What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2020-10-26 compared with 2019-10-28 · 132 added, 197 removed, 141 unchanged (70% of the section changed)

AutoZone, Inc.

(AutoZone, the Company, we, our or us) is the leading retailer, and a leading

distributor, of automotive replacement parts and accessories in the Americas.

We began operations in 1979 and at August 31, 2019, operated 5,772 stores in the United States (U.S.), including Puerto Rico and Saint Thomas;

604 stores in Mexico;

and 35 stores in Brazil.

Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and

non-automotive products.

At August 31, 2019, in 4,893 of our domestic stores, we also had a commercial sales program that provides commercial credit and prompt delivery of parts and other products to

local, regional and national repair garages, dealers, service stations and public sector accounts.

We also have commercial programs in stores in Mexico and Brazil.

We also sell the ALLDATA brand automotive diagnostic and repair software through

www.alldata.com and www.alldatadiy.com.

Additionally, we sell automotive hard parts, maintenance items, accessories and non-automotive products through www.autozone.com, and our commercial customers can make

purchases through www.autozonepro.com.

Additionally, on www.duralastparts.com we provide product information on our Duralast branded product.

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

We began operations in 1979 and at August 29, 2020, operated 5,885 stores in the United States (“U.S.”), 621 stores in Mexico and 43 stores in Brazil.

Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products.

At August 29, 2020, in 5,007 of our domestic stores, we also had a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts.

We also have commercial programs in all stores in Mexico and Brazil.

We also sell the ALLDATA brand automotive diagnostic and repair software through www.alldata.com and www.alldatadiy.com.

Additionally, we sell automotive hard parts, maintenance items, accessories and non-automotive products through www.autozone.com, and our commercial customers can make purchases through www.autozonepro.com.

We also provide product information on our Duralast branded products through www.duralastparts.com.

We do not derive revenue from automotive repair or installation services.

8 unchanged sentences

Marketing and Merchandising Strategy

We are dedicated to providing customers with superior service and trustworthy advice as well as quality automotive parts and products at a great value in

conveniently located, well-designed stores.

We are dedicated to providing customers with superior service and trustworthy advice as well as quality automotive parts and products at a great value in conveniently located, well-designed stores.

Key elements of this strategy are:

1 unchanged sentence

Customer service is the most important element in our marketing and merchandising strategy, which is based upon consumer marketing research.

We emphasize that

our AutoZoners (employees) should always put customers first by providing prompt, courteous service and trustworthy advice.

Our electronic parts catalog assists in the selection of parts as well as identifying any associated warranties that are

offered by us or our vendors.

We sell 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 customers home or business, with next day delivery covering approximately 85% of the U.S.

Additionally, we offer a smartphone application that provides customers with store locations, driving directions,

operating hours, product availability and ability to purchase products.

We also provide specialty tools through our Loan-A-Tool program.

Customers can borrow a specialty tool, such as a steering wheel puller, for which a do-it-yourself

(DIY) customer or a repair shop would have little or no use other than for a single job.

AutoZoners also provide free services, including check engine light readings where allowed by law, battery charging, the collection of used oil for

recycling and the testing of starters, alternators and batteries.

We emphasize that our AutoZoners (employees) should always put customers first by providing prompt, courteous service and trustworthy advice.

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

We sell 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 delivery covering approximately 80% of the U.S.

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

We also provide specialty tools through our suite of free services.

Through our Loan-A-Tool program customers can borrow a specialty tool, such as a steering wheel puller, for which a do-it-yourself (“DIY”) customer or a repair shop would have little or no use other than for a single job.

AutoZoners also provide free diagnostic and related services, including check engine light readings through our AutoZone Fix Finder service, testing of starters, alternators and batteries, battery charging and the collection of used oil for recycling.

