England Finance

May 31 2017

AutoZone Inc. News – Company Information – The New York Times #international #auto

#auto one


DETROIT (Reuters) — O’Reilly Automotive said Tuesday that it had reached a cash-and-stock deal worth $528 million to buy a rival, the CSK Auto Corporation.

Office Depot, the office supply retailer, said yesterday that it had hired an auto parts executive to be its new chairman and chief executive. The executive, Steve Odland, the chief executive and chairman of AutoZone since January 2001, succeeds.

AutoZone Inc. a retailer of auto parts, said yesterday that net income rose 14 percent in its fiscal third quarter, increased by sales to professional mechanics. Net income in the period that ended May 8 increased to $143.4 million, or $1.68 a.

AutoZone, the largest auto parts retailer in the nation, reported disappointing sales growth yesterday, setting off a 12 percent decline in its share price. Analysts said AutoZone appeared to have lost market share to rival chains. The company said.

Midas, the automotive services company, said yesterday that it was exiting parts distribution, eliminating about 800 jobs. The company said the retailer AutoZone had agreed to distribute parts and accessories to Midas’s 1,670 auto service shops in.

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