AutoZone
AZO
#532
Rank
โ‚น4.454 T
Marketcap
โ‚น2,75,405
Share price
-1.80%
Change (1 day)
-24.05%
Change (1 year)
AutoZone, Inc. is an American retailer of aftermarket automotive parts and accessories.
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<center><b><font size=+1>SECURITIES AND EXCHANGE COMMISSION</font></b>
<br>Washington, D.C. 20549
<p>_____________
<p><b><font size=+2>Form 10-K</font></b></center>

<p>[X]&nbsp;&nbsp;&nbsp;&nbsp; Annual Report under section 13 or 15(d)
of the Securities Exchange Act of 1934 for the fiscal year ended
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; August 28, 1999,
or
<p>[&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp; Transition report pursuant to section
13 or 15(d) of the Securities Exchange Act of 1934 For the transition period
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; from _____to
_____.
<p>Commission file number 1-10714
<center>
<p><b><font size=+2>AUTOZONE, INC.</font></b>
<br><font size=-1>(Exact name of registrant as specified in its charter)</font></center>

<center><table CELLSPACING=0 CELLPADDING=7 WIDTH="638" >
<tr>
<td VALIGN=TOP WIDTH="33%">
<center><b>Nevada</b>
<br><font size=-1>(State or other jurisdiction of incorporation or organization)</font></center>
</td>

<td VALIGN=TOP WIDTH="33%">&nbsp;</td>

<td VALIGN=TOP WIDTH="33%">
<center><b>62-1482048</b>
<br><font size=-1>(I.R.S. Employer Identification No.)</font></center>
</td>
</tr>
</TABLE></center>

<center>
<p><b>123 South Front Street, Memphis, Tennessee 38103</b>
<br><font size=-1>(Address of principal executive offices) (Zip Code)</font>
<p><b>(901) 495-6500</b>
<br><font size=-1>Registrant's telephone number, including area code</font></center>

<p>Securities registered pursuant to Section 12(b) of the Act:
<br>&nbsp;
<center><table BORDER CELLPADDING=7 WIDTH="516" >
<tr>
<td VALIGN=TOP WIDTH="47%">
<center><b>Title of each class</b></center>
</td>

<td VALIGN=TOP WIDTH="53%">
<center><b>Name of each exchange</b>
<br><b>on which registered</b></center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="47%">
<center>Common Stock
<br>($.01 par value)</center>
</td>

<td VALIGN=TOP WIDTH="53%">
<center>New York Stock Exchange</center>
</td>
</tr>
</TABLE></center>

<p>Securities registered pursuant to Section 12(g) of the Act:&nbsp; None
<p>Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [&nbsp;
]
<p>Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K 0(&sect; 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K. [X]
<p>The aggregate market value of the 126,263,042 shares of voting stock
of the registrant held by non-affiliates of the registrant (excluding,
for this purpose, shares held by officers, directors, or 10% stockholders)
was $3,432,776,454 based on the last sales price of the Common Stock on
October 12, 1999 as reported on the New York Stock Exchange. The number
of shares of Common Stock outstanding as of October 12, 1999, was 138,935,636.
<p>
<center><b>Documents Incorporated By Reference</b></center>

<p>Portions of the Annual Report to Stockholders for the year ended August
28, 1999, are incorporated by reference into Parts I and II.
<p>Portions of the definitive Proxy Statement dated October 25, 1999, for
the Annual Meeting of Stockholders to be held December 9, 1999, are incorporated
by reference into Part III.
<p>
<hr WIDTH="100%">
<center><b>TABLE OF CONTENTS</b></center>

<p><br>
<br>
<br>
<br>
<br>
<p><a href="#_Toc467138059">PART I</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Item 1"> Item 1.
Business</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Intro">Introduction</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Marketing">Marketing and Merchandising Strategy</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Dev">Store Development and Expansion Strategy</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#opers">Store Operations</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Purchase">Purchasing and Distribution</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Comp">Competition</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Marks">Trademarks and Patents</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Employes">Employees</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Executive">Executive Officers of the Registrant</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<a href="#Risk">RISK FACTORS</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#Property"> Item
2. Properties</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Legal">Item 3.
Legal Proceedings</a>
<p><a href="#_Toc467138073">PART II</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 5">Item 5.
Market for Registrant's Common Stock and Related Stockholder Matters</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 6">Item 6.
Selected Financial Data</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 7">Item 7.
Management's Discussion and Analysis of Financial Condition and Results
of Operations</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 7A">Item
7A. Quantitative and Qualitative Disclosures About Market Risk</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 8">Item 8.
Financial Statements and Supplementary Data</a>
<p><a href="#_Toc467138079">PART III</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 10">Item
10. Directors and Officers of the Registrant</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 11">Item
11. Executive Compensation</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 12">Item
12. Security Ownership of Certain Beneficial Owners and Management</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 13">Item
13. Certain Relationships and Related Transactions</a>
<p><a href="#Part 4">PART IV</a>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#Item 14">Item
14. Exhibits, Financial Statement Schedules, and Reports On Form 8-K</a>
<p><a href="#Sigs">SIGNATURES</a>
<p><a href="#Sched2">VALUATION AND QUALIFYING ACCOUNTS</a>
<p><a href="#Exhibits">EXHIBIT INDEX</a>
<p>
<br>
<hr WIDTH="100%">
<center>
<p><b>Forward-Looking Statements</b></center>

<p>Certain statements contained in this Annual Report on Form 10-K are
forward-looking statements. These statements discuss, among other things,
expected growth, domestic and international development and expansion strategy,
business strategies, and future performance. The 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 this Form 10-K for more details.
<br>&nbsp;
<p>
<hr WIDTH="100%">
<center><a NAME="_Toc467138059"></a><b>PART I</b></center>

<p><a NAME="Item 1"></a><b>Item 1. Business</b>
<p><a NAME="Intro"></a><b><u>Introduction</u></b>
<p>We are the nation's leading specialty retailer of automotive parts and
accessories, primarily focusing on do-it-yourself customers. We began operations
in 1979 and at August 28, 1999, operated 2,711 auto parts stores in 39
states and six in Mexico. Each auto parts store carries an extensive product
line for cars, vans and light trucks, including new and re-manufactured
automotive hard parts, maintenance items, and accessories. At August 28,
1999, 1,377 of our domestic auto parts stores also had a commercial sales
program, which provides commercial credit and prompt delivery of parts
and other products to local repair garages, dealers and service stations.
We do not sell tires nor do we perform automotive repairs or installations.
<p>In addition, we sell heavy-duty truck parts and accessories through
46 TruckPro stores and automotive diagnostic and repair information software
through our ALLDATA subsidiary.
<p>At August 28, 1999, our auto parts stores were in the following locations:
<br>&nbsp;
<center><table BORDER=0 CELLSPACING=2 CELLPADDING=7 WIDTH="548" BORDERCOLOR="#808080" >
<tr>
<td VALIGN=TOP WIDTH="25%">Alabama
<br>Arizona
<br>Arkansas
<br>California
<br>Colorado
<br>Connecticut
<br>Delaware
<br>Florida
<br>Georgia
<br>Illinois
<br>Indiana
<br>Iowa
<br>Kansas
<br>Kentucky</td>

<td ALIGN=RIGHT VALIGN=TOP NOWRAP WIDTH="8%">
<div align=right>82
<br>74
<br>46
<br>374
<br>38
<br>20
<br>4
<br>132
<br>100
<br>103
<br>96
<br>22
<br>41
<br>55</div>
</td>

<td VALIGN=TOP WIDTH="25%">Louisiana
<br>Maryland
<br>Massachusetts
<br>Michigan
<br>Mississippi
<br>Missouri
<br>Nevada
<br>New Hampshire
<br>New Jersey
<br>New Mexico
<br>New York
<br>North Carolina
<br>Ohio
<br>Oklahoma</td>

<td VALIGN=TOP NOWRAP WIDTH="8%">
<div align=right>78
<br>14
<br>52
<br>83
<br>66
<br>80
<br>26
<br>10
<br>9
<br>24
<br>69
<br>94
<br>179
<br>62</div>
</td>