Merchandising

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

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

Discretionary

A/C Compressors

Batteries & Accessories

Belts & Hoses

2 unchanged sentences

Brake Drums, Rotors, Shoes & Pads

Chemicals, including

Brake & Power

Chemicals, including Brake & Power

Steering Fluid, Oil & Fuel Additives

Oil & Transmission Fluid

Oil, Air, Fuel &

Transmission Filters

Oil, Cabin, Air, Fuel & Transmission

Oxygen Sensors

Paint & Accessories

Refrigerant & Accessories

Absorbers & Struts

Shock Absorbers & Struts

Spark Plugs & Wires

10 unchanged sentences

Stereos & Radios

We believe that the satisfaction of our customers is often impacted by our ability to provide specific automotive products as

We believe that customer satisfaction is often impacted by our ability to promptly provide specific automotive products as requested.

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 our sales floor products are tailored to the local store’s demographics.

Our hub stores (including mega hubs, which carry an even broader assortment) carry a larger assortment of products that are delivered to local satellite stores.

We are constantly updating the products we offer to ensure that our inventory matches

the products our customers need or desire.

We want to be the value leader in our industry, by consistently providing quality merchandise at the right price, backed by a satisfactory warranty and

outstanding customer service.

For many of our products, we offer multiple value choices in a good/better/best assortment, with appropriate price and quality differences from the good products to the better and

best products.

A key differentiating component versus our competitors is our exclusive line of in-house brands, which includes AutoZone, Duralast, Duralast Max, Duralast Gold, Duralast Platinum,

Duralast ProPower, Duralast GT, Valucraft, SureBilt, ProElite and TruGrade.

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

We want to be the value leader in our industry, by consistently providing quality merchandise at the right price, backed by a satisfactory warranty and outstanding customer service.

For many of our products, we offer multiple value choices in a good/better/best assortment, with appropriate price and quality differences from the “good” products to the “better” and “best” products.

A key differentiating component versus our competitors is our exclusive line of in-house brands, which includes Duralast and the family of Duralast brands, ProElite, ShopPro, SureBilt, TruGrade and Valucraft.

We believe that our overall value compares favorably to that of our competitors.

Brand Marketing:

Advertising and Promotions

that targeted advertising and promotions play important roles in succeeding in todays environment.

Marketing and Loyalty

We believe that targeted advertising and promotions play important roles in succeeding in today’s environment.

We are constantly working to understand our customers’ wants and needs so that we can build long-lasting, loyal relationships.

promotions, advertising and loyalty programs primarily to highlight our great value and the availability of high quality parts.

Broadcast and internet media are our primary advertising methods of driving retail traffic to our stores, while we

leverage a dedicated sales force and our ProVantage loyalty program to drive commercial sales.

In the stores, we utilize in-store signage, in-store circulars, and

creative product placement and promotions to help educate customers about products that they need.

Store Design and Visual Merchandising

We utilize advertising, direct marketing, loyalty programs and promotions primarily to highlight our great value, the availability of high quality parts and develop a relationship with an expanding base of customers.

Broadcast and digital media are our primary advertising methods of driving retail traffic to our stores, while we leverage a dedicated sales force and our ProVantage loyalty program to drive commercial sales.

Store Design, Visual Merchandising and Promotional Execution

We design and build stores for high visual impact.

The typical store utilizes colorful exterior and interior signage, exposed beams and ductwork and brightly

lit interiors.

The typical store utilizes colorful exterior and interior signage, exposed beams and ductwork and brightly lit interiors.

Maintenance products, accessories and non-automotive items are attractively displayed for easy browsing by customers.

In-store signage and special

displays promote products on floor displays, end caps and shelves.

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 and public sector accounts in the Americas.

In-store signage and special displays promote products on floor displays, end caps and shelves.

We utilize in-store signage, in-store circulars, and creative product placement and promotions to help educate customers about products that they need.

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 and public sector accounts in the Americas.

As a part of the domestic store program, we offer credit and delivery to our customers, as well as online ordering through www.autozonepro.com.

2 unchanged sentences

Store Operations

Store Formats

Substantially all stores are based on standard store formats, resulting in generally consistent appearance, merchandising and product mix.

