Everything about Autozone totally explained
AutoZone is a Fortune 300 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's 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.
AutoZone is
incorporated in the state of
Nevada. Its major competitors include
Pep Boys,
Advance Auto Parts, O'Reilly Auto Parts, and CSK Auto doing business as Schucks, Kragen, Murray's, and
Checker Auto Parts, as well as
CARQUEST and
NAPA.
History
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
1981, Express Parts or VDP is implemented to get the customers hard to find parts by special ordering them through wholesalers. Total stores was 73 in 7 states.
In
1984, the company became the first auto parts retailer to create a quality control program for its parts. Total stores was 194 in 13 states.
In
1985, Doc Crain coined the term WITTDTJR, which stands for "What it takes to do the job right." Total store count is 263 in 14 states.
By
1986, expansion had made the company grow into a large store chain across the South and the Midwest. That year, Darren Reltherford, manager of Auto Shack's
Memphis branch, received the first
Extra Miler award, which has since been given to AutoZoners who show their dedication to customer satisfaction by "going the extra mile" for customer service. The Duralast line of alternators and starters is released.
The Loan-A-Tool program begins allowing customers the ability to borrow specific tools for jobs. The 4th Distribution Center in Greenville, SC opens. Total of stores is 339 in 15 states.
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 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 of 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 of 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 hit $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 of stores is now 1,143 in 26 states.
1996 was the year when the
Internet era arrived at the company, when AutoZone opened its company Web site. The new commercial program was debuted in
Germantown, Tennessee. ALLDATA, a software company that provides automotive diagnostic and repair information was acquired.
In
1998, AutoZone acquired 112 Auto Palace stores in six states in the northeastern United States, 43 TruckPro L.P. stores in 14 states, and 560
Chief Auto Parts Inc. stores in 5 states. At the commencement of fiscal
1999, AutoZone made another acquisition by purchasing 100 Express stores from The Pep Boys--Manny, Moe & Jack. The company began a process of internationalization with their first store abroad, which opened in
Nuevo Laredo,
Mexico. AutoZone closed the
1990s by debuting at the
Fortune 500 list in
1999. American Motors General Corporation agrees to put Duralast batteries in the '98 '99 and 2000 models of commercial Hummers.
Steve Odland became AutoZone's third CEO in
2001. AutoZone's Vision and Values are released. Vision: "Relentlessly creating the most exciting Zone for vehicle solutions!" AutoZone's value statements: Integrity, Respect, Teamwork, Communication, Innovation, Initiative, Accountability, Thriftiness, Leadership, Excellence.
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 parts industry companies, such as
CarMax and Midas. AutoZone de Mexico opens the first DC in Nuevo Laredo, Mexico. Total stores number 3,219 in 48 states and 49 in Mexico.
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
In
2007, AutoZone opened their 4,000th store in
Houston, Texas. Sales hit $6.2 billion.
Further Information
Get more info on 'Autozone'.
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