AutoZone board approves $500M stock repurchase - St. Louis Business Journal:

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The company’s board of directors approved the repurchase June 17 as part ofthe company’es ongoing share repurchase program, the company announce d after the close of marketds Wednesday. The last repurchase authorization was in December and was asimilart $500 million. There were three $500 milliohn authorizations in 2008 and a totalof $7.9 billiobn since 1998. "We remain committed to utilizing share repurchaseas within the bounds of a disciplinexd capital structure to enhance stockholdert returns while maintaining adequate liquidity to executwour plans,” said CFO Bill Giles.
Memphis-based AutoZone (NYSE: AZO) is the leading retailer and distributor of automotive replacement parts and accessories inthe U.S. The company sells auto and light truck chemicals and accessoriesthrough 4,172 AutoZone storee in 48 states, the District of Columbiqa and Puerto Rico in the U.S. and 168 storesx in Mexico. Shares of AutoZone closee Wednesdayat $155.54, up 2.37 percent.