Approximately 90% to 99% of each store’s square footage is selling space.

In our satellite stores, approximately 40% to 45% of our space is dedicated to hard parts inventory, while our hub stores and mega hubs have 75% to 85% of their space

utilized for hard parts.

In our satellite stores, approximately 40% to 50% of our space is dedicated to hard parts inventory, while our hub stores and mega hubs have 70% to 85% of their space utilized for hard parts.

The hard parts inventory area is generally fronted by counters or pods that run the depth or length of the store, dividing the hard parts area from the remainder of the store.

The remaining selling space contains displays of

maintenance, accessories and non-automotive items.

We believe that our stores are destination stores,

generating their own traffic rather than relying on traffic created by adjacent stores.

The remaining selling space contains displays of maintenance, accessories and non-automotive items.

We believe that our stores are “destination stores,” generating their own traffic rather than relying on traffic created by adjacent stores.

Therefore, we situate most stores on major thoroughfares with easy access and good parking.

Store Personnel and Training

We provide on-the-job training as well as formal training programs, including an annual national sales meeting with related cascading meetings at our distribution centers, regional

offices and stores;

We provide on-the-job training as well as formal training programs, including an annual national sales meeting with related cascading meetings at our distribution centers, regional offices and stores;

store meetings on specific sales and product topics;

standardized computer-based training to support culture, safety, salesmanship, compliance and product and job knowledge;

and several specialist, vendor and third-party programs

to support learning and development in areas requiring technical expertise and specific job knowledge.

All domestic AutoZoners are encouraged to complete our in-house product knowledge program and Parts Expert

certification, which is developed in partnership with our key suppliers.

and several specialist, vendor and third-party programs to support learning and development in areas requiring technical expertise and specific job knowledge.

All domestic AutoZoners are encouraged to complete our in-house product knowledge program and Parts Expert certification, which is developed in partnership with our key suppliers.

Training is supplemented with frequent store visits by management.

Advanced leadership training is an additional area of investment that is used to deepen bench strength and

support succession planning.

Store managers, commercial sales managers and managers at various levels across the organization receive financial

incentives through performance-based bonuses.

Advanced leadership training is an additional area of investment that is used to deepen bench strength and support succession planning.

Store managers, commercial sales managers and managers at various levels across the organization receive financial incentives through performance-based bonuses.

In addition, our growth has provided opportunities for the promotion of qualified AutoZoners.

2 unchanged sentences

Monterrey, Mexico;

Chihuahua, Mexico and Sao Paulo,

Chihuahua, Mexico and Sao Paulo, Brazil.

We believe that this centralization enhances consistent execution of our merchandising and marketing strategies at the store level, while reducing expenses and cost of sales.

3 unchanged sentences

The Z-net display screens are placed on the hard parts counter or pods, where both the AutoZoner and customer can view the screen.

Our stores utilize our computerized proprietary Store Management System, which includes bar code scanning and point-of-sale data collection terminals.

The Store Management System provides administrative assistance, as well as enhanced merchandising information and improved inventory control.

We believe the Store

Management System also enhances customer service through faster processing of transactions and simplified warranty and product return procedures.

Our stores utilize our computerized proprietary Point-of-Sale System, which includes bar code scanning and point-of-sale data collection terminals.

Our proprietary Store Management System provides administrative assistance, as well as enhanced merchandising information and improved inventory control.

We believe the Point-of-Sale System also enhances customer service through faster processing of transactions, while the Store Management System provides simplified warranty and product return procedures.

Store Development

The following table reflects our location development during the past five fiscal years:

17 Interamerican Motor Corporation (IMC) branches acquired on September 27, 2014.

26 IMC branches sold on April 4, 2018.

See Note M Sale of Assets for more

We believe that expansion opportunities exist in markets that we do not currently serve, as well as in markets where

we can achieve a larger presence.

26 Interamerican Motor Corporation (“IMC”) branches sold on April 4, 2018.

See “Note M – Sale of Assets” for more information.

