AutoZone Reports 7%-8% Quarter-to-Date Same Store Sales Growth

MEMPHIS, Tenn., Oct. 31 -- AutoZone, Inc. , announced today that quarter-to-date same store sales growth was in the 7% -8% range.

For the same period, AutoZone has realized the gross margin and expense ratio improvements that were discussed in its most recent conference call. A replay of this call is available on AutoZone's website, http://www.AutoZone.com , by clicking "About Us," "Investor Relations" "Conference Calls." AutoZone's first fiscal quarter ends on November 17, 2001.

AutoZone has also continued to experience strong positive cash flow, resulting in a reduction in debt outstanding compared to the same period a year ago. Further, interest rates on short term borrowings are below year ago levels, and the Company continues to show accretion to earnings per share from its previous stock repurchases. With these initial results, the Company is very comfortable that it will exceed the current Thomson/First Call consensus estimate of $0.57 for its first quarter. AutoZone plans to announce first quarter results on December 13, 2001, in connection with its annual stockholders' meeting, which will be webcast on the AutoZone website. As of August 25, 2001, AutoZone sells auto and light truck parts, chemicals and accessories through 3,019 AutoZone stores in 42 states plus the District of Columbia in the U.S. and 21 AutoZone stores in Mexico, and automotive diagnostic and repair software through ALLDATA, diagnostic and repair information through alldatadiy.com, and auto and light truck parts through AutoZone.com .