AutoZone: Difference between revisions

{{Short description|AutomotiveAmerican Partsautomotive Companyparts company}}

| image_caption = AutoZone headquartersHeadquartersin[[Memphis, Tennessee]]

| type = [[Public company|Public]]

| foundationfounded = {{startStart date and age|1979|7|4}} (as Auto Shack)<br />[[Forrest City, Arkansas]], U.S.

| locationhq_location = [[Memphis, Tennessee]], U.S.

| locations = 67,003140 (2023)

* [[Brazil]] (since 2012)

* [[Mexico]] (since 1998)

| key_people = {{nowrap|Pitt Hyde}}<br />{{nowrap|([[Entrepreneur|Founder]])}}<br />{{nowrap|[[William C. Rhodes (businessman)|William C. RhodesPhil IIIDaniele]]}}<br />{{nowrap|([[Chairman]], [[President (corporate title)|President]], & [[CEO]])}}<br />{{nowrap|Jamere Jackson}}<br />{{nowrap|([[Chief financial officer|CFO]])}}

| operating_income = {{increase}} [[US$]]23.417474 Billionbillion (''Fiscal Year Ended August 29, 2020''2023)<ref name=AnnualR2020 />

| net_income = {{increase}} [[US$]]12.732528 Billionbillion (''Fiscal Year Ended August 29, 2020''2023)<ref name=AnnualR2020 />

| assets = {{increase}} [[US$]]1415.42399 Billionbillion (''Fiscal Year Ended August 29, 2020''2023)<ref name=AnnualR2020 />

| equity = {{increasedecrease}} -[[US$]]877–4.97735 Millionbillion (''Fiscal Year Ended August 29, 2020''2023)<ref name=AnnualR2020 />

| num_employees = ~87{{circa|119,000}}

| num_employees_year = 2017August 2023

| footnotes = Financials {{asof|2023|08|26|lc=y|df=US}}.<ref name="10-K Aug 20172023">{{cite web |url=https://www.sec.gov/Archives/edgar/data/866787/000119312517319357000155837023016668/d447746d10kazo-20230826x10k.htm | title=US SEC: Form 10-K AutoZone, Inc. |publisher=[[United States Securities and Exchange Commission]] |date=October 2524, 20172023}}</ref>

'''AutoZone, Inc.''' is an American retailer of [[Aftermarket (automotive)|aftermarket]] [[automotive parts]] and accessories, the largest in the United States.<ref name="10-K Aug 2017"/> Founded in 1979, AutoZone has over 67,400140 stores across the United States, Mexico, Puerto Rico, Brazil and the US Virgin Islands. The company is based in [[Memphis, Tennessee]].<ref name="10-K Aug 20172023"/><ref name="Autozone Commercial Appeal March 2020">{{cite web | url=https://www.commercialappeal.com/story/news/2020/03/09/autozone-co-founder-former-president-peter-formanek-dies-obituary/4999180002/ | title=AutoZone co-founder, former president Peter Formanek has died | work=Memphis Commercial Appeal | date=9 March 2020|access-date=March 16, 2020}}</ref>

In 1981, Express Parts or VDP iswas implemented to get the customers hard to find parts by special ordering them through wholesalers. TotalThe total stores waswere 73 in 7 states.

In 1984, the company became the first auto parts retailer to create a quality control program for its parts. Total stores waswere 194 in 13 states.

In 1985, Doc Crain coined the term WITTDTJR, which stands for "What it takes to do the job right." TotalThe total store count is 263 in 14 states. Peter Formanek stepped in as president. He oversaw the auto parts firm's daily operations and worked on growth strategy.<ref name="Autozone Commercial Appeal March 2020"/>

By 1986, expansion had made the company grow into a large store chain across the South and the Midwest. That year, Darren Reltherford, manager of Auto Shack's [[Memphis, Tennessee]] store, received the first ''Extra Miler'' award, which has since been given to AutoZoners who show their dedication to customer satisfaction by "going the extra mile" for customer service. The Duralast line of alternators and starters iswas released. The Loan-A-Tool program began allowing customers to borrow specific tools for jobs. The fourth distribution center in Greenville, South Carolina opened. The total number of stores was 339 in 15 states.

