AutoZone to open store near Westlake Ace Hardware

Memphis, Tenn.-based AutoZone Inc. (NYSE: AZO) is working toward a mid-September opening for a store next to Westlake Ace Hardware on South Campbell Avenue.

The roughly 7,000-square-foot auto parts retail shop would employ 10, said AutoZone spokesman Ray Pohlman via email. He noted the store is one of 150 the company plans to open this year.

Work visible along Campbell shows the building is being expanded. A building permit on file with the city of Springfield also gave approval for an expansion. Pohlman declined to provide additional details about the project or estimate construction costs.

The 2406 S. Campbell Ave. building most recently housed Name Brand Mattress Store and previously was occupied by time-share sales company Escapes! and an Aldi grocery store, according to Springfield Business Journal archives.

Now owned by AutoZone, the 1.7-acre property has a 2015 taxable appraised value of $1 million, according to Greene County assessor records. The site is less than a half-mile away from a store operated by Springfield-based competitor O’Reilly Automotive Inc. (Nasdaq: ORLY) at 2123 S. Campbell Ave.

“We do extensive market research and determine what the fleet looks like, the age of the fleet in the proposed trade area and whether or not the market is underserved,” Pohlman said this morning via email.

AutoZone, which currently operates four stores in Springfield, posted net income of $309.1 million in its third quarter ended May 9, an 8.4 percent increase compared to a year earlier, according to a news release.

AZO shares were trading at $679.15 as of 10:11 a.m., compared to a 52-week range of $491.93 to $705.