<td VALIGN=TOP NOWRAP WIDTH="24%">Pennsylvania
<br>Rhode Island
<br>South Carolina
<br>Tennessee
<br>Texas
<br>Utah
<br>Vermont
<br>Virginia
<br>Washington, DC
<br>West Virginia
<br>Wisconsin
<br>Wyoming
<br>Mexico
<br>TOTAL</td>

<td VALIGN=TOP WIDTH="11%">
<div align=right>60
<br>13
<br>51
<br>109
<br>335
<br>20
<br>1
<br>49
<br>6
<br>14
<br>17
<br>3
<br><u>___6</u>
<br><u>2,717</u></div>
</td>
</tr>
</TABLE></center>

<p><a NAME="Marketing"></a><b><u>Marketing and Merchandising Strategy</u></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We are dedicated to providing
customers with superior service, value, and quality parts selection at
conveniently located, well-designed stores. Key elements of this strategy
are:
<p><b><i>Customer Service</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We believe that our customers
value customer service; therefore, customer service is the most important
element in our marketing and merchandising strategy. We emphasize that
our AutoZoners should always put customers first. To do so, we employ parts
personnel with technical expertise to advise customers regarding the correct
part type and application, utilize a wide range of training methods to
educate and motivate our AutoZoners, and provide store personnel with significant
opportunities for promotion and incentive compensation. Our electronic
parts catalogs assist in the selection of parts; we offer free testing
of starters, alternators, batteries, sensors and actuators; and we were
among the first auto parts companies to offer lifetime warranties on many
of the parts we sell. Our satellite system in our auto parts stores helps
us to speed up credit card and check approval processes and locate parts
at neighboring AutoZone stores. Our auto parts stores generally open at
8 a.m. and close between 8 and 10 p.m. (with some open 24 hours) Monday
through Saturday and typically open at 9 a.m. and close between 6 and 8
p.m. on Sunday.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Through ALLDATA, we provide
electronic diagnostic and repair information. We offer the professional
technician a complete software package, and the do-it-yourselfer can purchase
vehicle-specific information on CD-ROM or via the internet at alldatadiy.com.
<p><b><i>Products</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This table shows the types
of products we sell in our auto parts stores:
<br>&nbsp;
<center><table BORDER=0 CELLSPACING=0 CELLPADDING=7 WIDTH="570" >
<tr>
<td VALIGN=TOP WIDTH="28%"><b><u>Hard Parts</u></b></td>

<td VALIGN=TOP WIDTH="33%"><b><u>Maintenance Items</u></b></td>

<td VALIGN=TOP WIDTH="18%"><b><u>Accessories</u></b></td>

<td VALIGN=TOP WIDTH="21%"><b><u>Miscellany</u></b></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="28%">Alternators
<br>Batteries
<br>Brake Drums, Rotors
<br>&nbsp;&nbsp; Shoes &amp; Pads
<br>Carburetors
<br>Clutches
<br>Engines
<br>Mufflers
<br>Shock Absorbers
<br>Spark Plugs
<br>Starters
<br>Struts
<br>Water Pumps</td>

<td VALIGN=TOP WIDTH="33%">Antifreeze
<br>Brake Fluid
<br>Oil
<br>Oil and Fuel Additives
<br>Oil, Air, and Fuel Filters Power Steering Fluid Transmission Fluid
<br>Wash and Wax Chemicals
<br>Windshield Wipers</td>

<td VALIGN=TOP WIDTH="18%">Floor Mats
<br>Lights
<br>Mirrors
<br>Stereos</td>

<td VALIGN=TOP WIDTH="21%">Air Fresheners Dent Filler
<br>Hand Cleaner
<br>Paint
<br>Repair Manuals
<br>Tools</td>
</tr>
</TABLE></center>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our auto parts stores generally
offer between 16,000 and 21,000 stock keeping units ("SKUs") covering a
broad range of vehicle types. Each auto parts store carries the same basic
product line with some regional differences based on climate, demographics
and age and type of vehicle registration. Our "flexogram" program enables
us to tailor our hard parts inventory to the makes and models of the automobiles
in each store's trade area. The auto parts stores sell a number of products,
including batteries, engines, starters, alternators, brake parts, and filters,
under our private label names. We also offer a range of products, consisting
principally of hard parts, through our express parts program, which provides
overnight delivery of lower turnover products to our auto parts stores.
<p><b><i>Pricing</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We employ an everyday low
price strategy and attempt to be the price leader in hard parts categories.
We believe that our prices overall compare favorably to those of our competitors.
<p><b><i>Commercial Sales Program</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our commercial sales program
in the auto parts stores provides credit and prompt delivery of parts and
other products to local repair garages, dealers and service stations. At
August 28, 1999, this program was offered in 1,377 auto parts stores. Commercial
customers generally pay the same everyday low prices as paid by do-it-yourself
customers.
<p><b><i>Store Design and Visual Merchandising</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We design and build stores
for a high visual impact. The typical AutoZone store has an industrial
"high tech" appearance by utilizing colorful exterior signage, exposed
beams and ductwork, and brightly lighted interiors. Maintenance products,
accessories, and miscellaneous items are attractively displayed for easy
browsing by customers, with specialized gravity-feed racks for batteries
and, in many stores, oil. We employ a uniform ("planogrammed") store layout
system to promote consistent merchandise presentation in all of our auto
parts stores. In-store signage and special displays aid customers in locating
merchandise and promoting products.
<br>&nbsp;
<p><a NAME="Dev"></a><b><u>Store Development and Expansion Strategy</u></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This table shows the domestic
auto parts store development during the past five fiscal years:
<br>&nbsp;
<center><table CELLSPACING=2 CELLPADDING=7 WIDTH="515" >
<tr>
<td VALIGN=TOP WIDTH="34%">&nbsp;</td>

<td VALIGN=TOP COLSPAN="5" WIDTH="66%">
<center><b>Fiscal Year</b></center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="34%">&nbsp;</td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><b><u>1995</u></b></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><b><u>1996</u></b></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><b><u>1997</u></b></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><b><u>1998</u></b></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><b><u>1999</u></b></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="34%">Beginning Stores</td>

<td VALIGN=TOP WIDTH="10%">
<div align=right>933</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>1,143</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>1,423</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>1,728</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>2,657</div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="34%">New Stores<sup>1</sup></td>

<td VALIGN=TOP WIDTH="10%">
<div align=right>210</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>280</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>308</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>952</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>245</div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="34%">Replaced Stores<sup>2</sup></td>

<td VALIGN=TOP WIDTH="10%">
<div align=right>29</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>31</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>17</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>12</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right>59</div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="34%">Closed Stores<sup>2</sup></td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><u>(29</u>)</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>(31</u>)</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>(20</u>)</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>(35</u>)</div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>(250)</u></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="34%">Ending Stores</td>

<td VALIGN=TOP WIDTH="10%">
<div align=right><u><font face="">1,143</font></u></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>1,423</u></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>1,728</u></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>2,657</u></div>
</td>

<td VALIGN=TOP WIDTH="14%">
<div align=right><u>2,711</u></div>
</td>
</tr>
</TABLE></center>
___________
<br><font size=-1><sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1</sup>Includes
stores obtained through Chief and Auto Palace acquisitions in 1998, and
stores opened on real estate acquired from Pep Boys in 1999.</font>
<br><font size=-1><sup>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2</sup>Closed
stores include replaced s</font>tores.
<br>&nbsp;
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We believe that expansion
opportunities exist both in markets that we do not currently serve, and
in markets where we can achieve a larger presence, for both AutoZone and
TruckPro stores. We attempt to obtain high visibility sites in high traffic
locations and undertake substantial research prior to entering new markets.
Key factors in selecting new site and market locations include population,
demographics, vehicle profile, and number and strength of competitors'
stores. We generally seek to open new stores within or contiguous to existing
market areas and attempt to cluster development in new urban markets in
a relatively short period of time in order to achieve economies of scale
in advertising and distribution costs. In addition to continuing to construct
our own stores, we regularly evaluate potential acquisition candidates
in new as well as in existing markets.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our net sales have grown
significantly in recent years, increasing from $1.8 billion in fiscal 1995
to $4.1 billion in fiscal 1999. Continued growth and financial performance
will be dependent, in large part, upon our ability to open new stores on
a profitable basis in existing and new markets and also upon our ability
to continue to increase sales in existing stores. We make no assurance
that we can continue to open and operate new stores on a timely and profitable
basis, successfully integrate stores that we acquire from third parties
or continue to attain increases in comparable store sales.
<br>&nbsp;
<p><a NAME="opers"></a><b><u>Store Operations</u></b>
<p><b><i>Store Formats</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of August 28, 1999, we
had domestic auto parts stores in the following square footage ranges:
<br>&nbsp;
<center><table BORDER=0 CELLSPACING=0 CELLPADDING=7 WIDTH="261" >
<tr>
<td VALIGN=TOP WIDTH="48%"><b><u>Square Footage</u></b></td>