[[File:AutoAutoZone Zonestore signin Murphy, North Carolina.JPGjpg|thumb|AutoZone store sign in [[PhoenixMurphy, ArizonaNorth Carolina]]]]

In 1987, Auto Shack officially changed its name to AutoZone.<ref name=fortune/> The first AutoZone store was in [[Enid, Oklahoma]]. That year also, the company introduced WITT-JR, an electronic catalog used to look up parts and keep warranty information. TotalThe total number of stores is nowwas 459 in 16 states.

In 1989, the company began using a computerized store management system (SMS). The Duralast battery line is released consisting of Sub-Zero, Desert, and long life was released. TotalThe total number of stores iswas 513 in 17 states.

In 1991, its stock began trading on the [[New York Stock Exchange]] using the ticker symbol "AZO."<ref name=fortune/> It opened up at $27.50 a share. The 5thfifth DC opens in [[Lafayette, Louisiana]]. The company also became the first auto parts retailer to register customer warranties in a computer database.

In 1998,<ref name="AutoZone-Jun-1998-10-Q">{{cite web|url=http://edgar.secdatabase.com/1868/86678798000013/filing-main.htm |title=AutoZone, Form 10-Q, Quarterly Report, Filing Date Jun 23, 1998 |publisher=secdatabase.com |access-date =Jan 18, 2013}}</ref><ref name="AutoZone-Jul-1998-8-K">{{cite web|url=http://edgar.secdatabase.com/1518/101190898000003/filing-main.htm |title=AutoZone, Form 8-K, Current Report, Filing Date Jul 2, 1998 |publisher=secdatabase.com |access-date =Jan 18, 2013}}</ref> AutoZone acquired ADAP Inc., Whowho had stores under the ADAP Discount Auto Parts and Auto Palace nameplates respectively,<ref>{{Cite web|url=http://www.brianzpatton.com/HotWheels/1992/1992%20OM-Auto%20Palace.htm|title=1992 Auto Palace Hauler - Brian Z. Patton}}</ref> both being auto parts chains in the northeastern United States with 112 stores,<ref name=prn1998jan14>{{cite news |url=http://www.thefreelibrary.com/AutoZone+To+Acquire+Auto+Palace-a020163425 |title=AutoZone To Acquire Auto Palace |newspaper=[[PRNewswire]] |date=January 14, 1998}}</ref><ref name=ac1998feb>{{cite news |url=http://www.theautochannel.com/publications/magazines/amb/feb-98/retail.frame |title=AutoZone continues growth with Auto Palace purchase |website=[[The Auto Channel]] |date=February 1998}}</ref> TruckPro L.P., a chain with 43 stores in 14 states, and the 560-store [[Chief Auto Parts]] Inc., a chain with a presence in 5 states.<ref name="lat-1998may12">{{cite news |url=https://articles.latimes.com/1998/may/12/business/fi-48771 |title=AutoZone to Acquire Car Parts Rival Chief |newspaper=[[Los Angeles Times]] |date=May 12, 1998 |first=John |last=O'Dell}}</ref><ref name="lat-1998jul01">{{cite news |url=https://articles.latimes.com/1998/jul/01/business/fi-65162 |title=AutoZone Purchase of Chief Auto Is Complete |newspaper=[[Los Angeles Times]] |date=July 1, 1998|first=John |last=O'Dell}}</ref> At the commencement of fiscal 1999, AutoZone made another acquisition by purchasing 100 Express stores from [[Pep Boys|The Pep Boys—Manny, Moe & Jack]].<ref name="AutoZone-Nov-1998-10-K">{{cite web|url=http://edgar.secdatabase.com/1877/86678798000022/filing-main.htm |title=AutoZone, Form 10-K, Annual Report, Filing Date Nov 25, 1998 |publisher=secdatabase.com |access-date =Jan 18, 2013}}</ref> The company began a process of internationalization with their first store abroad, which opened in [[Nuevo Laredo]], [[Mexico]].<ref name="AutoZone-Nov-1998-ARS">{{cite web|url=http://edgar.secdatabase.com/1874/86678798000019/filing-main.htm |title=AutoZone, Form ARS, Filing Date Nov 2, 1998 |publisher=secdatabase.com |access-date =Jan 18, 2013}}</ref> AutoZone closed the 1990s by debuting at the [[Fortune 500]] list in 1999.

