What changed in this filing

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Item 1. Business

2023-10-24 compared with 2022-10-24 · 143 added, 110 removed, 197 unchanged (56% of the section changed)

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We began operations in 1979 and at August 26, 2023, operated 6,300 stores in the United States (“U.S.”), 740 stores in Mexico and 100 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 27, 2022, in 5,342 of our domestic stores we 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 sell the ALLDATA brand automotive diagnostic, repair and shop management software through www.alldata.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.

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

At August 26, 2023, in 5,682 of our domestic stores as well as the vast majority of our stores in Mexico and Brazil, we had a commercial sales program that provided commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations, fleet owners and other accounts.

We also 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, we sell the ALLDATA brand of automotive diagnostic, repair, collision and shop management software through www.alldata.com.

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

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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 leveraging our business resource groups to support AutoZoners with common interests or backgrounds contribute their voices, time, and talent to helping AutoZoners succeed in their careers.

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

As of August 26, 2023, we employed approximately 119,000 AutoZoners, approximately 60 percent of whom were employed full-time and the remaining 40 percent were employed part-time.

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 14,500 persons employed in our international operations.

Included in the above numbers are approximately 15,500 AutoZoners employed in our international operations.

We have never experienced any material labor disruption, do not have any collective bargaining agreements and believe that relations with our AutoZoners are good.

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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.

Many members of our senior leadership team have held positions in two or more areas of the business.

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

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

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

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

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

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

The AutoZone Pledge and Values drive our success and foster a strong, unique culture of teamwork and customer service.

We encourage the recognition of AutoZoners for a variety of accomplishments, such as going above and beyond to deliver Trustworthy Advice and WOW!

Customer Service, taking initiative to prevent incidents and injuries, making contributions to help detect or report internal or external theft or providing significant service to

We encourage the recognition of AutoZoners for a variety of accomplishments, such as going above and

beyond to deliver Trustworthy Advice and WOW!

Customer Service, taking initiative to prevent incidents and injuries, making contributions to help detect or report internal or external theft or providing significant service to help others.

Whether they work in our stores, distribution centers, support centers or travel to support our customers and business, we believe AutoZoners everywhere should be recognized for their efforts and outstanding performance.

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“Embraces Diversity” is one of our Values, and we have made great strides in our DEI initiatives.

With the oversight and support of a cross-functional Diversity Council and DEI Steering Committee, our DEI efforts influence and inform many parts of our human capital management function including talent acquisition, retention, professional development and workforce management.

With the oversight and support of a cross-functional Diversity Council and DEI Steering Committee, 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 business resource group (“BRG”) was established in 2014 (AutoZone Women’s Initiative).

Since then, five other BRGs now support AutoZoners who share common interests or backgrounds and have a mission to contribute their voices, time and talent to helping AutoZoners succeed and grow in their careers.

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

Health and Safety

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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 Corporate Social Responsibility (“CSR”) Report, which is available on our website.

Our CSR 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 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 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”).

Store Operations

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

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.

In our satellite stores, approximately 40% to 50% of our space is dedicated to hard parts inventory, while our hub and mega hub stores 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 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

Store Personnel Training and Incentives

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;

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Training is supplemented with frequent store visits by management.

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

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

Store Support Centers

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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.

In addition, we have offices in Shanghai, China and Haryana, India that provide sourcing, technology or other support functions.

Store Automation

All of our stores have Z-net, our proprietary electronic catalog that enables our AutoZoners to efficiently look up the parts that our customers need and to provide complete job solutions, advice and information for customer vehicles.

Z-net provides parts information based on the year, make, model and engine type of a vehicle and also tracks inventory availability at the store, at other nearby stores and through special order.

All of our stores have Z-net, our proprietary electronic catalog that enables our AutoZoners to efficiently look up the parts that our customers need and provide complete job solutions, advice and information for customer vehicles.

Z-net provides parts information based on year, make, model and engine type of a vehicle and also tracks inventory availability at the store, at other nearby stores and through special order.

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

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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.

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.

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

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 smartphone application.

Through our hub and mega hub stores, we offer a greater range of parts and products desired by professional technicians.