<td VALIGN=TOP WIDTH="52%">
<center><b><u>Number of Stores</u></b></center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="48%">Less than 4,000</td>

<td ALIGN=CENTER VALIGN=CENTER WIDTH="52%">
<div align=right>233</div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="48%">4,000 to 7,000</td>

<td VALIGN=TOP WIDTH="52%">
<div align=right>1,692</div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="48%">More than 7,000</td>

<td VALIGN=TOP WIDTH="52%">
<div align=right>786</div>
</td>
</tr>
</TABLE></center>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Substantially all AutoZone
stores are based on standard store formats resulting in generally consistent
appearance, merchandising and product mix. Approximately 85% to 90% of
each store's square footage is selling space, of which approximately 30%
to 40% is dedicated to hard parts inventory. The hard parts inventory area
is fronted by a counter that generally runs 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 accessories and maintenance
items.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At the hard parts counter,
we have knowledgeable parts personnel available to assist customers with
their parts needs utilizing our proprietary electronic parts catalog with
a video screen which is visible to both the AutoZoner (employee) and the
customer. The parts catalog will suggest additional items that a customer
should purchase in order to properly install the part being purchased.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Approximately 2,000 of our
auto parts stores are freestanding, with the balance principally located
within strip shopping centers. Freestanding large format stores typically
have parking for approximately 45 to 50 cars on a lot of approximately
3/4 to one acre. Our smaller auto parts stores typically have parking for
approximately 25 to 40 cars and are usually located on a lot of approximately
1/2 to 3/4 acre.
<p><b><i>Store Personnel and Training</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each auto parts store typically
employs from 9 to 20 AutoZoners, including a manager and an assistant manager.
AutoZoners typically have prior automotive experience. Although we rely
primarily on on-the-job training, we also provide formal training programs,
which include regular store meetings on specific sales and product issues,
standardized training manuals and a specialist program where AutoZoners
can obtain certification in several areas of technical expertise from both
the company and from independent certification agencies. Training is supplemented
with frequent store visits by management.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Store managers get financial
incentives through performance-based bonuses and grants of stock options.
In addition, our growth has provided opportunities for the promotion of
qualified AutoZoners. We believe these opportunities are important to attract,
motivate and retain quality personnel.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our domestic auto parts stores
are primarily supervised through district managers (formerly named area
advisors) who oversee approximately five to six stores each and who report
to regional managers (formerly named district managers). Regional managers
with approximately 45 to 60 stores each, in turn, report to seven Vice
Presidents-Stores (formerly named regional managers). Purchasing, merchandising,
advertising, accounting, cash management, store development, systems technology
and support and other store support functions are centralized in our store
support center in Memphis, Tennessee. We believe that this centralization
enhances consistent execution of our merchandising and marketing strategy
at the store level.
<p><b><i>Store Automation</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All auto parts stores have
proprietary electronic parts catalogs that provide parts information based
on the make, model and year of an automobile. The catalog display screens
are placed on the hard parts counter where both AutoZoners and customers
can view the screen. In addition, our satellite system enables the auto
parts stores to speed up credit card and check approval processes and locate
parts at neighboring AutoZone stores.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our domestic auto parts stores
utilize our computerized Store Management System, which includes bar code
scanning and point-of-sale data collection terminals. The Store Management
System provides administrative assistance and improved personnel scheduling
at the store level, 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.
<br>&nbsp;
<p><a NAME="Purchase"></a><b><u>Purchasing and Distribution</u></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merchandise is selected and
purchased for all stores at our store support center in Memphis. No one
class of product accounts for as much as 10% of our total sales. In fiscal
1999, no single supplier accounted for more than 8% of our total purchases,
and our ten largest suppliers accounted for approximately 35% of our purchases.
We generally have few long-term contracts for the purchase of merchandise.
We believe that we have excellent relationships with suppliers. We also
believe that alternative sources of supply exist, at similar cost, for
substantially all types of product sold.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our vendors ship substantially
all of our merchandise to our distribution centers. Stores typically place
orders on a weekly basis and the merchandise is shipped from the warehouse
in our trucks on the following day.
<br>&nbsp;
<p><a NAME="Comp"></a><b><u>Competition</u></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We compete principally in
the do-it-yourself and, more recently, the commercial automotive aftermarket.
Although the number of competitors and the level of competition experienced
by our stores varies by market area, the automotive aftermarket is fragmented
and generally very competitive. We principally compete using store location,
customer service, product selection, product warranty and price. While
we believe that we compete effectively across the United States, some of
our competitors have been operating longer in particular geographic areas
and may be more familiar with particular regional needs or may have a name
more recognizable in a particular region.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition to competing
with other auto parts retailers, we compete with jobber stores, which principally
sell to wholesale accounts and installers, but also have significant sales
to do-it-yourself customers. In addition, we also compete with mass merchants
that sell automotive maintenance products such as oil, filters, windshield
wiper blades, wash and wax chemicals, and batteries.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recently, several large auto
parts chains have merged. We do not know what impact these mergers will
have upon competition in the retail automotive aftermarket.
<br>&nbsp;
<p><a NAME="Marks"></a><b><u>Trademarks and Patents</u></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We have registered several
service marks and trademarks in the United States Patent and Trademark
office, including our service mark "AutoZone" and trademarks "AutoZone,"
"Duralast," "Valucraft," "Ultra Spark," "Deutsch," "Albany," "ALLDATA"
and "TruckPro". We believe that the "AutoZone" service mark and trademarks
have become an important component in our merchandising and marketing strategy.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the 1998 fiscal year we
were granted a patent by the Patent and Trademark Office for a starter
and alternator tester which is being used exclusively in our AutoZone stores.
This tester gives us greater testing accuracy and improved customer service.
<br>&nbsp;
<p><a NAME="Employes"></a><b><u>Employees</u></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of August 28, 1999, we
employed approximately 40,500 persons, approximately 29,500 of whom were
employed full-time. Approximately 88% of our employees were employed in
stores or in direct field supervision, approximately 8% in distribution
centers and approximately 4% in store support functions.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We have never experienced
any material labor disruption, and believe that our labor relations are
generally good.
<br>&nbsp;
<p><a NAME="Executive"></a><b><u>Executive Officers of the Registrant</u></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following table lists
our executive officers. The title of each executive officer includes the
words "Customer Satisfaction" which reflects our commitment to customer
service as part of our marketing and merchandising strategy. Officers are
elected by and serve at the discretion of the Board of Directors.
<p><i>John C. Adams, Jr., 51 --- Chairman, Chief Executive Officer, and
Director</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John C. Adams, Jr., has
been a director since 1996. Mr. Adams was elected Chairman and Chief Executive
Officer in March 1997, had been President and Chief Executive Officer since
December 1996, and had been Vice Chairman and Chief Operating Officer since
March 1996. Previously, he was Executive Vice President-Distribution since
1995. From 1990 to 1994, Mr. Adams was a co-owner of Nicotiana Enterprises,
Inc., a food distribution company. From 1983 to 1990, Mr. Adams was President
of the Miami Division of Malone &amp; Hyde, Inc. ("Malone &amp; Hyde"),
AutoZone's former parent company.
<p><i>Timothy D. Vargo, 48 --- President, Chief Operating Officer, and
Director</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Timothy D. Vargo has been
a director since 1996 and was elected President and Chief Operating Officer