We believe expansion opportunities exist in markets we do not currently serve, as well as in markets where we can achieve a larger presence.

We undertake substantial research prior to entering new markets.

The most important criteria for opening a new store is the projected future profitability and the ability to achieve our required investment hurdle

The most important criteria for opening a new store are the projected future profitability and the ability to achieve our required investment hurdle rate.

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.

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

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 addition to continuing to lease or develop our own locations, we evaluate and may make strategic acquisitions.

3 unchanged sentences

Additionally, we have an office in Shanghai, China to support our sourcing efforts in Asia.

In fiscal 2019, one class of similar products accounted for approximately 13 percent of our total sales, and one vendor supplied approximately

12 percent of our purchases.

In fiscal 2020, one class of similar products accounted for approximately 12 percent of our total sales, and one vendor supplied approximately 12 percent of our purchases.

No other class of similar products accounted for 10 percent or more of our total sales, and no other individual vendor provided more than 10 percent of our total purchases.

We believe that alternative

sources of supply exist, at similar costs, for most types of product sold.

We believe that alternative sources of supply exist, at similar costs, for most types of product sold.

Most of our merchandise flows through our distribution centers to our stores by our fleet of tractors and trailers or by third-party trucking firms.

The distribution centers

replenish all stores up to multiple times per week depending on store sales volumes.

We ended fiscal 2019 with 205 total domestic hub stores, which have

a larger assortment of products as well as regular replenishment items that can be delivered to a store in its network within 24 hours.

The distribution centers replenish all stores up to multiple times per week depending on store sales volumes.

We ended fiscal 2020 with 224 total domestic hub stores, which have a larger assortment of products as well as regular replenishment items that can be delivered to a store in its network within 24 hours.

Hub stores are generally replenished from distribution centers multiple times per week.

Hub stores have

increased our ability to distribute products on a timely basis to many of our stores and to expand our product assortment.

As a subset, we ended fiscal

2019 with 35 domestic mega hubs, an increase of 11 since fiscal 2018.

Hub stores have increased our ability to distribute products on a timely basis to many of our stores and to expand our product assortment.

As a subset of our domestic hub stores, we ended fiscal 2020 with 44 domestic mega hubs, an increase of 9 since the end of fiscal 2019.

Mega hubs work in concert with our hubs to drive customer satisfaction through improved local parts availability and expanded product assortments.

A mega hub store carries

inventory of 70,000 to 110,000 unique SKUs, approximately twice what a hub store carries.

A mega hub store carries inventory of 70,000 to 110,000 unique SKUs, approximately twice what a hub store carries.

Mega hubs provide coverage to both surrounding stores and other hub stores multiple times a day or on an overnight basis.

Currently, we have over 5,500

domestic stores with access to mega hub inventory.

A majority of these 5,500 stores currently receive their service on an overnight basis, but as we expand our mega hubs, more of them will receive this service same day and many will receive it

multiple times per day.

The sale of automotive parts, accessories and maintenance items is highly competitive in many areas, including name recognition, product availability, customer

service, store location and price.

AutoZone competes in the aftermarket auto parts industry, which includes both the retail DIY and commercial

do-it-for-me (DIFM) auto parts and products markets.

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, tools and maintenance parts.

Currently, we have over 5,700 domestic stores with access to mega hub inventory.

A majority of these 5,700 stores currently receive their service same day.

The sale of automotive parts, accessories and maintenance items is highly competitive due to numerous factors, including name recognition, product availability, customer service, store location and price.

AutoZone competes in the aftermarket auto parts industry, which includes both the retail DIY and commercial do-it-for-me (“DIFM”) auto parts and products markets.

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, tools and maintenance parts.