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

Through our hub and mega hub stores, we offer a greater range 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.

Store Development

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

(1) 26 Interamerican Motor Corporation (“IMC”) branches sold on April 4, 2018.

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

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

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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.

We believe our stores are “destination stores,” generating their own traffic, therefore we situate most stores on major thoroughfares with easy access and good parking.

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

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Our electronic parts catalog assists in the selection of parts as well as identifying any associated warranties 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 or same day delivery programs in most of our U.S.

In addition to our in-store offerings, 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 or same day delivery programs in most of our U.S.

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

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Steering Wheel Covers

Stereos & Radios

Vehicle Entertainment Systems

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

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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 our inventory matches the products our customers need or desire.

We are continuously updating the products we offer to ensure 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, Shop Pro, SureBilt, TotalPro, TruGrade and Valucraft.

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

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

Digital and broadcast media are our primary advertising methods of driving retail traffic, 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.

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

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

Batteries, 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.

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

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

Purchasing and Supply Chain

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Monterrey, Mexico and Sao Paulo, Brazil.

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

In fiscal 2022, one class of similar products accounted for approximately 13 percent of our total revenues, and one vendor supplied approximately 8 percent of our total purchases.

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

Additionally, we have offices in Shanghai, China, Haryana, India and Istanbul, Turkey to support our global sourcing efforts.

In fiscal 2023, one class of similar products accounted for approximately 14 percent of our total revenues.

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

We believe 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 2022 with 272 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.

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

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

We ended fiscal 2023 with 308 domestic and 39 international 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 of our domestic hub stores, we ended fiscal 2022 with 78 domestic mega hubs, an increase of 20 since the end of fiscal 2021.

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 80,000 to 110,000 unique SKUs, approximately twice what a hub store carries.

As a subset of our domestic hub stores, we ended fiscal 2023 with 98 mega hubs, an increase of 20 since the end of fiscal 2022.

Additionally, we have two mega hubs in Mexico.

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

A mega hub carries inventory of 80,000 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.

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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;

AutoZone competes on the basis of customer service, including the knowledge and expertise of our AutoZoners and our ability to provide prompt delivery to commercial customers;

merchandise quality, selection and availability;

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

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

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

Our trademark registrations have various expiration dates;

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AutoZone Websites

Our primary website is at www.autozone.com.

Our primary website is 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 SEC.

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Rhodes, III, 58—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, he served in various capacities within the Company since 1994.

Prior to 1994, he was a manager with Ernst & Young LLP.

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

Jamere Jackson, 53—Executive Vice President, Chief Financial Officer and Store Development, Customer Satisfaction

Jamere Jackson joined AutoZone on September 13, 2020 as Executive Vice President and Chief Financial Officer.

Prior to joining AutoZone, from 2018 to 2020, he served as Executive Vice President and Chief Financial Officer of Hertz Global Holdings, Inc., a worldwide rental company.

From 2014 to 2018, he served as Chief Financial Officer of Nielsen Holdings plc, an information, data and measurement company.

Prior to 2014, he held a variety of leadership roles at General Electric Company.

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

Daniele, 53—Executive Vice President — Merchandising, Supply Chain and Marketing, Customer Satisfaction

Daniele was named Executive Vice President – Merchandising, Supply Chain and Marketing in June 2021.

Previously, he served as Senior Vice President – Commercial from 2015 to 2021, Vice President – Commercial Support from 2013 to 2015 and Vice President – Merchandising from 2008 to 2013.

He was also a Divisional Vice President – Store Operations from 2005 to 2008.

Rhodes, III has served as AutoZone’s President and Chief Executive Officer, and a director since 2005 and was named Chairman in 2007.

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

Rhodes served in various capacities within the Company since 1994.

Prior to 1994, Mr.

Rhodes was a manager with Ernst & Young LLP.

As previously announced, Mr.

Rhodes has notified the Board of his intention to relinquish his roles as President and Chief Executive Officer, effective January 2024, and the Board intends to appoint Mr.

Rhodes to the role of Executive Chairman at such time.

Daniele III, 54—CEO-Elect, Customer Satisfaction

Daniele III was named CEO-Elect in June 2023.

