What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2025-10-27 compared with 2024-10-28 · 61 added, 37 removed, 273 unchanged (26% of the section changed)

AutoZone, Inc.

(“AutoZone,” the “Company,” “we,” “our” or “us”) is the leading retailer and distributor of automotive replacement parts and accessories in the Americas.

(“AutoZone,” the “Company,” “we,” “our” or “us”) is a leading retailer and distributor of automotive replacement parts and accessories in the Americas.

We began operations in 1979 and at August 30, 2025, operated 6,627 stores in the United States (“U.S.”), 883 stores in Mexico and 147 stores in Brazil.

7 unchanged sentences

Human Capital Resources

We believe the foundation of our success is our culture, which is rooted in our Pledge and Values and defines how our employees (“AutoZoners”) take care of customers and fellow AutoZoners.

Each AutoZoner works hard to Live the Pledge, share their passion for WOW!

We believe the foundation of our success is our culture, which is deeply rooted in our Pledge and Values:

Puts Customers First, Cares About People, Strives for Exceptional Performance, Energizes Others, Embraces Diversity and Helps Teams Succeed.

Our Pledge and Values define how our employees (“AutoZoners”) take care of customers and fellow AutoZoners by fostering a strong, unique culture of teamwork and customer service.

Each AutoZoner works hard to Live the Pledge, remain committed to our values, share their passion for WOW!

Customer Service and Go the Extra Mile every day to continue building and growing AutoZone for our customers.

We seek to be the employer of choice as we compete for talent in our retail stores, field supervision, distribution centers, and store support functions.

We focus heavily on retention by offering competitive compensation and benefits packages, extensive training and development opportunities and by leveraging our business resource groups (“BRGs”) to support AutoZoners across the organization contribute their voices, time, and talent to helping other AutoZoners succeed in their careers.

We focus heavily on retention by offering competitive compensation and benefits packages, extensive training and development opportunities.

As of August 30, 2025, we employed approximately 130,000 AutoZoners, approximately 60 percent of whom were employed full-time and the remaining 40 percent were employed part-time.

About 90 percent of our AutoZoners were employed in stores or in direct field supervision, approximately 6 percent in distribution centers and approximately 4 percent in store support and other functions.

Approximately 91 percent of our AutoZoners were employed in stores or in direct field supervision, approximately six percent in distribution centers and approximately three percent in store support and other functions.

Included in the above numbers are approximately 19,000 AutoZoners employed in our international operations.

3 unchanged sentences

We have a number of different types of jobs and career opportunities.

While many of our AutoZoners follow more traditional career paths (e.g., part-time to full-time sales, store manager, district manager, regional manager, vice president), we encourage cross-functional development and support of AutoZoners as they expand their career into other departments and fields of interest within the Company.

While many of our AutoZoners follow more traditional career paths (e.g., part-time to full-time sales, store manager, district manager, regional manager, vice president), we encourage cross-functional development and support of AutoZoners as they expand their careers into other departments and fields of interest within the Company.

Many members of our senior leadership team have held positions in multiple areas of the business.

We also invest in advanced leadership training to deepen our bench strength and support succession planning.

For additional information, see “Store Operations—Store Personnel Training and Incentives” below.

For additional information, see “Store Personnel Training and Incentives” below.

We believe these opportunities are important to attract, motivate and retain high quality AutoZoners.

4 unchanged sentences

We also recognize AutoZoners for their years of service to the organization and our customers.

Diversity, Equity and Inclusion (“DEI”)

“Embraces Diversity” is one of our Values, and we believe a diverse workforce has made meaningful contributions to our success.

Our DEI efforts influence and inform many parts of our human capital management efforts including talent acquisition, retention, professional development and workforce management.

Our first BRG was established in 2014 (AutoZone Women’s Initiative).

Since then, five other BRGs now exist to help AutoZoners across the organization grow and succeed in their careers.

The BRGs are open to all AutoZoners.