in March 1997. Previously, Mr. Vargo had been Vice Chairman and Chief Operating
Officer since 1996, Executive Vice President-Merchandising and Systems
Technology since 1995 and had been Senior Vice President in 1995. Mr. Vargo
was Senior Vice President-Merchandising from 1986 to 1992 and was Director
of Stores for AutoZone from 1984 to 1986.
<p><i>Robert J. Hunt, 50 --- Executive Vice President, Chief Financial
Officer, and Director</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Robert J. Hunt was elected
a director in 1997 and has been Executive Vice President and Chief Financial
Officer since 1994. Prior to that time, Mr. Hunt was Executive Vice President,
Chief Financial Officer, and a Director of The Price Company from 1991
to 1993. Previously, Mr. Hunt had been employed by Malone &amp; Hyde since
1984, where he was Executive Vice President and Chief Financial Officer
from 1988 to 1991.
<p><i>Eugene E. Auerbach, 54 --- Senior Vice President-Store Development</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eugene E. Auerbach was appointed
Senior Vice President-Store Development in February 1999. Prior to that
time, Mr. Auerbach was Asian Regional Director of the Dairy Farm Company
from 1995 to 1999. Previously, Mr. Auerbach had been employed by Costco
Wholesale where he was Senior Vice President-Information Technology and
Senior Vice President- International.
<p><i>Michael B. Baird, 42 --- Senior Vice President and President, TruckPro</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michael B. Baird was elected
Senior Vice President in October 1999, and had been President of TruckPro
since its acquisition in 1998. Prior to that, he had been Vice President-Commercial
from 1995, and had been Vice President-Merchandising since 1993. Mr. Baird
has been employed by AutoZone or Malone &amp; Hyde since 1994.
<p><i>Bruce G. Clark, 54 --- Senior Vice President-Systems, Technology,
and Support, and Chief Information Officer</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bruce G. Clark has been
Senior Vice President since January 1999. Previously Mr. Clark had been
Senior Vice President-MIS/Telemarketing of Brylane and its predecessors
since 1988. Mr. Clark joined Brylane, at that time a division of The Limited,
in 1983, and served as Vice President-MIS/Telemarketing from 1983 to May
1988. Prior to joining Brylane, Mr. Clark was a partner in the consulting
division of Arthur Andersen &amp; Co.
<p><i>Gerald E. Colley, 47 --- Senior Vice President-Stores</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gerald E. Colley was elected
Senior Vice President-Stores in 1997. He had been Vice President-Stores
since April 1997, and had been a Regional Manager since February 1997.
Previously, Mr. Colley had been an Executive Vice President for Tire Kingdom,
Inc., in 1996, and had been President of Rose Auto Stores Florida, Inc.,
in 1995. Prior to that time Mr. Colley had been employed by AutoZone since
1987, and had been a Vice President from 1988 to 1995.
<p><i>Brett D. Easley, 41 --- Senior Vice President - E-Commerce and President,
ALLDATA</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brett D. Easley was elected
Senior Vice President - E-Commerce in October 1999, and had been President
of ALLDATA since 1998. Prior to that, he had been Vice President-Information
and Training since 1997 and Vice President-Merchandising Systems since
1994. Mr. Easley has been employed by AutoZone or Malone &amp; Hyde since
1984.
<p><i>Joseph M. Fabiano, 43 --- Senior Vice President-Human Resources</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Joseph M. Fabiano joined
AutoZone in July 1999 as Senior Vice President-Human Resources. Previously
Mr. Fabiano was Vice President-Human Resources for Northwestern Corporation
from January 1999 to March 1999. Prior to that Mr. Fabiano was employed
by Tricon Global Restaurants as Vice President, Human Resources-Americas
from 1997 to 1999, and as Vice President, Human Resources-Latin America
from 1996 to 1997. Prior to that Mr. Fabiano was Senior Vice President-Human
Resources for Gruma, S.A. de C.V. from 1995 to 1996. From 1992 to 1995,
Mr. Fabiano was Vice President-Human Resources for Gruma Corporation.
<p><i>Harry L. Goldsmith, 48 --- Senior Vice President, Secretary and General
Counsel</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harry L. Goldsmith was elected
Senior Vice President, Secretary and General Counsel in 1996. Previously
he was Vice President, General Counsel and Secretary from 1993 to 1996.
<p><i>Michael E. Longo, 38 --- Senior Vice President-Distribution</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michael E. Longo has been
Senior Vice President-Distribution since 1998. Prior to that time, he had
been Vice President-Distribution since 1996. Mr. Longo began working with
AutoZone in 1992.
<p><i>William C. Rhodes, III, 34 --- Senior Vice President-Finance</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; William C. Rhodes, III was
elected Senior Vice President-Finance since October 1999. Previously, Mr.
Rhodes was Vice President-Finance from June 1999 and prior to that was
Vice President-Operations Analysis and Support from 1997, and served as
a Director in various capacities in both Store Operations and Finance since
joining the Company in 1994.
<p><i>Anthony Dean Rose, Jr., 39 --- Senior Vice President-Advertising</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anthony Dean Rose, Jr. has
been Senior Vice President-Advertising since 1995. Prior to that time,
he had been Vice President-Advertising since 1989 and a Director of Advertising
since 1987. Mr. Rose has been employed by AutoZone or Malone &amp; Hyde
since 1982.
<p><i>Stephen W. Valentine, 37 --- Senior Vice President-International</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stephen W. Valentine has
been Senior Vice President-International since October 1998, and had been
Senior Vice President-Systems Technology and Support since 1995. Prior
to that time, he had been Vice President-Systems Technology and Support
since 1994, and a Director of Store Management Systems since 1990. Mr.
Valentine began working with AutoZone in 1989.
<p><i>David J. Wilhite, 37 --- Senior Vice President-Merchandising</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; David J. Wilhite was elected
Senior Vice President-Merchandising in September 1997. Previously Mr. Wilhite
was a Vice President-Merchandising since 1996. He has been an employee
of AutoZone or Malone &amp; Hyde since 1984.
<p><i>Andrew M. Clarkson, 62 --- Director and Chairman of the Finance Committee</i>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Andrew M. Clarkson has been
a director since 1986 and is an employee serving as Chairman of the Finance
Committee. Mr. Clarkson had been Vice President and Treasurer in 1986,
Senior Vice President and Treasurer from 1986 to 1988, was Secretary from
1988 to 1993 and was Treasurer from 1990 to 1995. Previously, Mr. Clarkson
was Chief Financial Officer of Malone &amp; Hyde from 1983 to 1988.
<br>&nbsp;
<p><a NAME="Risk"></a><b><u>RISK FACTORS</u></b>
<p><b>We may not be able to increase sales by the same historic growth
rates.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We have significantly increased
our store count in the past five fiscal years, growing from 933 stores
at August 27, 1994, to 2,717 stores at August 28, 1999, an average store
count increase per year of 24%. We do not plan to continue our store count
growth rate at the historic pace. In addition, a portion of our total sales
increases each year results from increases in sales at existing stores.
We cannot make any assurance that we can continue to increase same store
sales as our stores mature in their markets.
<p><b>We may not be as successful in newer markets as we had been in our
existing, older markets.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other auto parts retailers
competing in California and in New England have been in those markets for
a longer period of time, have a trade name more recognizable than the name
AutoZone in those markets, and may have a better understanding of the particular
customer needs and expectations in these markets.
<p><b>We have an ever-increasing need for qualified employees.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In fiscal year 1998, our
consolidated employee count increased from approximately 28,700 at the
beginning of the year to about 38,500, a 34% increase in the year. We do
not know if we can continue to hire and retain qualified employees at current
wage rates.
<p><b>The acquired Chief Auto Parts stores are smaller in size than the
traditional AutoZone store and may not be as profitable.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Chief stores are substantially
smaller than our traditionally sized AutoZone auto parts stores and therefore,
the Chief stores, even after conversion, may not achieve the sales and
profitability of a traditional AutoZone store.
<p><b>Industry consolidation may impact our business.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recently, several large auto
parts chains have merged. We do not know what impact these mergers will
have upon competition in the retail automotive aftermarket. If our merging
competitors are able to achieve efficiencies in their mergers, then there
may be greater competitive pressures in the markets in which they are strongest.
<p><b>If demand for our products slows, then our business may be materially
affected.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Demand for products sold
by our stores depends on many factors. In the short term, it may depend
upon:
<ul>
<li>
the weather, as vehicle maintenance may be deferred during periods of inclement
weather.</li>
</ul>