Previously Mr.

Daniele had served as Executive Vice President – Merchandising, Marketing and Supply Chain from June 2021 to September 2023.

The Board of Directors intends to appoint Mr.

Daniele to the role of Chief Executive Officer and also appoint him to serve on the

Board in January 2024.

Previously, Mr.

Daniele served as Senior Vice President – Commercial from 2015 to 2021, Vice President – Commercial Support from 2013 to 2015 and Vice President – Merchandising from 2008 to 2013.

Daniele was also a Divisional Vice President – Store Operations from 2005 to 2008.

Prior to 2005, Mr.

Daniele held several other key management positions with the Company.

Frazer, 46—Executive Vice President – Store Operations, Commercial and Loss Prevention, Customer Satisfaction

Frazer was named Executive Vice President – Store Operations, Commercial and Loss Prevention in June 2021.

From 2019 to 2021, he was Senior Vice President – Store Operations.

Prior to that, he was Vice President – Store Operations Support.

He began his career with AutoZone in 2006 in Finance and has held several key functional roles of increasing responsibility.

Jamere Jackson, 54—Chief Financial Officer, Customer Satisfaction

Jamere Jackson was named Chief Financial Officer in January 2021 and, in that capacity, leads the Finance and Store Development teams.

Jackson also held the title of Executive Vice President from January 2021 until his promotion in September 2023.

Prior to joining AutoZone, Mr.

Frazer was a senior manager with the accounting firm of KPMG, LLP.

Newbern, 60—Executive Vice President – International, Information Technology and ALLDATA, Customer Satisfaction

Newbern was named Executive Vice President – International, Information Technology and ALLDATA in June 2021.

From 2015 to 2021, he was Executive Vice President – Store Operations, Commercial, Loss Prevention and ALLDATA.

From 2013 to 2015, he was Senior Vice President – Store Operations and Loss Prevention.

From 2012 to 2013, he was Senior Vice President – Store Operations and Store Development.

From 2007 to 2012, he was Senior Vice President – Store Operations, and from 1998 to 2007, he was Divisional Vice President –Store Operations.

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

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.

Newbern held several other key management positions with the Company.

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.

Newbern, 61—Chief Operating Officer, Customer Satisfaction

Newbern was named Chief Operating Officer in September 2023.

Since March 2023, Mr.

Newbern served as Executive Vice President Operations, Sales and Technology.

From 2015 to March 2023, Mr.

Newbern served as Executive Vice President overseeing Store Operations, Commercial, International, Information Technology, Loss Prevention and ALLDATA in different capacities.

From 2007 to 2015, Mr.

Newbern served as Senior Vice President overseeing Store Operations and Commercial.

From 1998 to 2007, Mr.

Newbern was Divisional Vice President – Store Operations.

Newbern began his career with AutoZone in 1985.

Hackney, 58—Executive Vice President – Merchandising, Marketing and Supply Chain, Customer Satisfaction

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

Previously, Mr.

Hackney served as Senior Vice President, Merchandising, since rejoining the Company in October 2022 after a brief retirement.

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.

Bedsole, 52—Senior Vice President, General Counsel & Secretary, Customer Satisfaction

Bedsole was named Senior Vice President, General Counsel & Secretary in April 2023.

Prior to joining AutoZone, Ms.

Bedsole was a partner with the law firm of Baker, Donelson, Bearman, Caldwell and Berkowitz P.C.

since 2011, where she chaired the Labor and Employment practice group.

Michelle Borninkhof, 49 — Senior Vice President and Chief Information Officer, Customer Satisfaction

Michelle Borninkhof was named Senior Vice President and Chief Information Officer during April 2021.

Prior to that, she was Chief Information Officer and Vice President for U.S.

Michelle Borninkhof was named Senior Vice President and Chief Information Officer in April 2021.

Prior to that, Ms.

Borninkhof was Chief Information Officer and Vice President for U.S.

Technology at McDonald’s since 2018.

Prior to joining McDonald’s, she spent 11 years with Walmart Stores holding various leadership roles including Vice President – International Technology Delivery.

Prior to joining McDonald’s, Ms.

