Automotive parts retailer AutoZone Inc (AZO) on Tuesday said its board authorized the repurchase of an additional $750 million of its common stock.
"AutoZone's continued strong financial performance allows us to repurchase our stock while maintaining our investment grade credit ratings," said CEO Bill Giles in a statement.
"We remain committed to utilizing share repurchases within the bounds of a disciplined capital structure to enhance stockholder returns while maintaining adequate liquidity to execute our plans."
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