MEMPHIS, Tenn., Apr 20, 2003 /PRNewswire-FirstCall via COMTEX/ -- AutoZone, Inc.
(NYSE: AZO) today announced that its Board of Directors has approved a 10b5-1
plan to continue to repurchase its shares. The plan under Rule 10b5-1 of the
Securities Exchange Act of 1934 allows the Company to repurchase shares under
its current share repurchase authorization at times when it would ordinarily
not be in the market because of blackout periods required by the Securities
laws.
Comparable store sales for the first 8 weeks of the third fiscal quarter
(ending May 10, 2003) are up 3%, with AZ Commercial same store sales up 31%
and retail same store sales flat. Earnings per share for the quarter
currently are expected to range from $1.24 to $1.31 per share.
On May 27, 2003, AutoZone will announce results for the third quarter
ended May 10, 2003. AutoZone will host a one-hour conference call on
May 28, 2003, beginning at 9 a.m. (CDT).
As of February 15, 2003, AutoZone sells auto and light truck parts,
chemicals and accessories through 3,122 AutoZone stores in 44 states plus the
District of Columbia in the U.S. and 41 AutoZone stores in Mexico and also
sells the ALLDATA brand automotive diagnostic and repair software. On the
web, AutoZone sells diagnostic and repair information through
www.alldatadiy.com, and auto and light truck parts through www.autozone.com.
Certain statements contained in this press release are forward-looking
statements. These statements discuss, among other things, estimates of
financial results, business strategies and future performance. These forward-
looking statements are subject to risks, uncertainties and assumptions,
including, without limitation, accuracy of estimates, competition, product
demand, the economy, inflation, gasoline prices, consumer debt levels, war and
the prospect of war, including terrorist activity, weather, and availability
of commercial transportation. Actual results may materially differ from
anticipated results. Please refer to the Risk Factors section of AutoZone's
Form 10-K for the fiscal year ended August 31, 2002, for more information
related to those risks. AutoZone undertakes no obligation to publicly release
any revisions to any forward-looking statements contained in this press
release to reflect events or circumstances occurring after the date of this
release or to reflect the occurrence of unanticipated events.
SOURCE AutoZone, Inc.
Media, Ray Pohlman, +1-901-495-7962, ray.pohlman@autozone.com;
or Financial, Brian Campbell, +1-901-495-7005, brian.campbell@autozone.com,
both of AutoZone
http://www.autozone.com