AutoZone competes on the basis of customer service, including the knowledge and expertise of our AutoZoners;

merchandise quality, selection and availability;

product warranty;

store layouts, location and convenience;

1 unchanged sentence

Trademarks and Patents

We have registered several service marks and trademarks in the United States Patent and Trademark Office as well as in

certain other countries, including our service marks:

AutoZone, AutoZone Rewards, Get in the Zone, Parts Are Just Part of What We Do, ProVantage, The Best Parts in Auto Parts,

Zone and trademarks:

ALLDATA Collision, ALLDATA Manage, ALLDATA Mobile, ALLDATA Repair, ALLDATA Tech-Assist, AutoZone, AutoZone & Design,

Duralast, Duralast Aero Blade, Duralast Flex Blade, Duralast Gold, Duralast Gold Cmax, Duralast GT, Duralast Platinum, Duralast ProPower, Duralast

ProPower Plus, Duralast ProPower Ultra, Duralast ProPower AGM, Duralast Max, Econocraft, Loan-A-Tool,

ProElite, ProElite & Design, SureBilt, TruGrade, Valucraft, V & Design, and Z-net. We believe that these

service marks and trademarks are important components of our marketing and merchandising strategies.

We have registered several service marks and trademarks in the United States Patent and Trademark Office as well as in certain other countries, including our service marks:

“AutoZone,” “AutoZone Rewards,” “Get in the Zone,” “Parts Are Just Part of What We Do,” “ProVantage,” “The Best Parts in Auto Parts,” “Zone” and trademarks:

“ALLDATA Collision,” “ALLDATA Manage,” “ALLDATA Mobile,” “ALLDATA Repair,” “ALLDATA Tech-Assist,” “AutoZone,” “AutoZone & Design,” “Duralast,” “Duralast Aero Blade,” “Duralast Flex Blade,” “Duralast Gold,” “Duralast Gold Cmax,” “Duralast GT,” “Duralast Platinum,” “Duralast ProPower,” “Duralast ProPower Plus,” “Duralast ProPower Ultra,” “Duralast ProPower AGM,” “Duralast Max,” “Econocraft,” “Loan-A-Tool,” “ProElite,” “ProElite & Design,” “SureBilt,” “TruGrade,” “Valucraft,” “V & Design” and “Z-net.” We believe that these service marks and trademarks are important components of our marketing and merchandising strategies.

As of August 29, 2020, we employed approximately 100,000 persons, approximately 60 percent of whom were employed full-time.

About 90 percent of

our AutoZoners were employed in stores or in direct field supervision, approximately 5 percent in distribution centers and approximately 5 percent in store support and other functions.

Included in the above numbers are approximately 10,000

persons employed in our Mexico and Brazil operations.

We have never experienced any material labor disruption and believe that relations with our

AutoZoners are good.

Our business is somewhat seasonal in nature, with the highest sales typically occurring in the spring and summer months of February through September, in which

average weekly per-store sales historically have been about 10% to 20% higher than in the slower months of December and January.

During short periods of time, a stores sales can be affected by weather

About 91 percent of our AutoZoners were employed in stores or in direct field supervision, approximately 6 percent in distribution centers and approximately 3 percent in store support and other functions.

Included in the above numbers are approximately 10,000 persons employed in our Mexico and Brazil operations.

We have never experienced any material labor disruption and believe that relations with our AutoZoners are good.

Our business is somewhat seasonal in nature, with the highest sales typically occurring in the spring and summer months of February through September, in which average weekly per-store sales historically have been about 10% to 25% higher than in the slower months of December and January.

During short periods of time, a store’s sales can be affected by weather conditions.

Extremely hot or extremely cold weather may enhance sales by causing parts to fail;

thereby increasing sales of seasonal products.

Mild or rainy weather tends to soften sales, as parts failure rates are lower in mild weather and elective

maintenance is deferred during periods of rainy weather.

Over the longer term, the effects of weather balance out, as we have locations throughout the Americas.

Mild or rainy weather tends to soften sales, as parts failure rates are lower in mild weather and elective maintenance is deferred during periods of rainy weather.

Over the longer term, we believe the effects of weather balance out, as we have locations throughout the Americas.

