AutoZone Inc is a Memphis, Tennessee based merchant of aftermarket automobile components and accessories. It is the largest retailer in the US and is a component of both the S&P 500 and Russell 1000 indexes. As of 2020, it had more than 6000 stores
AutoZone Inc is a Memphis, Tennessee based merchant of aftermarket automobile components and accessories. It is the largest retailer in the US and is a component of both the S&P 500 and Russell 1000 indexes. As of 2020, it had more than 6000 stores across the US, Mexico, Brazil and Puerto Rico. It also had a workforce of over 85,000 employees spread across four continents.
Though the company was founded in 1979, its origin dates back to the beginning of 1970s when it was merely a franchise of the wholesale grocer Malone & Hyde. The grocery business was then sold off to the Fleming Companies of Oklahoma City, Oklahoma and its newfound focus was on the automobile industry.
On 4th July 1979, its first store was inaugurated in Forrest City, Arkansas under the name Auto Shack. By 1985 it had around 263 stores across 14 states that increased to 459 stores across 16 states within two years. 1987 was also the year Auto Shack officially changed to AutoZone and introduced an electronic catalogue called “What it takes to do the job right” Or WITTDJR.
Soon after in 1991, it entered the NYSE with the ticker symbol AZO, with an opening bid of $27.50. AutoZone was also the first automotive parts retailer to initiate registration of customer warranties in a computerised database in 1991.
By the end of the decade, it had started utilising satellite technology, started its website, bought more than 100 Express stores, opened stores in Mexico and acquired businesses like Auto Palace, TruckPro, Chief Auto Parts Inc. etc. It also entered the Fortune 500 list at the end of the decade in 1999.
In 2003, it partnered with several leading automotive companies like CarMax and Midas. As of 2020, the company has numerous partnered brands from the automobile industry, such as Castrol, Peak, Prestone Antifreeze, Mobile 1, etc.
At AutoZone stores it offers products including accessories for the interior and exterior of a vehicle, repairing tools, replacement parts, fuel, car oil and chemicals. It also offers gift cards, vouchers and coupons to its customers and services like Loan-A-Tool, vehicle repair etc. It has also introduced a mobile app for a more convenient AutoZone experience and has an employment program to help both veterans and active duty US military.
As of 2020, it has four private labels named Duralast, Duralast Gold, Valucraft and Duralast Platinum. It has also sponsored NASCAR in 2004 and two of its racers - Timothy Peters and Kevin Harvick in 2007 NASCAR Busch Series.
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