<ul>
<li>
the economy, as during periods of good economic conditions, more of our
do-it-yourself customers may pay others to repair and maintain their cars
instead of working on their own cars. This factor is tempered by our commercial
parts sales program that sells parts to installers. In periods of declining
economic conditions, both do-it-yourself and do-it-for-me customers may
defer vehicle maintenance or repair.</li>
</ul>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For the long term, demand for
our products may depend upon:
<ul>
<li>
the quality of the vehicles manufactured by the original vehicle manufacturers,
and the length of the warranty offered on new vehicles.</li>
</ul>

<ul>
<li>
the law. Contrary to the terms of the federal Clean Air Act, the U.S. Environmental
Protection Agency has adopted regulations that would limit access to computerized
diagnostic information (commonly referred to as "on-board diagnostics")
relating to vehicle emission systems on cars and light trucks beginning
with the 1996 model year. Legislation is pending in several states to negate
the effect of these regulations upon do-it-yourself customers and commercial
installers not associated with the original manufacturers. If these regulations
remain in effect, our customers will have little or no access to on-board
diagnostic information for vehicles, which may limit their ability to diagnose,
maintain, or repair the emissions systems of vehicles.</li>
</ul>
<b>If we cannot profitably open stores in international markets, our potential
for growth may be limited.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We opened our first auto
parts stores in Mexico during the 1999 fiscal year. Although we believe
that great potential exists for auto parts stores in the fragmented international
auto parts market, we have little experience opening or operating stores
outside of the United States, and no assurances can be made that we can
open stores in any other country in a timely or profitable manner.
<p><b>If our vendors continue to consolidate, we may pay higher prices
for our merchandise.</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recently, several of our
vendors have merged and others have announced plans to merge. Further vendor
consolidation could limit the number of vendors from which we may purchase
products and could materially affect the prices we pay for these products.
<p><b>If we are unable to successfully sell products on the Internet, we
may lose market share to our competitors that can.</b>
<p><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </b>Recently, several
current and new competiors have established Internet sites that sell automotive
parts, products and services. While we do sell automotive information over
teh Internet at <i>alldatadiy.com</i>, we do not currently sell automotive
parts or products. If our competitors establish successful Interenet sites
prior to our entry into electornic commerce, then we may lose market share.
<br>&nbsp;
<p><a NAME="Property"></a><b>Item 2. Properties</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This table shows the square
footage and number of leased and owned properties for our domestic auto
parts stores:
<br>&nbsp;
<center><table CELLSPACING=0 CELLPADDING=7 WIDTH="313" >
<tr>
<td VALIGN=TOP WIDTH="22%">&nbsp;</td>

<td VALIGN=TOP WIDTH="39%"><b><u>No. of Stores</u></b></td>

<td VALIGN=TOP WIDTH="39%"><b><u>Square Footage</u></b></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="22%"><b>Leased</b></td>

<td VALIGN=TOP WIDTH="39%">
<center>1,193</center>
</td>

<td VALIGN=TOP WIDTH="39%">
<div align=right>6,893,195</div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="22%"><b>Owned</b></td>

<td VALIGN=TOP WIDTH="39%">
<center><u>1,518</u></center>
</td>

<td VALIGN=TOP WIDTH="39%">
<div align=right><u>10,511,805</u></div>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="22%"><b>Total</b></td>

<td VALIGN=TOP WIDTH="39%">
<center><u>2,711</u></center>
</td>

<td VALIGN=TOP WIDTH="39%">
<div align=right><u>17,405,000</u></div>
</td>
</tr>
</TABLE></center>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We have 3,652,739 square
feet in our distribution centers, all of which is owned, except for 880,965
square feet, which is leased. The distribution centers are located in Arizona,
California, Georgia, Illinois, Louisiana, Ohio, Tennessee, and Texas.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our store support center,
which we own, is located in Memphis, Tennessee, and consists of 360,000
square feet.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We also own and lease other
properties that are not material in the aggregate.
<br>&nbsp;
<p><a NAME="Legal"></a><b>Item 3. Legal Proceedings</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Auto Parts Inc. is
a defendant in a class action lawsuit entitled "Doug Winfrey, et al. on
their own behalf and on behalf of a class and all others similarly situated,
v. Chief Auto Parts Inc. et al.," filed in the Superior Court of California,
County of San Joaquin in August 1995 and then transferred to The Superior
Court of California, County of San Francisco, in October 1995. In the complaint,
the plaintiffs allege that Chief had a policy and practice of denying hourly
employees in California mandated rest periods during their scheduled hours
of work. The plaintiffs are seeking damages, restitution, disgorgement
of profits, statutory penalties, declaratory relief, injunctive relief,
prejudgment interest, and reasonable attorneys' fees, expenses and costs.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On November 1998, the Superior
Court certified the class as to all persons considered by Chief to be non-exempt
hourly employees who, from August 1991, to the present, either work or
did work in one of Chief's California retail stores, in excess of total
work time of three and one-half (3.5) hours in any one work day and who
were denied an off-duty rest break. In September 1999, the parties agreed
to settle the suit. The settlement is subject to approval of the court
and grants an option to each class member to exclude himself or herself
from the class and allows each of them to file an independent action. The
settlement, if approved by the court and accepted by substantially all
members of the plaintiff class, will not have a material effect upon our
financial results or operations.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc., is a defendant
in a purported class action lawsuit entitled "Melvin Quinnie on behalf
of all others similarly situated v. AutoZone, Inc., and DOES 1 through
100, inclusive" filed in the Superior Court of California, County of Los
Angeles, in November 1998. The plaintiff claims that the defendants failed
to pay overtime to store managers as required by California law and failed
to pay terminated managers in a timely manner as required by California
law. The plaintiff is seeking injunctive relief, restitution, statutory
penalties, prejudgment interest, and reasonable attorneys' fees, expenses
and costs. The case is in early stages of pre-class certification discovery
and therefore we are unable to predict the outcome of this lawsuit at this
time. We are vigorously defending against this action.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc., and Chief
Auto Parts Inc. are defendants in a purported class action lawsuit entitled
"Paul D. Rusch, on behalf of all other similarly situated, v. Chief Auto
Parts Inc. and AutoZone, Inc." filed in the Superior Court of California,
County of Los Angeles, in May 1999. The plaintiffs claim that the defendants
have failed to pay their store managers overtime pay from March 1997 to
the present. The plaintiffs are seeking back overtime pay, interest, an
injunction against the defendants committing such practices in the future,
costs, and attorneys' fees. In September 1999, the Court denied our motion
to strike the complaint's request for class certification based on a prior
case of Chief based on similar facts in which the class certification was
denied. We appealed the Court's decision and the decision of the trial
court was sustained and has been returned to the trial court. We are unable
to predict the outcome of this lawsuit at this time, but believe that the
potential damages recoverable by any single plaintiff against us are minimal.
However, if the plaintiff class were to be certified and to prevail on
all of its claims, the aggregate amount of damages could be substantial.
We are vigorously defending against this action.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We are also involved in various
other legal proceedings incidental to the conduct of our business. Although
the amount of liability that may result from these other proceedings cannot
be ascertained, we do not currently believe that, in the aggregate, they
will result in liabilities material to our financial condition or results
of operations.
<br>&nbsp;
<br>&nbsp;
<br>
<center>
<p><a NAME="_Toc467138073"></a><b>PART II</b></center>

