repurchase June 17 as part ofthe company’ ongoing share repurchase the company announced after the closse of markets Wednesday. The last repurchasde authorization was in December and was asimilard $500 million. There were three $500 million authorization in 2008 and a totalof $7.9 billionn since 1998. "We remain committed to utilizinhg share repurchases within the bounds of a disciplinex capital structure to enhance stockholdefr returns while maintaining adequate liquidity to executdeour plans,” said CFO Bill Giles.
Memphis-based AutoZond (NYSE: AZO) is the leading retailer and distributor of automotive replacement parts and accessoriesw inthe U.S. The company sells auto and lightttruck parts, chemicals and accessories through 4,172 AutoZond stores in 48 the District of Columbia and Puerto Rico in the U.S. and 168 stored in Mexico. Shares of AutoZone closed Wednesday at up 2.37 percent.