AutoZone sells automotive replacement parts, maintenance items, and accessories through retail stores in the U.S., Mexico, and Brazil, operating 7,657 stores total as of August 2025. AutoZone serves two customer types: DIY consumers who repair their own vehicles, and commercial (DIFM) customers — repair shops, dealers, and fleet owners — who order parts for delivery. DIY represents roughly two-thirds of domestic sales, with commercial making up the remainder. AutoZone's product mix spans failure parts (starters, alternators, radiators), maintenance items (oil, filters, brakes), and discretionary accessories. AutoZone operates a tiered store network — satellite stores, hub stores, and mega hub stores — where hubs and mega hubs carry progressively larger SKU assortments and serve as same-day replenishment sources for surrounding stores. Mega hubs, carrying up to 110,000 SKUs, are central to AutoZone's commercial growth strategy by improving parts availability and delivery speed. AutoZone generates revenue through retail and delivered sales, with growth driven by new store openings and same-store sales. AutoZone benefits from a negative net inventory position, where accounts payable exceeds gross inventory, meaning suppliers effectively finance AutoZone's inventory. AutoZone generates substantial free cash flow and returns the majority to shareholders through share buybacks. AutoZone's three core growth priorities are accelerating domestic commercial share gains, opening new stores at an increasing pace targeting ~500 per year by 2028, and expanding internationally — particularly in Mexico, where AutoZone is already the largest auto parts retailer by a wide margin.