<p><a NAME="Item 5"></a><b>Item 5. Market for Registrant's Common Stock
and Related Stockholder Matters</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stock Market Prices
for our common stock as traded on the New York Stock Exchange as shown
in the section labeled "Quarterly Summary" of the Annual Report to Stockholders
for the fiscal year ended August 28, 1999, are incorporated herein by reference.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At October 12, 1999, we had
3,337 stockholders of record, excluding the number of beneficial owners
whose shares were represented by security position listings.
<p><a NAME="Item 6"></a><b>Item 6. Selected Financial Data</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selected financial data contained
in the section entitled "Ten-Year Review" of the Annual Report to Stockholders
for the fiscal year ended August 28, 1999, are incorporated herein by reference.
<p><a NAME="Item 7"></a><b>Item 7. Management's Discussion and Analysis
of Financial Condition and Results of Operations</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The section entitled "Financial
Review" of the Annual Report to Stockholders for the fiscal year ended
August 28, 1999, is incorporated herein by reference.
<p><a NAME="Item 7A"></a><b>Item 7A. Quantitative and Qualitative Disclosures
About Market Risk</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The subsection entitled "Financial
Market Risk" of the section entitled "Financial Review" of the Annual Report
to Stockholders for the fiscal year ended August 28, 1999, is incorporated
herein by reference.
<p><a NAME="Item 8"></a><b>Item 8. Financial Statements and Supplementary
Data</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The financial statements
and related notes and the section entitled "Quarterly Summary" of the Annual
Report to Stockholders for the fiscal year ended August 28, 1999, are incorporated
herein by reference.
<br>&nbsp;
<br>&nbsp;
<br>
<center>
<p><a NAME="_Toc467138079"></a><b>PART III</b></center>

<p><a NAME="Item 10"></a><b>Item 10. Directors and Officers of the Registrant</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information required
by this item is incorporated by reference to Part I of this document and
to the definitive Proxy Statement dated October 25, 1999, filed pursuant
to Regulation 14A under the Securities Exchange Act of 1934 in connection
with the annual meeting of stockholders to be held December 9, 1999.
<br>&nbsp;
<p><a NAME="Item 11"></a><b>Item 11. Executive Compensation</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information required
by this item is incorporated by reference to the definitive Proxy Statement
dated October 25, 1999, filed pursuant to Regulation 14A under the Securities
Exchange Act of 1934 in connection with the annual meeting of stockholders
to be held December 9, 1999.
<br>&nbsp;
<p><a NAME="Item 12"></a><b>Item 12. Security Ownership of Certain Beneficial
Owners and Management</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information required
by this item is incorporated by reference to the definitive Proxy Statement
dated October 25, 1999, filed pursuant to Regulation 14A under the Securities
Exchange Act of 1934 in connection with the annual meeting of stockholders
to be held December 9, 1999.
<br>&nbsp;
<p><a NAME="Item 13"></a><b>Item 13. Certain Relationships and Related
Transactions</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The sections entitled "Certain
Relationships and Related Transactions" and "Employment Agreements" of
the definitive Proxy Statement dated October 25, 1999, filed pursuant to
Regulation 14A under the Securities Exchange Act of 1934 in connection
with the annual meeting of stockholders to be held December 9, 1999, are
incorporated herein by reference.
<p><b><i>Indebtedness of Management</i></b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effective as of the beginning
of the 2000 fiscal year, the Board of Directors has adopted the AutoZone,
Inc. Management Stock Ownership Plan. Under this plan, each executive officer
is encouraged to purchase and maintain ownership of AutoZone stock in an
amount that is a set multiple of that officer's annual salary. As a part
of the program, we have agreed to loan each executive officer up to one-half
of the funds required to purchase the stock. The notes are demand notes
that mature in five years or upon termination of the officer's employment.
Interest accrues at a 6% annually compounded rate, which approximates the
applicable federal rate as set by the Internal Revenue Service. As of November
24 1999, the following executive officers had executed notes in the principal
amounts stated:
<br>&nbsp;
<center><table CELLSPACING=0 CELLPADDING=7 WIDTH="307" >
<tr>
<td VALIGN=TOP WIDTH="52%">
<br><b><u>Name</u></b></td>

<td VALIGN=TOP WIDTH="48%">
<center><b>Principal Amount</b>
<br><b><u>of Loan</u></b></center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">John C. Adams, Jr.</td>

<td VALIGN=TOP WIDTH="48%">
<center>$402,941</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Timothy D. Vargo</td>

<td VALIGN=TOP WIDTH="48%">
<center>$848,800</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Robert J. Hunt</td>

<td VALIGN=TOP WIDTH="48%">
<center>$408,063</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Eugene E. Auerbach</td>

<td VALIGN=TOP WIDTH="48%">
<center>$280,000</center>
</td>
</tr>

<tr>
<td>Michael B. Baird</td>

<td ALIGN=CENTER>$203,604</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Bruce G. Clark</td>

<td VALIGN=TOP WIDTH="48%">
<center>$125,000</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Gerald E. Colley</td>

<td VALIGN=TOP WIDTH="48%">
<center>$300,000</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Joseph M. Fabiano</td>

<td VALIGN=TOP WIDTH="48%">
<center>$230,000</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Harry L. Goldsmith</td>

<td VALIGN=TOP WIDTH="48%">
<center>$211,412</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">Michael E. Longo</td>

<td VALIGN=TOP WIDTH="48%">
<center>$103,994</center>
</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="52%">William C. Rhodes, III</td>