Health and Safety

1 unchanged sentence

Aligned with our values, we strive to continually monitor our working and shopping environment to keep our AutoZoners and customers as safe as possible.

Additional information about our human capital resources can be found in our most recent Environmental, Social & Governance (“ESG”) Report, which is available on our website.

Our ESG Report is not, and will not be deemed to be, a part of this Annual Report on Form 10-K or incorporated by reference into this or any of our other filings with the Securities and Exchange Commission (“the SEC”).

Additional information about our human capital resources can be found in our most recent Corporate Responsibility Report, which is available on our website.

Our Corporate Responsibility Report is not, and will not be deemed to be, a part of this Annual Report on Form 10-K or incorporated by reference into this or any of our other filings with the Securities and Exchange Commission (the “SEC”).

Store Operations

15 unchanged sentences

As a subset of our domestic hub stores, we ended fiscal 2025 with 133 mega hub stores, an increase of 24 since the end of fiscal 2024.

Additionally, we have three mega hub stores in Mexico.

Additionally, we have eight mega hub stores in Mexico.

Hub and mega hub stores work in concert with other stores to drive customer satisfaction through improved local parts availability and expanded product assortments.

23 unchanged sentences

Our commercial sales program operates in a highly fragmented market, and we are a leading distributor of automotive parts and other products to local, regional and national repair garages, dealers, service stations, fleet owners and other accounts in the Americas.

As part of our program, we offer credit and delivery to our customers, as well as online ordering through www.autozonepro.com or through the AutoZone Pro mobile application.

Through our hub and mega hub stores, we offer a greater range than our satellite stores of parts and products desired by

professional technicians.

As part of our program, we offer prompt delivery to our customers and commercial credit, as well as online ordering through www.autozonepro.com or through the AutoZone Pro mobile application.

Through our hub and mega hub stores, we offer a larger assortment than our satellite stores of parts and

products desired by professional technicians.

We have dedicated sales teams focused on independent repair shops as well as national, regional and fleet commercial accounts.

5 unchanged sentences

Key factors in selecting new site and market locations for stores include population, demographics, vehicle profile, customer buying trends, commercial businesses, number and strength of competitors’ stores and the cost of real estate.

In reviewing the vehicle profile, we also consider the number of vehicles that are seven years old and older, or “our kind of vehicles”;

these vehicles are generally no longer under the original manufacturers’ warranties and require more maintenance and repair than newer vehicles.

In reviewing the vehicle profile, we also consider the number of vehicles that are seven years old and older, or “our kind of vehicles;” these vehicles are generally no longer under the original manufacturers’ warranties and require more maintenance and repair than newer vehicles.

We seek to open new stores in high visibility sites in high traffic locations within or contiguous to existing market areas and attempt to cluster development in markets in a relatively short period of time.

8 unchanged sentences

Our electronic parts catalog assists in the selection of parts as well as identifying any associated warranties offered by us or our vendors.

In addition to our in-store offerings, we sell our full suite of automotive hard parts, maintenance items, accessories and non-automotive parts through www.autozone.com, for pick-up in store or to be shipped directly to a customer’s home or business, with next day or same day delivery programs in most of our U.S.

In addition to our in-store offerings, we sell our full suite of automotive hard parts, maintenance items, accessories and non-automotive parts through www.autozone.com, for pick-up in store or to be shipped directly to a customer’s home or business, with same day or next day delivery programs in most of our U.S.

Additionally, we offer a mobile application that provides customers with store locations, driving directions, operating hours, product availability, the ability to purchase products and other information.

4 unchanged sentences

The following tables show some of the types of products we sell by major category of items:

Discretionary

A/C Compressors

26 unchanged sentences

Each store carries the same basic products, but we tailor our hard parts inventory to the makes and models of the vehicles in each store’s trade area and tailor the remaining store’s assortment to the local demographics.

Our hub stores (including mega hub stores, which carry an even broader assortment) carry a larger assortment of products that are available to customers of the surrounding local stores.

