Pep Boys reports sales growth
Pep Boys - Manny, Moe & Jack's sales for the nine weeks leading up to Dec. 31 totaled $401.5 million versus $391.2 million for the same period the previous year.
Pep Boys' comparable merchandise sales grew 2.5%. However, its service sales -- which includes tires -- fell 3.1%.
"While a substantial portion of the seasonally slow quarter remains, we believe we are on plan with our retail business, reflecting modest revenue increases and year-on-year margin improvements," says Pep Boys CFO Harry Yanowitz.
Pep Boys plans to release its fiscal 2005 annual report this March.