Retail

Pep Boys Q4 sales up $25 million

Posted on April 16, 2013

The Pep Boys - Manny, Moe & Jack announced that sales for the 14 weeks ended Feb. 2, 2013 increased by $25.5 million, or 5.1%, to $530.8 million from $505.3 million for the 13 weeks ended Jan. 28, 2012. Excluding the 14th week of Q4 2012, comparable sales decreased 2.6%, consisting of an increase of 3.2% in comparable service revenue and a decrease of 4.1% in comparable merchandise sales.

In accordance with GAAP, service revenue is limited to labor sales, while merchandise sales include merchandise sold through both our service center and retail lines of business. Excluding the 14th week of Q4 2012 and re-categorizing sales into the respective lines of business from which they are generated, comparable service center revenue decreased 1.6%, while comparable retail sales decreased 3.6%.

Net loss for Q4 2012 was $14.5 million compared to a net loss of $4.4 million last year. Excluding the items discussed below, our loss from continuing operations before income taxes and discontinued operations for the fourth quarter of fiscal 2012 improved by $3.0 million as compared to the fourth quarter of fiscal 2011.

Sales for fiscal year 2012 increased by $27.1 million, or 1.3%, to $2,090.7 million from $2,063.6 million for fiscal 2011. Excluding the 53rd week of 2012, comparable sales decreased 2.0%, consisting of a 1.3% comparable service revenue increase offset by a 2.9% comparable merchandise sales decrease.

Excluding the 53rd week of 2012 and re-categorizing sales, comparable service center revenue (labor plus installed merchandise and tires) increased 0.3%, while comparable retail sales (DIY and Commercial) decreased 4.4%.

Net earnings for fiscal year 2012 were $12.8 million compared to $28.9 million in fiscal 2011. The fiscal 2012 results include, on a pre-tax basis, a net benefit of $3.9 million comprised of $42.8 million of merger termination fees, net of related expenses and a $1.3 million gain from the disposition of assets, mostly offset by a $17.8 million pension settlement charge, a $10.6 million asset impairment charge, $11.2 million of debt refinancing expense and $0.7 million of severance expense.

For more information visit www.pepboys.com.

Related Topics: Auto Parts, Moe & Jack, Pep Boys – Manny, Pep Boys financials

Comments ( 0 )
More Stories
News

Tireco's Milestar Brand Launches Responsive Website

Tireco Inc.'s new mobile responsive website for Milestar tires is designed to showcase updated news, features and available tire sizes while serving as a hub for consumers to interact with the Milestar brand.

Kenda newcomer Chris Tolbert will help expand the Traction Dealer Network.
News

Chris Tolbert Joins Kenda USA

Tire Industry veteran Chris Tolbert has joined Kenda USA's North American Automotive Business team as director of business development. He will report to Vice President Brandon Stotsenburg, who says Tolbert will help "accelerate Kenda’s strong sales and brand awareness in the PCR and LTR segment with premium performance at a value price.”

The new Gabriel training menu is divided into two sections, one for light vehicle training and one for heavy-duty training. Both sections include a series of training videos for dealers and installers to better sell and install Gabriel shocks and struts.
News

Gabriel Website Offers Training Resources

Ride Control LLC has launched its Gabriel website training menu with a series of training options as an expansion of its Answerman technical service offerings. This includes videos, technical bulletins, online catalogs and FAQs for both light and heavy-duty vehicles.

News

Hankook Suffers Sales Slowdown in 2Q 2017

Hankook Tire Co. Ltd. posted income before taxes of 3.1 trillion won on net sales of nearly 17.3 trillion won for the second period ended June 30, 2017. That compares to income of 2 trillion won on sales of 16.4 trillion won for the same period in fiscal 2016.

News

Mighty Reveals New Brake Program

Mighty Distributing System of America Inc. has released an improved brake program that provides a “better” and “best” solution for automotive repair facilities and their customers.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!