Our hub and mega hub stores carry a larger assortment of products that are available to customers of the surrounding local stores.

We are continuously updating the products we offer to ensure our inventory matches the products our customers need or desire.

18 unchanged sentences

Monterrey, Mexico;

Chihuahua, Mexico;

Sao Paulo, Brazil and Gurugram, India.

10 unchanged sentences

store layouts, location and convenience;

and the strength of our AutoZone brand name, trademarks and service marks.

and the strength of our AutoZone brand name and quality, trademarks and service marks.

Our competitors include national, regional and local auto parts chains, independently owned parts stores, online automotive parts stores or marketplaces, wholesale distributors, jobbers, repair shops, car washes and auto dealers, in addition to discount and mass merchandise stores, hardware stores, supermarkets, drugstores, convenience stores, home stores and other retailers that sell aftermarket vehicle parts and supplies, chemicals, accessories and tools.

Government Relations

We are subject to numerous federal, state, and local laws and regulations, many of which are complex, frequently changing and subject to varying interpretations.

As a company with global operations, we are subject to the federal, state, and local laws and regulations, in the jurisdictions in which we operate, many of which are complex, frequently changing and subject to varying interpretations.

These laws and regulations relate to, among other things, the marketing and sale of products;

16 unchanged sentences

Patent and Trademark Office as well as in certain other countries, including without limitation:

“AutoZone,” “Get in the Zone,” “Duralast,” “Econocraft,” “ProElite,” “ShopPro,” “SureBilt,” “TotalPro,” “TruGrade,” “Valucraft,” and “ALLDATA,” along with variations of these trademarks.

“AutoZone,” “AutoZone Rewards,” “Get in the Zone,” “Zone,” “Duralast,” “Econocraft,” “ProElite,” “ShopPro,” “SureBilt,” “TotalPro,” “TruGrade,” “Valucraft,” and “ALLDATA,” along with variations of these trademarks.

Our trademark registrations have various expiration dates;

8 unchanged sentences

Our primary website is www.autozone.com.

We make available on the Investor Relations section of our website, free of charge, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, proxy statements, registration statements and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities and Exchange Act of 1934, as amended, as soon as reasonably feasible after filing or furnishing such documents with the SEC.

We make available on the Investor Relations section of our website, free of charge, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, proxy statements, registration statements and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), as soon as reasonably feasible after filing or furnishing such documents with the SEC.

Our websites and the information contained therein or linked thereto are not intended to be incorporated into this Annual Report on Form 10-K.

11 unchanged sentences

Daniele III, 56—President and Chief Executive Officer, Customer Satisfaction

Daniele III was appointed President and Chief Executive Officer and was also appointed to serve on the Board in January 2024.

Daniele III was appointed President and Chief Executive Officer and appointed to serve on the Board in January 2024.

Prior to his appointment as President and Chief Executive Officer, Mr.

8 unchanged sentences

Prior to joining AutoZone, Mr.

Jackson served as Executive Vice President and Chief Financial Officer of Hertz Global Holdings, Inc., a worldwide rental company, since 2018.

Jackson served as Executive Vice President and Chief Financial Officer of Hertz Global Holdings, Inc., a global rental company, from 2018 to 2020.

From 2014 to 2018, Mr.

16 unchanged sentences

Hackney, 60—Executive Vice President – Merchandising, Marketing and Supply Chain, Customer Satisfaction

Hackney was named Executive Vice President – Merchandising, Marketing and Supply Chain in September 2023.

Hackney was named Executive Vice President – Merchandising, Marketing and Supply Chain in September 2023, and has notified the Company of his intent to retire effective prior to the end of the 2025 calendar year.

Prior to that, Mr.

1 unchanged sentence

Hackney’s career with AutoZone began in 1983, and he has held several key management roles within the Company, including Senior Vice President – Merchandising, Vice President – Store Operations Support and Vice President – Merchandising.

Gould, 56—Executive Vice President – Merchandising, Marketing and Supply Chain, Customer Satisfaction

Gould was named Executive Vice President – Merchandising, Marketing and Supply Chain in August 2025.