[[Steve Odland]] became AutoZone's third CEO in 2001.<ref name="AutoZone-Jan-2001-8-K">{{cite web|url=http://pdf.secdatabase.com/681/0000866787-01-500003.pdf |title=AutoZone, Form 8-K, Current Report, Filing Date Jan 12, 2001 |publisher=secdatabase.com |access-date =Jan 18, 2013}}</ref> Also in 2001, AutoZone sold TruckPro to Paratus Capital Management.<ref>{{cite web|url=http://www.bizjournals.com/memphis/stories/2001/12/17/daily47.html |title=AutoZone sells TruckPro division |date=2001-12-20|accessdateaccess-date=2021-02-03|website=bizjournals.com}}</ref>

[[ImageFile:2008-09-11Auto AutoZone in Hillsborough,Zone NCsign.jpgJPG|thumb|right|AutoZone store sign in [[HillsboroughPhoenix, North CarolinaArizona]].]]

In 2003, the ''Duralast tool'' line was introduced. This was a year of important negotiations for AutoZone, as the company partnered with other important auto parts industry companies, such as [[CarMax]] and Midas. AutoZone de Mexico opens the first DC in [[Nuevo Laredo]], [[Mexico]]. Total stores number 3,219 in 48 states and 49 in Mexico.<ref name="AutoZone-Oct-2003-8-K">{{cite web|url=http://pdf.secdatabase.com/1218/0000866787-03-000040.pdf |title=AutoZone, Form 8-K, Current Report, Filing Date Oct 31, 2003 |publisher=secdatabase.com |access-date =Jan 18, 2013}}</ref> In 2004, founder [[Pitt Hyde|J.R. "Pitt" Hyde III]] was inducted into the Automotive Hall of Fame.<ref>{{cite web|url=http://www.autonews.com/article/20041011/SUB/410110722/ |date=2004-10-11|accessdateaccess-date=2021-02-03 |title=Automotive Hall of Fame: A night for legends|website=autonews.com}}</ref>

On December 15, 2011, [[ALLDATA|ALLDATA LLC]], an operating unit of AutoZone, expanded its direct presence in [[Canada]] to better serve its growing customer base.<ref>{{cite web |title=ALLDATA Expands Its Presence in Canada |url=https://www.alldata.com/press-release/alldata-expands-its-presence-canada |publisher=ALLDATA Automotive Intelligence |access-date=14 January 2020 |date=15 December 2011}}</ref><ref>{{cite news |last1=Zacks Equity Research |title=AutoZone Expands in Canada |url=https://finance.yahoo.com/news/autozone-expands-canada-151518606.html |access-date=14 January 2020 |work=Yahoo! Finance |date=16 December 2011}}</ref>

On August 17, 2012, AutoZone expanded into their 49th state [[Alaska]] by opening their 5,000th store in [[Wasilla, Alaska]].