Borninkhof spent 11 years with Walmart Stores holding various leadership roles including Vice President – International Technology Delivery.

Throughout her career, Ms.

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

Frazer, 47—Senior Vice President – Finance, Store Development and Strategy, Customer Satisfaction

Frazer was named Senior Vice President Finance, Store Development and Strategy in March 2023.

From 2021 to 2023 Mr.

Frazer served as Executive Vice President – Store Operations, Commercial and Loss Prevention.

From 2019 to 2021 Mr.

Frazer served as Senior Vice President – Store Operations.

Prior to that, Mr.

Frazer was Vice President – Store Operations Support.

Frazer began his career with AutoZone in 2006 in Finance and has held several key functional roles.

Prior to joining AutoZone, Mr.

Frazer was a senior manager with the accounting firm of KPMG, LLP.

Gould, 54—Senior Vice President – Supply Chain, Customer Satisfaction

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

From 2017 to 2021, he served as Vice President, Supply Chain Replenishment and from 2013 to 2017 he served as Vice President – Commercial Sales.

He was also Vice President – Replenishment from 2003 to 2013.

Prior to 2003, Mr.

Gould held several other key management positions within the Company.

From 2017 to 2021, Mr.

Gould served as Vice President, Supply Chain Replenishment.

Prior to that, Mr.

Gould held several key management

positions with the Company, including Vice President of Commercial, Commercial Support and Merchandising Pricing & Analysis.

Hurtado, 62—Senior Vice President – International, Customer Satisfaction

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

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

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

Prior to that, Mr.

Hurtado was President – AutoZone de México.

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

Prior to 2001, Mr.

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LeRiche was named Senior Vice President – Store Operations in June 2021.

From 2015 to 2021, he was a Divisional Vice President – Store Operations.

From 2015 to 2021, Mr.

LeRiche was a Divisional Vice President – Store Operations.

Prior to 2015, Mr.

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McGee, 61—Senior Vice President – Commercial, Customer Satisfaction

McGee was named Senior Vice President – Commercial in June 2021.

From 2007 to 2021, he was a Divisional Vice President – Store Operations.

From 2004 to 2007, he was Vice President – Commercial.

McGee was named Senior Vice President – Commercial in June 2021 and has notified the Company of his intent to retire, effective around the end of the 2023 calendar year.

From 2007 to 2021, Mr.

McGee was a Divisional Vice President – Store Operations.

From 2004 to 2007, Mr.

McGee was Vice President – Commercial.

Prior to 2004, Mr.

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Charlie Pleas, III, 58— Senior Vice President – Accounting and Finance, Customer Satisfaction

Charlie Pleas, III, became Senior Vice President, Finance and Accounting in December, 2021.

He was named Senior Vice President and Controller during 2007.

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

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

Prior to joining AutoZone, he was a Division Controller with Fleming Companies, Inc.

Charlie Pleas, III, became Senior Vice President, Finance and Accounting in December 2021 and has notified the Company of his intent to retire, effective around the end of the 2023 calendar year.

Pleas was named Senior Vice President and Controller during 2007.

Prior to that, Mr.

Pleas held several key management positions within the Company’s accounting department.

Prior to joining AutoZone, Mr.

Pleas was a Division Controller with Fleming Companies, Inc.

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

Prior to 1988, he worked with Ernst & Young.

Prior to 1988, Mr.

Pleas worked with Ernst & Young.

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

Albert Saltiel, 59—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 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.

Albert Saltiel was named Senior Vice President – Marketing and E-Commerce during October 2014 and has notified the Company of his intent to retire, effective around the end of the 2023 calendar year.

Previously, Mr.

Saltiel was Senior Vice President – Marketing since 2013.

Prior to that, Mr.

Saltiel 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.

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Prior thereto, Mr.

Smith served in various capacities within the Company.

Wright, 46—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, Ms.

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

Hackney, 57—Senior Vice President – Merchandising, Customer Satisfaction

Hackney was named Senior Vice President, Merchandising in October 2022.

He had previously served in this role from October 2015 until his retirement on 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, before returning to AutoZone.

Smith served in various key positions within the Company.

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