AutoZone, Inc. (NYSE: AZO) is a Fortune 500 corporation based in Memphis, Tennessee which is engaged in the business of the retail sale of automotive parts and accessories. Founded in 1979, it was originally a division of a Memphis-based grocery chain and operated under the name Auto Shack. After the sale of the grocery operation in 1986 the name was changed to AutoZone. Today, AutoZone is the leading retailer and distributor of automotive replacement parts and accessories in the United States. It receives investment grade credit ratings of BBB (S&P) and Baa1 (Moody’s).
Each store carries an extensive product line including new and remanufactured automotive hard parts, maintenance items, and accessories. Many stores also have a commercial sales program that provides commercial credit and delivery of parts to local, regional and national repair garages, dealers, and service stations. AutoZone serves customers in 49 states, Mexico, and Puerto Rico and and has over 81,000 employees.. There are 5,141 stores in the United States of which 2,861 are leased. Its major competitors include Pep Boys, Advance Auto Parts, and O’Reilly Auto Parts.
AutoZone does not derive revenue from automotive repair or installation: rather it focuses on the DIY customer and derives 82% of its revenue from that market. The company reported sales of $10.2 billion for FY 2015, an increase of 7.5% from 2014.