More stores, private brand sales on TBC's Q4 agenda
TBC Corp. plans to open 11 Tire Kingdom stores and 20 Big O Tires Inc. franchise outlets during the fourth quarter, TBC CEO and President Larry Day told investors this morning.
"We still have opportunities ahead of us," following a record third quarter.
"Expansion of Tire Kingdom will continue on the east coast," says Day, with a long-term goal of 1,000 stores.
Meanwhile, Big O expansion will continue in the western United States, with a long-term goal of 800 locations.
Another Q4 objective will be boosting the amount of private brand tires sold at Tire Kingdom, including Merchant's Inc. facilities acquired by TBC earlier this year.
When TBC bought Merchant's, its private label mix "was very low, 10% of (its) total mix," according to Day.
"Today, we're in the 30% range, and headed up."
Private label tires comprise about 40% of total tire sales at Tire Kingdom locations, he says.