From 2021 to 2025, Mr.

Gould served as Senior Vice President – Supply Chain.

Prior to that, Mr.

Gould held several key management positions with the Company, including Vice President – Supply Chain Replenishment and Vice President – Commercial, Commercial Support and Merchandising Pricing & Analysis.

Bedsole, 54—Senior Vice President, General Counsel & Secretary, Customer Satisfaction

12 unchanged sentences

Borninkhof held various roles in store retail, distribution center operations and process improvement.

Gould, 55—Senior Vice President – Supply Chain, Customer Satisfaction

Gould was named Senior Vice President – Supply Chain in February 2021.

Childress, 36—Senior Vice President – Omnichannel and Merchandising Support, Customer Satisfaction

Childress was named Senior Vice President – Omnichannel and Merchandising Support in December 2024.

From 2022 to 2024, Mr.

Gould served as Vice President – Supply Chain Replenishment.

Childress served as Vice President – Merchandising Pricing and Analysis.

Prior to that, Mr.

Gould held several key management positions with the Company, including Vice President – Commercial, Commercial Support and Merchandising Pricing & Analysis.

Childress held several key management positions with the Company, including Director – Merchandising, Commercial Merchandising, and Commercial Pricing.

Hurtado, 64—Senior Vice President – International, Customer Satisfaction

11 unchanged sentences

Jaycox served as Vice President of Transformation at Sysco Corporation, where he led numerous sales, digital transformation and supply chain initiatives.

Leef, 51—Senior Vice President, Human Resources, Customer Satisfaction

Leef was named Senior Vice President – Human Resources in August 2025.

Prior to joining AutoZone, Mr.

Leef was Executive Vice President and Chief Human Resources Officer for Hertz Global since 2021.

He joined Hertz as Senior Vice President, Chief Human Resources Officer in September 2020.

Prior to joining Hertz Global,

Leef was Chief Human Resources Officer at Atria Senior Living Community.

Prior to that, Mr.

Leef spent 16 years at GE and GE Appliances, a Haier Company, holding various HR leadership roles supporting supply chain, technology and consumer service divisions.

Lehman, 47 — Senior Vice President – Marketing, Customer Satisfaction

Lindsay Lehman was named Senior Vice President – Marketing in November 2023, where she leads the Marketing and E-commerce teams.

Lehman was named Senior Vice President – Marketing in November 2023, where she leads the Marketing and E-commerce teams.

Prior to that, Ms.

9 unchanged sentences

LeRiche held several other key management positions with the Company.

Denise McCullough, 53—Senior Vice President – Supply Chain, Customer Satisfaction

Denise McCullough was named Senior Vice President – Supply Chain in August 2025.

From 2022 to 2025, Ms.

McCullough was Vice President – Transportation.

McCullough has been an AutoZoner since 2001, previously serving as Vice President, Replenishment in 2021.

Prior to that, Ms.

McCullough served in various key positions within the Company.

Rauch, 45—Senior Vice President – Merchandising and Global Sourcing, Customer Satisfaction

Rauch was named Senior Vice President – Merchandising and Global Sourcing in December 2024.

Rauch joined AutoZone in 2024 as Vice President – Merchandising.

Prior to joining AutoZone, Mr.

Rauch held several roles at Walgreens, including Chief Merchandising Officer, General Manager, Owned Brands, and Vice President, Commercial Strategy.

Prior to joining Walgreens, Mr.

Rauch worked for Deloitte Consulting, leading various strategic projects across marketing, technology, and retail.

Smith, 61—Senior Vice President – Human Resources, Customer Satisfaction

Smith was named Senior Vice President – Human Resources in December 2015.

Smith was named Senior Vice President – Human Resources in December 2015, and has notified the Company of his intent to retire effective around the beginning of the 2026 calendar year.

Smith has been an AutoZoner since 1985, previously holding the position of Divisional Vice President – Store Operations since 1997.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business