AutoZone Websites

AutoZone’s primary website is at www.autozone.com.

We make available, free of charge, at www.autozone.com, by clicking Investor Relations

located at the bottom of the page, 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 we electronically file such material with, or furnish it to, the Securities and Exchange Commission (the SEC).

Our website and the information contained therein or linked thereto are not

intended to be incorporated into this Annual Report on Form 10-K.

We make available, free of charge, at www.autozone.com, by clicking “Investor Relations” located at the bottom of the page, 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 we electronically file such material with, or furnish it to, the Securities and Exchange Commission (“the SEC”).

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

Information about our Executive Officers

The following list describes our executive officers, which are elected by and serve at the discretion of the Board of Directors.

The title of each executive

officer includes the words Customer Satisfaction which reflects our commitment to customer service.

54 Chairman, President and Chief Executive Officer, Customer Satisfaction

Rhodes, III, was named Chairman of AutoZone during

fiscal 2007 and has been President, Chief Executive Officer and a director since March 2005.

The title of each executive officer includes the words “Customer Satisfaction” which reflects our commitment to customer service.

Rhodes, III, 55—Chairman, President and Chief Executive Officer, Customer Satisfaction

Rhodes, III, was named Chairman of AutoZone during fiscal 2007 and has been President, Chief Executive Officer and a director since March 2005.

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

4 unchanged sentences

Rhodes is a member of the Board of Directors for Dollar General Corporation.

Giles, 60 Chief Financial Officer and Executive Vice President Finance, Information Technology and Store Development,

Customer Satisfaction

Giles was named Chief Financial Officer during May 2006.

He has also held other responsibilities at various

times including Executive Vice President of Finance, Information Technology, ALLDATA and Store Development.

From 1991 to May 2006, he held several positions with Linens N Things, Inc., most recently as the Executive Vice President and Chief

Financial Officer.

Giles, 61—Chief Financial Officer and Executive Vice President – Finance, Information Technology and Store Development, Customer Satisfaction

Giles was named Chief Financial Officer during May 2006 and has notified the Company of his intent to retire, effective December 31, 2020.

He has also held other responsibilities at various times including Executive Vice President of Finance, Information Technology, ALLDATA and Store Development.

From 1991 to May 2006, he held several positions with Linens N’ Things, Inc., most recently as the Executive Vice President and Chief Financial Officer.

Prior to 1991, he was with Melville, Inc.

1 unchanged sentence

Giles is a member of the Board of Directors for Brinker International.

Jamere Jackson, 51—Chief Financial Officer and Executive Vice President – Finance and Store Development-Elect, Customer Satisfaction

Jamere Jackson was named Executive Vice President and Chief Financial Officer-Elect on September 13, 2020 and Chief Financial Officer and Executive Vice President – Finance and Store Development effective January 1, 2021.

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

Hertz Global Holdings, Inc.

filed Chapter 11 bankruptcy on May 22, 2020.

From 2014 to 2018, Mr.

Jackson served as Chief Financial Officer of Nielsen Holdings plc, an information, data and measurement company.

Prior to 2014, Mr.

Jackson held a variety of leadership roles at General Electric Company, including Vice President and Chief Financial Officer of a division of General Electric Oil and Gas.

Jackson serves on the Board of Directors for Eli Lilly & Co.

and Hibbett Sports, Inc.

Finestone, 59—Executive Vice President – Merchandising, Supply Chain and Marketing, Customer Satisfaction

Finestone was named Executive Vice President – Merchandising, Supply Chain and Marketing during October 2015.

Previously, he was Senior

Vice President Merchandising and Store Development since 2014, Senior Vice President Merchandising from 2008 to 2014, and Vice President Merchandising from 2002 to 2008.

Previously, he was Senior Vice President – Merchandising and Store Development since 2014, Senior Vice President – Merchandising from 2008 to 2014, and Vice President – Merchandising from 2002 to 2008.