<td VALIGN=TOP WIDTH="48%">
<center>$174,473</center>
</td>
</tr>

<tr>
<td>Stephen W. Valentine</td>

<td ALIGN=CENTER>$288,332</td>
</tr>
</TABLE></center>

<br>&nbsp;
<center>
<p><a NAME="Part 4"></a><b>PART IV</b></center>

<p><a NAME="Item 14"></a><b>Item 14. Exhibits, Financial Statement Schedules,
and Reports On Form 8-K</b>
<p><b>(a) 1. Financial Statements</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following financial statements
included in the Annual Report to Stockholders for the fiscal year ended
August 28, 1999, are incorporated by reference in Item 8:
<blockquote>
<blockquote>Report of Independent Auditors
<p>Consolidated Statements of Income for the fiscal years ended August
28, 1999, August 29, 1998, and August 30, 1997
<p>Consolidated Balance Sheets as of August 28, 1999, and August 29, 1998
<p>Consolidated Statements of Stockholders' Equity for the fiscal years
ended August 28, 1999, August 29, 1998, and August 30, 1997
<p>Consolidated Statements of Cash Flows for the fiscal years ended August
28, 1999, August 29, 1998, and August 30, 1997
<p>Notes to Consolidated Financial Statements</blockquote>
</blockquote>
<b>2. Financial Statement Schedule II - Valuation and Qualifying Accounts</b>
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All other schedules are omitted
because the information is not required or because the information required
is included in the financial statements or notes thereto.
<p><b>3. The following exhibits are filed as a part of this report:</b>
<p>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restated Articles
of Incorporation of AutoZone, Inc. Incorporated by reference to Exhibit
3.1 to the Form 10-Q
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
for the quarter ended February 13, 1999.
<p>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated
By-laws of AutoZone, Inc. Incorporated by reference to Exhibit 3.3 to the
Form 10-K
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
for the fiscal year ended August 29, 1998.
<p>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration Rights
Agreement between AutoZone, Inc. and J. Dale Dawson and Judith S. Dawson
dated
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
May 1, 1998. Incorporated by reference to the Form 10-Q for the quarter
ended May 9, 1998.
<p>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Indenture,
dated as of July 22, 1998, between AutoZone, Inc. and the First National
Bank of Chicago.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to Exhibit 4.1 to the Form 8-K dated July 17,
1998.
<p>*10.1&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated Director Stock Option
Plan. Incorporated by reference to Exhibit 4.1 to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form S-8 (No. 333-88243) dated October 1, 1999.
<p>*10.2&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated 1998 Director Compensation
Plan. Incorporated by reference to Exhibit 4.1 to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form S-8 (No. 333-88241) dated October 1, 1999.
<p>*10.3&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated Stock Option Plan,
as amended on February 26, 1991. Incorporated by reference to
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Exhibit 10.4 to the Form S-1 (No. 33-39197) filed April 1, 1991.
<p>*10.4&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 1 dated December 18, 1992,
to the Amended and Restated Stock Option Plan. Incorporated
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
by reference to Exhibit 10.5 to the Form 10-K for the fiscal year ended
August 28, 1993.
<p>*10.5&nbsp;&nbsp;&nbsp;&nbsp; Second Amended and Restated 1996 Stock
Option Plan. Incorporated by reference to Appendix B to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
definitive Proxy Statement as filed with the Securities and Exchange Commission
on November 2, 1998.
<p>*10.6&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
John C. Adams, Jr., and AutoZone, Inc., dated June 11,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.7&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Timothy D. Vargo, and AutoZone, Inc., dated June 11,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.8&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Robert J. Hunt, and AutoZone, Inc., dated June 11, 1997.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to the Form 10-K for the fiscal year ended August
29, 1997.
<p>*10.9&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Stephen W. Valentine, and AutoZone, Inc., dated July 7,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.10&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Harry L. Goldsmith, and AutoZone, Inc., dated June 11,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.11&nbsp;&nbsp;&nbsp; Executive Incentive Compensation Plan. Incorporated
by reference to Exhibit A to the definitive Proxy
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Statement dated November 14, 1994.
<p>10.12&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated Agreement between
J.R. Hyde, III, and AutoZone, Inc., dated October 23, 1997.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to Exhibit 10.1 to the Form 10-Q for the quarter
ended November 22, 1997.
<p>10.13&nbsp;&nbsp;&nbsp;&nbsp; Credit Agreement among AutoZone, Inc.,
as Borrower, the several lenders from time to time party thereto,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NationsBank, N.A., as Agent, and SunTrust Bank, Nashville, N.A. as Co-Agent,
dated December 20, 1996.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to Exhibit 10.1 to the Form 10-Q/A for the quarter
ended February 15, 1997.
<p>10.14&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 1, dated February 10, 1998,
to Credit Agreement among AutoZone, Inc., as Borrower, the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
several lenders from time to time party thereto, NationsBank, N.A., as
Agent, and SunTrust Bank, Nashville,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
N.A. as Co-Agent, dated December 20, 1996. Incorporated by reference to
Exhibit 10.2 to the Form 10-Q for
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the quarter ended February 14, 1998.
<p>10.15&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 2 to Credit Agreement among
AutoZone, Inc., as Borrower, the several lenders from time to
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
time party thereto, NationsBank, N.A., as Agent, and SunTrust Bank, Nashville,
N.A. as Co-Agent, dated
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
December 20, 1996. Incorporated by reference to Exhibit 10.3 to the Form
10-Q for the quarter ended
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
November 21, 1998.
<p>10.16&nbsp;&nbsp;&nbsp;&nbsp; Credit Agreement, dated November 13, 1998,
between AutoZone, Inc., as Borrower, the several lenders from
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
time to time party thereto, and NationsBank, N.A., as Agent. Incorporated
by reference to Exhibit 10.5 to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form 10-Q for the quarter ended November 21, 1998.
<p>10.17&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 1, dated July 16, 1999,
to Credit Agreement dated November 13, 1998, between AutoZone,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Inc., as Borrower, the several lenders from time to time party thereto,
and NationsBank, N.A., as Agent.
<p>13.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annual Report to Stockholders
for the fiscal year ended August 28, 1999. Incorporated by reference to
the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Annual Report filed with the Securities and Exchange Commission via EDGAR
pursuant to Rule 101(b)(1) of
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Regulation S-T.
<p>21.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subsidiaries of the Registrant.
<p>23.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consent of Ernst &amp; Young
LLP.
<p>27.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Data Schedule
(SEC Use Only).
<br>__________________
<br>*Management contract or compensatory plan or arrangement.
<br>&nbsp;
<p>(b) Reports on Form 8-K.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company filed a Current
Report on Form 8-K dated May 26, 1999, which contained a press release
announcing the Company's financial results for the quarter ended May 8,
1999.
<center>
<p>
<hr WIDTH="100%">
<p>
<a NAME="Sigs"></a><b>SIGNATURES</b></center>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
<p>AUTOZONE, INC.
<br>&nbsp;
<br>&nbsp;
<p>By: <u>/s/ J.C. Adams, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Date: November 24, 1999
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J.C. Adams, Jr.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chairman, Chief Executive
Officer
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; and Director
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Principal Executive Officer)
<br>&nbsp;
<br>&nbsp;
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements
of the Securities Exchange Act of 1934, this report has been signed below
by the following persons in the capacities and on the dates indicated:
<br>&nbsp;
<br>&nbsp;
<table CELLSPACING=0 CELLPADDING=7 WIDTH="638" >
<tr>
<td VALIGN=TOP WIDTH="38%"><u>SIGNATURE</u></td>

<td VALIGN=TOP WIDTH="35%"><u>TITLE</u></td>

<td VALIGN=TOP WIDTH="27%"><u>DATE</u></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ J.C. Adams, Jr.</u>__________
<br>J.C. Adams, Jr.</td>

<td VALIGN=TOP WIDTH="35%">Chairman, Chief Executive Officer and Director&nbsp;
<br>(Principal Executive Officer)</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ Timothy D. Vargo</u>_______
<br>Timothy D. Vargo</td>

<td VALIGN=TOP WIDTH="35%">President, Chief Operating Officer, and Director</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ Robert J. Hunt</u>__________
<br>Robert J. Hunt</td>

<td VALIGN=TOP WIDTH="35%">Executive Vice President, Chief Financial Officer
and Director (Principal Financial Officer)</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ William C. Rhodes, III</u>_____
<br>William C. Rhodes, III</td>

<td VALIGN=TOP WIDTH="35%">Senior Vice President&nbsp;
<br>(Principal Accounting Officer)</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ Andrew M. Clarkson</u>_____
<br>Andrew M. Clarkson</td>

<td VALIGN=TOP WIDTH="35%">Director</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>
</TABLE>

<table CELLSPACING=0 CELLPADDING=7 WIDTH="638" >
<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ N. Gerry House</u>___________
<br>N. Gerry House</td>

<td VALIGN=TOP WIDTH="35%">Director</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ J.R. Hyde, III</u>____________
<br>J.R. Hyde, III</td>

<td VALIGN=TOP WIDTH="35%">Director</td>

<td VALIGN=TOP WIDTH="27%">November 24,. 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ James F. Keegan</u>_________
<br>James F. Keegan</td>

<td VALIGN=TOP WIDTH="35%">Director</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ Michael W. Michelson</u>____
<br>Michael W. Michelson</td>

<td VALIGN=TOP WIDTH="35%">Director</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="38%"><u>/s/ Ronald A. Terry</u>_________
<br>Ronald A. Terry</td>

<td VALIGN=TOP WIDTH="35%">Director</td>

<td VALIGN=TOP WIDTH="27%">November 24, 1999</td>
</tr>
</TABLE>

<p>
<hr WIDTH="100%">
<p>
<a NAME="Sched2"></a><b><font size=+0>SCHEDULE II</font></b>
<center>
<p><b>AUTOZONE, INC.</b>
<br><b>VALUATION AND QUALIFYING ACCOUNTS</b>
<br><b><font size=+0>(In thousands)</font></b></center>

<br>&nbsp;
<table CELLSPACING=0 CELLPADDING=2 WIDTH="744" >
<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">
<center>COL A</center>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<center>COL B</center>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="25%" HEIGHT="17">
<center>COL C</center>
</td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17">
<center>COL D</center>
</td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td>COL E</td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17">&nbsp;</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="52">&nbsp;
<center>
<p>CLASSIFICATION</center>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="52">
<center>Balance
<br>Beginning of Period</center>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="25%" HEIGHT="52">&nbsp;
<center>
<p>ADDITIONS</center>
</td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="52"></td>

<td VALIGN=TOP COLSPAN="2" WIDTH="20%" HEIGHT="52">
<center>Deductions-
<br>Describe</center>
</td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="52">
<center>Balance at
<br>End of Period</center>
</td>

<td></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<center>(1)</center>
</td>

<td VALIGN=TOP COLSPAN="2" WIDTH="17%" HEIGHT="17">
<center>(2)</center>
</td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td></td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17"></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<center>Charged to Costs and Expenses</center>
</td>

<td ALIGN=CENTER VALIGN=CENTER COLSPAN="2" WIDTH="17%" HEIGHT="17">&nbsp;
<div align=right>
<br>Charged to Other Accounts-Describe</div>
</td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td></td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17"></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Year Ended August 30, 1997:</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17"></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Reserve for warranty claims</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>$14,152</div>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>$40,303</div>
</td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17">
<div align=right>$35,333</div>
</td>

