AutoZone to buy back up to $750 million in stock

AutoZone approves additional repurchase of up to $750 million in stock

Associated Press

MEMPHIS, Tenn. (AP) -- Auto parts retailer AutoZone Inc. said Thursday that it is adding to its buyback program with the repurchase up to $750 million in company stock.

AutoZone bought back 833,000 shares for about $325 million during its latest fiscal quarter. The company had 35.5 million shares on the market as of Friday.

Shares of AutoZone rose 71 cents to $416.71 in midday trading.