In December 2012, AutoZone purchased AutoAnything.com, an ecommercee-commerce leader in [[aftermarket automotive parts]] based in [[San Diego, California]].<ref name="AutoZone-Dec-2012-8-K"/><ref name="AutoZone-Dec-2012-10-Q">{{cite web|url=http://pdf.secdatabase.com/2653/0001193125-12-501787.pdf |title=AutoZone, Form 10-Q, Quarterly Report, Filing Date Dec 13, 2012 |publisher=SEC |work=EDGAR |access-date =Jan 18, 2013}}</ref>

By April 2017, AutoZone had been the largest retailer of automotive parts in North America for three consecutive years.<ref>{{cite web|last=Adams|first=Bruce|title=AutoZone again claims No. 1 spot in Top 25 Auto Chain Report|url=http://www.searchautoparts.com/aftermarket-business/special-reports/autozone-again-claims-no-1-spot-top-25-auto-chain-report|website=SearchAutoParts.com|access-date=April 13, 2018|date=April 25, 2017}}</ref> As of August 2017, AutoZone had 5,465 locations in the United States, 524 locations in Mexico, and 46 locations in Brazil, for a total of 6,035.<ref name="10-K Aug 2017">{{cite web |url=https://www.sec.gov/Archives/edgar/data/866787/000119312517319357/d447746d10k.htm | title=US SEC: Form 10-K AutoZone, Inc. |publisher=[[United States Securities and Exchange Commission]] |date=October 25, 2017}}</ref>

AutoZone is [[Incorporation (business)|incorporated]] in the state of [[Nevada]].<ref name="10-K Aug 20172023"/>

AutoZone's 67,000+140 retail outlets {{asof|2023|08|26|lc=y|df=US}}<ref name=investabout"10-K Aug 2023"/> throughout the United States, Mexico and Brazil stock a variety of aftermarket parts as well as some [[OEM]] parts. All AutoZone stores are corporately owned; the company does not have franchise operations.<ref name=about>[http://www.autozoneinc.com/about_us/our_company/index.html About Us: Our Company, Our Culture] AutoZone Official Site</ref>

AutoZone paid $3.3 million to settle a lawsuit toby the families of a family who was killed due to being rear-ended by an AutoZone-owned truck. The suit alleges that AutoZone was negligent in training the driver of the truck.<ref>{{cite web |url=https://www.ctpost.com/news/article/AutoZone-pays-3-3-million-for-Bridgeport-13088329.php |title=AutoZone pays $3.3 million for Bridgeport family's deaths |work=CT Post |last=Tepfer |first=Daniel |date=July 19, 2018 |access-date=November 12, 2018}}</ref>

AutoZone faced a lawsuit for gender discrimination in which the plaintiff alleged that men treated her differently when she was promoted and that she feared revealing a pregnancy to her superior. When the pregnancy was discovered, she alleges that her district manager pressured her to step down from her position. She was demoted in February 2006 and fired in November 2011. The jury on the case ruled in 2014 in favor of the plaintiff, awarding her $185 million in punitive damages as well as approximately $873,000 in back wages. AutoZone has announced its intention to appeal the verdict.<ref>{{cite web |url=https://www.nbcsandiego.com/news/local/AutoZone-Ordered-to-Pay-185M-in-Discrimination-Suit-283004671.html |title=AutoZone Ordered to Pay $185M in Discrimination Suit |work=NBC San Diego |last1=London |first1=Christina |last2=Nguyen |first2=Candice |date=November 17, 2014 |access-date=November 12, 2018}}</ref> ''[[The Wall Street Journal]]'''s Jacob Gershman suggested that the verdict would be scaled back, noting that the jury verdict is not the end-all be-all.<ref>{{cite web |url=https://blogs.wsj.com/law/2014/11/19/186-million-autozone-verdict-is-eye-opening-but-unlikely-to-stick/ |title=$186 Million AutoZone Verdict is Eye-Opening, but Unlikely to Stick |work=The Wall Street Journal |last=Gershman |first=Jacob |date=November 19, 2014 |access-date=November 12, 2018}}</ref>

* [http{{Official|https://www.autozone.com/ AutoZone web site]}}

| name = AutoZone, Inc.

| sec_cik = AZO866787

| google = AZO:NYSE

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