MEMPHIS, Tenn., Apr 14, 2004 /PRNewswire-FirstCall via COMTEX/ -- AutoZone, Inc.
(NYSE: AZO), today announced it completed the purchase of selected assets of
ABC Discount Auto Parts located in Southern New Jersey and Eastern
Pennsylvania. The asset purchase of 12 stores, previously owned by Lou and
Carla Fishman, fits perfectly with AutoZone's desire to develop market areas
through asset acquisitions where the company currently is under-penetrated.
Mr. Fishman noted, "I am pleased to transition my family's business to
AutoZone as well as provide an employment opportunity to my staff. Started in
1957, ABC has grown to be a leader in the community, and we are excited to
further that leadership with AutoZone."
Michael Archbold, AutoZone's Chief Financial Officer stated, "This is a
great opportunity for us to grow in the Philadelphia and New Jersey markets
with the addition of these stores."
As of February 14, 2004, AutoZone sells auto and light truck parts,
chemicals and accessories through 3,299 AutoZone stores in 48 states plus the
District of Columbia in the U.S. and 55 AutoZone stores in Mexico and also
sells the ALLDATA brand diagnostic and repair software. On the web, AutoZone
sells diagnostic and repair information 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, business strategies
and future performance. These forward-looking statements are subject to
risks, uncertainties and assumptions, including, without limitation,
competition, product demand, the economy, inflation, gasoline prices, consumer
debt levels, war and the prospect of war, including terrorist activity, and
the 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 30, 2003, 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.
Financial, Brian Campbell, +1-901-495-7005, or
brian.campbell@autozone.com, or Media, Ray Pohlman, +1-901-495-7962, or
ray.pohlman@autozone.com, both of AutoZone, Inc.
http://www.autozone.com