Prior to joining AutoZone in 2002, Mr.

worked for May Department Stores for 19 years where he held a variety of leadership roles which included Divisional Vice President, Merchandising.

Finestone also serves as Chairman of the Auto Care Association.

Finestone worked for May Department Stores for 19 years where he held a variety of leadership roles which included Divisional Vice President, Merchandising.

Newbern, 58—Executive Vice President – Store Operations, Commercial, Loss Prevention and ALLDATA, Customer Satisfaction

Newbern was named Executive Vice President – Store Operations, Commercial, Loss Prevention and ALLDATA during February 2017.

that, he was Executive Vice President Store Operations, Commercial and Loss Prevention since October 2015.

Previously, he held the titles Senior Vice President Store Operations and Loss Prevention from 2014 to 2015, Senior Vice

President Store Operations and Store Development from 2012 to 2014, Senior Vice President Store Operations from 2007 to 2012 and Vice President Store Operations from 1998 to 2007.

Prior thereto, he served in

various capacities within the Company.

Prior to that, he was Executive Vice President – Store Operations, Commercial and Loss Prevention since October 2015.

Previously, he held the titles Senior Vice President – Store Operations and Loss Prevention from 2014 to 2015, Senior Vice President – Store Operations and Store Development from 2012 to 2014, Senior Vice President – Store Operations from 2007 to 2012 and Vice President – Store Operations from 1998 to 2007.

Prior thereto, he served in various capacities within the Company.

Daniele, 51—Senior Vice President – Commercial, Customer Satisfaction

Daniele was elected Senior Vice President – Commercial during November 2015.

Prior to that, he was Vice President Commercial since 2013

and Vice President Merchandising from 2008 to 2013.

Prior to that, he was Vice President – Commercial since 2013 and Vice President – Merchandising from 2008 to 2013.

Previously, he was Vice President – Store Operations from 2005 to 2008.

3 unchanged sentences

Frazer was named Senior Vice President, Store Operations in October 2019.

Prior to that he was Vice President, Stores and Store Operations Support

since 2018 and Vice President, Loss Prevention from 2015 to 2018.

Prior to that he was Vice President, Stores and Store Operations Support since 2018 and Vice President, Loss Prevention from 2015 to 2018.

Previously, he was Vice President, Internal Audit from 2010 to 2015.

1 unchanged sentence

Frazer served in various capacities within the Company.

joining AutoZone, Mr.

Prior to joining AutoZone, Mr.

Frazer was a senior manager with KPMG, LLP.

Griffin, 65 Senior Vice President and Chief Information Officer, Customer

Griffin, 66—Senior Vice President and Chief Information Officer, Customer Satisfaction

Griffin was elected Senior Vice President and Chief Information Officer during June 2012.

Prior to that, he was Senior Vice

President, Global Information Technology at Hewlett-Packard Company.

Prior to that, he was Senior Vice President, Global Information Technology at Hewlett-Packard Company.

During his tenure at Hewlett-Packard Company, he also served as the Chief Information Officer for the Enterprise Business Division.

Prior to that, Mr.

Griffin was Executive

Vice President and Chief Information Officer for Fleming Companies, Inc.

Griffin was Executive Vice President and Chief Information Officer for Fleming Companies, Inc.

He also spent over 12 years with The Home Depot, Inc., with the last eight years in the role of Chief Information Officer.

Griffin also served at Deloitte &

Touche LLP and Delta Air Lines, Inc.

Griffin also served at Deloitte & Touche LLP and Delta Air Lines, Inc.

Hackney, 55—Senior Vice President – Merchandising, Customer Satisfaction

Hackney was named Senior Vice President, Merchandising in October 2015.

His career with AutoZone began in 1983, and he has held several key

management roles within the Company, including Vice President Store Operations Support and Vice President Merchandising.

Hackney was named Senior Vice President, Merchandising in October 2015 and has notified the Company of his intent to retire, effective December 31, 2020.

