Pep Boys posts third quarter gains
Pep Boys - Manny, Moe & Jack posted net sales of $472.6 million on earnings of $2.1 million during the third quarter. That compares to sales of $464.2 million on a loss of $7.3 million during the same period in 2008.
Pep Boys' comparable store sales increased 1.6% during 3Q 2009.
"We are pleased to report our first comparable store revenue increase since the fourth quarter of 2006, as well as our first increase in overall customer count since the first quarter of 2004," says Pep Boys CEO Mike Odell.
"We also are excited about the acceleration of our strategy to add service and tire center locations surrounding our existing Supercenters. During the third quarter, we acquired 10 Florida Tire locations to increase our total presence in the Orlando market to 16 stores. We also opened four other service and tire centers -- two in Southern California and two in Chicago -- bringing our year-to-date openings to 20 as we pursue our strategic growth plan."