TBC projects sales of $1.7 billion to $1.8 billion
TBC Corp. expects to achieve sales of $1.7 billion to $1.8 billion in 2004.
TBC's outlook includes anticipated contributions from the 225 National Tire & Battery (NTB) stores it acquired from Sears, Roebuck & Co. several weeks ago.
Most NTB contributions are expected to materialize during the second half of 2004.
"To ensure the success of the 225 acquired NTB stores, TBC is devoting significant resources to the integration (of the chain)," say TBC officials.
"As a result, comparable store sales in 2004 are expected to be in line with industry growth rates that are currently projected at 2% to 3%."
TBC officials say the Memphis, Tenn.-based company usually targets store sales in excess of industry growth rates.
"All projected increases are based on year-over-year comparisons to expected 2003 results, including anticipated net sales of approximately $1.3 billion."
For the year ending Dec. 31, 2004, TBC expects earnings in the range of $1.80 to $1.90 per diluted share, which represents an increase of at least 25% on a year-over-year basis.