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

Hurtado, 59—Senior Vice President – International, Customer Satisfaction

Domingo José

Hurtado Rodríguez was named

Senior Vice President, International in September 2018.

Prior to that, he was President, AutoZone de México.

Hurtado has served in various capacities within the Company since 2001, which included leading the Companys expansion

Hurtado Rodríguez was named Senior Vice President, International in September 2018.

Prior to that, he was President, AutoZone de México.

Hurtado has served in various capacities within the Company since 2001, which included leading the Company’s expansion into Mexico.

Prior to 2001, he held different positions with RadioShack including Director General in Mexico and General Manager in Venezuela.

1 unchanged sentence

Major was named Senior Vice President – Supply Chain in November 2018.

Previously, he served as Vice President Commercial Support since

September 2016 and prior to that he held the title of President, ALLDATA.

Previously, he served as Vice President - Commercial Support since September 2016 and prior to that he held the title of President, ALLDATA.

Major joined AutoZone in 2005.

1 unchanged sentence

Major worked for Family Dollar, Inc.

Ohm, 56—Senior Vice President – Merchandising, Customer Satisfaction

Ohm was named Senior Vice President – Merchandising on October 26, 2020.

Ohm served as the Group Commercial Development Officer for the Dairy Farm Group supporting development, sourcing, branding and packaging for private-label and exclusive brands in 7,000 retail outlets across 11 Southeast Asian countries.

Ohm also was the Chief Commercial Officer for Home Plus, the second largest retailer in Korea and led their merchandising, sourcing and planning teams.

Prior to these roles, she was Senior Vice President, General Merchandise Manager for both Walmart and Sam’s Club and Vice President/Divisional Merchandise Manager, Technology for Walmart Stores, Inc.

Ohm began her career with General Electric in marketing, planning, brand management and strategy development.

Charlie Pleas, III, 55—Senior Vice President and Controller, Customer Satisfaction

1 unchanged sentence

Prior to that, he was Vice President and Controller since 2003.

he was Vice President Accounting since 2000, and Director of General Accounting since 1996.

Previously, he was Vice President – Accounting since 2000, and Director of General Accounting since 1996.

Prior to joining AutoZone, Mr.

Pleas was a Division Controller with Fleming Companies, Inc.

where he served in various capacities since 1988.

where he served in various capacities during his tenure from 1988 to 1996.

Prior to 1988, he worked with Ernst & Young.

Pleas is a member of the Board of Directors for Kirkland’s Inc.

Albert Saltiel, 55 Senior Vice President Marketing

and E-Commerce, Customer Satisfaction

Albert Saltiel, 56—Senior Vice President – Marketing and E-Commerce, Customer Satisfaction

Albert Saltiel was named Senior Vice President – Marketing and E-Commerce during October 2014.

Previously, he was elected Senior Vice President – Marketing since 2013.

Prior to that, he was Chief Marketing Officer and a key member of the leadership team at Navistar

International Corporation.

Prior to that, he was Chief Marketing Officer and a key member of the leadership team at Navistar International Corporation.

Saltiel has also been with Sony Electronics as General Manager, Marketing, and Ford Motor Company where he held multiple marketing roles.

1 unchanged sentence

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

He has been an AutoZoner since 1985, previously holding the

position of Vice President of Stores since 1997.

He has been an AutoZoner since 1985, previously holding the position of Vice President of Stores since 1997.

Prior thereto, he served in various capacities within the Company.

43 Senior Vice President General Counsel & Secretary, Customer Satisfaction

Wright was named

Senior Vice President General Counsel & Secretary effective January 2014.

Wright, 44—Senior Vice President – General Counsel & Secretary, Customer Satisfaction

Wright was named Senior Vice President – General Counsel & Secretary effective January 2014.

She previously held the title of Vice President – Assistant General Counsel & Assistant Secretary since January 2012.

Before joining

AutoZone, she was a partner with the law firm of Bass, Berry & Sims PLC.

Before joining AutoZone, she was a partner with the law firm of Bass, Berry & Sims PLC.

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