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AutoZone

AutoZone NYSE: AZO is a Fortune 500 corporation based in Memphis, Tennessee which is engaged primarily in the business of the retail sale of automotive parts and accessories. It was originally a division of Memphis-based wholesale grocer Malone & Hyde, and went under the name Auto Shack, which was changed after the Radio Shack company objected. After the sale of the grocery operation to the Fleming Companies of Oklahoma City, the name of the company was changed to AutoZone to reflect the new focus. AutoZone holds the naming rights to the downtown Memphis baseball stadium that is the home of the Memphis Redbirds of the Pacific Coast League. The company also sponsors the AutoZone Liberty Bowl.

Duralast and Valucraft are AutoZone's private label brand of automotive batteries (manufactured by Johnson Controls), as well as other parts and accessories.

The first AutoZone store was opened at Forrest City, Arkansas, in 1979, under the name of Auto Shack. Doc Crain was the store's first manager. The total day sales was $300.00

In 1988, Auto Shack officially changed its name to AutoZone. This would mark the beginning of an era of large expansion for the company, as it would soon after open stores in other areas across the United States. That year also, the company introduced WITT-JR, an electronic catalog used to look up parts and keep warranty information. Total Stores is now 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. Total Stores is 513 in 17 States.

In 1991, its stock began trading on the New York Stock Exchange. It opened up at $27.50 a share. It was then valued at $1 billion. The 5th DC opens in Lafayette, LA The company also became the first auto parts retailer to register customer warranties in a computer database.

In 1994, AutoZone began using satellites to facilitate communication between stores and the corporate office. Sales it $1.5 billion

In 1995, their 1,000th store was opened on Bardstown road in Louisville, Kentucky. Also, the Duralast trademark made its debut with the Duralast and Duralast Gold batteries. Total Stores is now 1,143 in 26 States

In 2002, AutoZoners developed a network of "hub, feeder, and satellite" stores to have more product in the market area, while reducing inventory investment. Sales hit $5.32 billion

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 part industry companies, such as CarMax and Midas. AutoZone de Mexico opens the first DC in Nuevo Laredo, Mexico. Total Stores are now US- 3,219 - Mexico- 49 in 48 States

In 2004, AutoZone celebrated its 25th anniversary and announced a corporate sponsorship agreement with auto racing association NASCAR. In addition, founder Pitt Hyde was inducted into the Automotive Hall of Fame. Pitt Hyde set a precedent as the first aftermarket retailer in the Automotive Hall of Fame.

In 2005, William C. Rhodes III was named President and CEO. Steve Odland left to become the Chairman and CEO of Office Depot.

In 2007, AutoZone will sponsor Kevin Harvick & Timothy Peters in the NASCAR Busch Series

Source: Wikipedia - News Reports

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