2. Forward-Looking Statements
Certain statements contained in this presentation are forward-looking statements. Forward-looking
statements typically use words such as “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,”
“estimate,” “project,” “positioned,” “strategy,” and similar expressions. These are based on assumptions
and assessments made by our management in light of experience and perception of historical trends,
current conditions, expected future developments and other factors that we believe to be appropriate.
These forward-looking statements are subject to a number of risks and uncertainties, including without
limitation: competition; product demand; the economy; credit markets; the ability to hire and retain qualified
employees; consumer debt levels; inflation; weather; raw material costs of our suppliers; energy prices;
war and the prospect of war, including terrorist activity; availability of consumer transportation; construction
delays; access to available and feasible financing; and changes in laws or regulations. Forward-looking
statements are not guarantees of future performance and actual results; developments and business
decisions may differ from those contemplated by such forward-looking statements, and such events could
materially and adversely affect our business. Forward-looking statements speak only as of the date made.
Except as required by applicable law, we undertake no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or otherwise. Actual results may
materially differ from anticipated results. Please refer to the Risk Factors section of AutoZone’s Form 10-K
for the fiscal year ended August 30, 2008 for more information related to those risks. In addition to the
financial statements presented in accordance with Generally Accepted Accounting Principles, AutoZone
has provided metrics in this presentation that are not calculated in accordance with GAAP. For a
reconciliation of these metrics, please see AutoZone’s press release in the Investor Relations section at
www.autozoneinc.com.
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4. The AutoZone Pledge -
AutoZoners always put customers first!
We know our parts and products.
Our stores look great!
We’ve got the best merchandise at the right price.
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7. New Store Highlights
Total
1st Store
Quarter Count
New 30
Replaced 2
Closed 0
Ending Domestic AutoZone Stores: 4,122
Dom estic square footage (000's) 26,443
Dom estic square footage per store 6,415
Ending Mexico Stores 2 150
Ending Total Store Count 4,272
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11. Q1 FY 2008 Total Cash Flow
12 weeks 12 weeks
ended ended
$ Millions 11/22/2008 11/17/2007
Net increase (decrease) in $ (157) $ (7)
cash and cash equivalents
Subtract increase/(decrease) in debt 18 225
Subtract share repurchases (272) (350)
Cash flow before share $ 97 $ 118
repurchases & changes in debt
Ending debt $ 2,268 $ 2,161
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12. Balance Sheet Highlights
$ Millions 11/22/2008 11/17/2007 H/(L)
Inventory $ 2,187 $ 2,052 + 7%
Pay-on-scan inventory $ 6 $ 23 - 76%
Total inventory $ 2,192 $ 2,075 + 6%
Inventory/store $ 0.513 $ 0.507 + 1%
Inventory, net of payables $ 184 $ 207 - 11%
Inv., net of payables/store $ 0.043 $ 0.050 - 14%
Inventory turns 1.5x 1.6x
Working capital $ (66) $ 0
Net fixed assets $ 2,267 $ 2,189 + 4%
Debt $ 2,268 $ 2,161 + 5%
Equity $ 60 $ 171 - 65%
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13. Strong Financial Disciplines
Continued EPS growth
Grow Retail Sales
Refinement of Parts Coverage
Deploy inventory more effectively across network with specific emphasis
on utilizing Hub network more effectively
Invest in AutoZoner training and retention
Make sure our stores look great
Make sure we put our customers first in everything we do
Customer service will continue to be our key point of differentiation
Grow Commercial Sales
Only 12% of domestic sales & 1.3% market share today
Continue focus on building best-in-class B2B selling organization
Focused on profitable growth
Prudently paced growth in Mexico
Relentless focus on managing costs
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