Public/Private: Public
Stock Symbol (if
applicable): AZO
S & P Credit Rating: BBB
# of locations: 4,200+
Headquartered in
Memphis, Tennessee, Auto
Zone is the nation’s
leading retailer and
distributor of
automotive replacement
parts and accessories.
The company now operates
more than 4,200
locations across the
United States and Puerto
Rico, and over 180
stores across Mexico.
Auto Zone, along with
other auto parts
retailers, has benefited
from the downturn in the
economy as more people
opt for do it yourself
repairs as opposed to
taking their car to a
repair shop or
purchasing a new
vehicle. For the 2009
fiscal year, Auto Zone
saw same store sales
growth of 4.4% along
with record profits of
almost $1.2 billion.
Auto Zone has also been
aggressively
repurchasing company
stock since 1998, a
signal of company
strength. Auto Zone’s
stores typically range
from 6,500 – 8,000
square feet and require
slightly less than an
acre of property.
AutoZone takes claim to one of the richest histories in the automotive field. You will be able to enter an AutoZone anywhere in the world and always be able to find a clean atmosphere with new products always stocked on the shelves. The first AutoZone opened in 1979 in Forrest City, Arkansas. The little store which was called “Auto Shack” at the time quickly began to expand to where it had over 3,600 stores today! As long as AutoZone has been in business it has been creating milestones and setting high standards for everyone else in the Automotive field.
In 1984 AutoZone became the first retailer to create a quality control program which demonstrated their great confidence in their business and products. AutoZone has always been focusing on customer service, even back in 1984! They created a recognition program that helped their employees serve customers better, that program is still in use and doesn’t look like its going anywhere any time soon. During the great technology boom AutoZone was not falling behind, it was taking advantage. They equipped all of their stores with a store management system which let them keep track of parts so you were sure to get what you needed when you needed it.
Since 1994 AutoZone has been rapidly growing and making friends with local shop owners so they could provide them with discount auto parts. Year after year AutoZone continues to impress investors by their sky rocketing revenue and their outstanding customer service. If you are looking for a rapidly growing company AutoZone is the one for you. Don’t hesitate to contact us at any time to find out more information about AutoZone.
Our Take:
Auto Zone has become a
great tenant in the
single tenant triple net
lease game. Many
investors are drawn to
them because of their
“recession-proof” retail
niche. As more and more
American’s aim to cut
spending and live more
frugal lifestyles, Auto
Zone continues to look
like a strong retail
tenant.