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AutoZone's 1st Quarter Sales up

7 December 1999

AutoZone's 1st Quarter Sales up 12% to $1 Billion; EPS up 18% to $.40

    MEMPHIS, Tenn., Dec. 6 -- AutoZone, Inc. , today
reported net income for the 12 weeks ended November 20, 1999, of
$56.0 million, an increase of 9% from $51.3 million for the fiscal first
quarter of 1999.  Diluted earnings per share increased 18% to 40 cents from
34 cents.
    Sales for the quarter rose 12% to $1.006 billion from $901 million a year
earlier.  Total comparable store sales, or sales at stores opened prior to the
start of fiscal 1999, rose 7%.  Comparable store sales for core AutoZone
stores increased 5% for the quarter, while comparable store sales increased
27% at the former Auto Palace stores and 24% at the former Chief stores.
    "We're very pleased with the results of our first distraction-free quarter
since we began our aggressive acquisition schedule and with how quickly our
acquired stores have come to understand the importance of our culture," said
John C. Adams Jr., chairman and chief executive officer.  "This shows what can
happen when we're able to direct our energy on the core business and fully
focus on customer service."
    During the quarter, AutoZone opened 87 new auto parts stores in the U.S.
and two in Mexico.  In addition, 13 AutoZone stores and one TruckPro store
were replaced. Two Chief stores were closed.
    Also during the quarter, the company repurchased $152 million of its
common stock.  Cumulative share repurchases to date, including forward
commitments, are $475 million and 18 million shares.
    AutoZone sells auto and light truck parts, chemicals and accessories
through 2,796 AutoZone stores in 40 states in the U.S. and eight AutoZone
stores in Mexico.  AutoZone also sells heavy-duty truck parts through
46 TruckPro stores in 14 states, automotive diagnostic and repair software
through ALLDATA and diagnostic and repair information through alldatadiy.com
    Certain statements contained in this press release are forward-looking
statements.  These statements discuss, among other things, expected growth,
domestic and international development and expansion strategy, business
strategies and future performance.  These forward-looking statements are
subject to risks, uncertainties and assumptions, including without limitation,
competition, product demand, domestic and international economies, government
approvals, inflation, the ability to hire and retain qualified employees,
consumer debt levels and the weather.  Actual results may materially differ
from anticipated results. Please refer to the Risk Factors section of Form
10-K for the year ended August 28, 1999, for more details.

           AUTOZONE FISCAL 1ST QUARTER FINANCIAL HIGHLIGHTS
              (In Thousands, Except Per-Share Data)


                               12 Weeks Ended         12 Weeks Ended
                              November 20, 1999      November 21, 1998

    Net sales                  $1,006,472                $900,949

    Gross profit                 $421,516                $376,482

    Operating profit             $105,748                $ 89,815

    Income before
    income taxes                  $91,144                $ 81,300

    Net income                    $56,044                $ 51,300

    Net income per share:
      Basic                         $0.40                   $0.34
      Diluted                       $0.40                   $0.34

    Weighted average shares:
      Basic                       139,261                 150,762
      Diluted                     140,056                 151,568