<td ALIGN=LEFT>(1)</td>

<td ALIGN=RIGHT VALIGN=TOP WIDTH="3%" HEIGHT="17">$19,122</td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17">&nbsp;</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Other reserves</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>9,015</div>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td></td>

<td ALIGN=RIGHT VALIGN=TOP WIDTH="3%" HEIGHT="17">11,227</td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17">&nbsp;</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17"></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Year Ended August 29, 1998:</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17"></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Reserve for warranty claims</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>$19,122</div>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>$58,511</div>
</td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17">
<div align=right>$56,847</div>
</td>

<td ALIGN=LEFT>(1)</td>

<td ALIGN=RIGHT VALIGN=TOP WIDTH="3%" HEIGHT="17">$20,786</td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17">&nbsp;</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Other reserves</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>11,227</div>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td></td>

<td ALIGN=RIGHT VALIGN=TOP WIDTH="3%" HEIGHT="17">14,296</td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17">&nbsp;</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17"></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Year Ended August 28, 1999:</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17"></td>

<td></td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17"></td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Reserve for warranty claims</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>$20,786</div>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>$90,310</div>
</td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17">
<div align=right>$3,473</div>
</td>

<td ALIGN=LEFT WIDTH="3%" HEIGHT="17">
<center>(2)</center>
</td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17">
<div align=right>$81,619</div>
</td>

<td ALIGN=LEFT>(1)</td>

<td ALIGN=RIGHT VALIGN=TOP WIDTH="3%" HEIGHT="17">$32,950</td>

<td VALIGN=TOP WIDTH="9%" HEIGHT="17">&nbsp;</td>
</tr>

<tr>
<td VALIGN=TOP WIDTH="29%" HEIGHT="17">Other reserves</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17">
<div align=right>14,296</div>
</td>

<td VALIGN=TOP WIDTH="12%" HEIGHT="17"></td>

<td VALIGN=TOP WIDTH="14%" HEIGHT="17">&nbsp;</td>

<td VALIGN=TOP WIDTH="3%" HEIGHT="17">&nbsp;</td>

<td VALIGN=TOP WIDTH="17%" HEIGHT="17">&nbsp;</td>

<td></td>

<td ALIGN=RIGHT WIDTH="3%" HEIGHT="17">
<center>&nbsp;&nbsp; 94,640</center>
</td>

<td ALIGN=LEFT WIDTH="9%" HEIGHT="17">
<div align=right>(3)</div>
</td>
</tr>
</TABLE>

<p><font size=+0>(1) Cost of product for warranty replacements, net of
salvage and amounts collected from customers.</font>
<br><font size=+0>(2) Purchase accounting adjustments related to the acquisition
of Chief Auto Parts Inc.</font>
<br><font size=+0>(3) Amount includes items classified in other accrued
expenses and other long-term liabilities.</font>
<br>&nbsp;
<p>
<hr WIDTH="100%">
<center><a NAME="Exhibits"></a><b>EXHIBIT INDEX</b></center>

<p>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restated Articles
of Incorporation of AutoZone, Inc. Incorporated by reference to Exhibit
3.1 to the Form 10-Q
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
for the quarter ended February 13, 1999.
<p>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated
By-laws of AutoZone, Inc. Incorporated by reference to Exhibit 3.3 to the
Form 10-K
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
for the fiscal year ended August 29, 1998.
<p>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registration Rights
Agreement between AutoZone, Inc. and J. Dale Dawson and Judith S. Dawson
dated
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
May 1, 1998. Incorporated by reference to the Form 10-Q for the quarter
ended May 9, 1998.
<p>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Indenture,
dated as of July 22, 1998, between AutoZone, Inc. and the First National
Bank of Chicago.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to Exhibit 4.1 to the Form 8-K dated July 17,
1998.
<p>*10.1&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated Director Stock Option
Plan. Incorporated by reference to Exhibit 4.1 to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form S-8 (No. 333-88243) dated October 1, 1999.
<p>*10.2&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated 1998 Director Compensation
Plan. Incorporated by reference to Exhibit 4.1 to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form S-8 (No. 333-88241) dated October 1, 1999.
<p>*10.3&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated Stock Option Plan,
as amended on February 26, 1991. Incorporated by reference to
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Exhibit 10.4 to the Form S-1 (No. 33-39197) filed April 1, 1991.
<p>*10.4&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 1 dated December 18, 1992,
to the Amended and Restated Stock Option Plan. Incorporated
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
by reference to Exhibit 10.5 to the Form 10-K for the fiscal year ended
August 28, 1993.
<p>*10.5&nbsp;&nbsp;&nbsp;&nbsp; Second Amended and Restated 1996 Stock
Option Plan. Incorporated by reference to Appendix B to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
definitive Proxy Statement as filed with the Securities and Exchange Commission
on November 2, 1998.
<p>*10.6&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
John C. Adams, Jr., and AutoZone, Inc., dated June 11,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.7&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Timothy D. Vargo, and AutoZone, Inc., dated June 11,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.8&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Robert J. Hunt, and AutoZone, Inc., dated June 11, 1997.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to the Form 10-K for the fiscal year ended August
29, 1997.
<p>*10.9&nbsp;&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Stephen W. Valentine, and AutoZone, Inc., dated July 7,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.10&nbsp;&nbsp;&nbsp; Employment and Non-Compete Agreement between
Harry L. Goldsmith, and AutoZone, Inc., dated June 11,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1997. Incorporated by reference to the Form 10-K for the fiscal year ended
August 29, 1997.
<p>*10.11&nbsp;&nbsp;&nbsp; Executive Incentive Compensation Plan. Incorporated
by reference to Exhibit A to the definitive Proxy
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Statement dated November 14, 1994.
<p>10.12&nbsp;&nbsp;&nbsp;&nbsp; Amended and Restated Agreement between
J.R. Hyde, III, and AutoZone, Inc., dated October 23, 1997.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to Exhibit 10.1 to the Form 10-Q for the quarter
ended November 22, 1997.
<p>10.13&nbsp;&nbsp;&nbsp;&nbsp; Credit Agreement among AutoZone, Inc.,
as Borrower, the several lenders from time to time party thereto,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NationsBank, N.A., as Agent, and SunTrust Bank, Nashville, N.A. as Co-Agent,
dated December 20, 1996.
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Incorporated by reference to Exhibit 10.1 to the Form 10-Q/A for the quarter
ended February 15, 1997.
<p>10.14&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 1, dated February 10, 1998,
to Credit Agreement among AutoZone, Inc., as Borrower, the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
several lenders from time to time party thereto, NationsBank, N.A., as
Agent, and SunTrust Bank, Nashville,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
N.A. as Co-Agent, dated December 20, 1996. Incorporated by reference to
Exhibit 10.2 to the Form 10-Q for
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the quarter ended February 14, 1998.
<p>10.15&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 2 to Credit Agreement among
AutoZone, Inc., as Borrower, the several lenders from time to
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
time party thereto, NationsBank, N.A., as Agent, and SunTrust Bank, Nashville,
N.A. as Co-Agent, dated
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
December 20, 1996. Incorporated by reference to Exhibit 10.3 to the Form
10-Q for the quarter ended
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
November 21, 1998.
<p>10.16&nbsp;&nbsp;&nbsp;&nbsp; Credit Agreement, dated November 13, 1998,
between AutoZone, Inc., as Borrower, the several lenders from
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
time to time party thereto, and NationsBank, N.A., as Agent. Incorporated
by reference to Exhibit 10.5 to the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form 10-Q for the quarter ended November 21, 1998.
<p>10.17&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 1, dated July 16, 1999,
to Credit Agreement dated November 13, 1998, between AutoZone,
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Inc., as Borrower, the several lenders from time to time party thereto,
and NationsBank, N.A., as Agent.
<p>13.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annual Report to Stockholders
for the fiscal year ended August 28, 1999. Incorporated by reference to
the
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Annual Report filed with the Securities and Exchange Commission via EDGAR
pursuant to Rule 101(b)(1) of
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Regulation S-T.
<p>21.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subsidiaries of the Registrant.
<p>23.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consent of Ernst &amp; Young
LLP.
<p>27.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Data Schedule
(SEC Use Only).
<br>__________________
<br>*Management contract or compensatory plan or arrangement.
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