Big O growth rate slows
Big O Tires Inc. had a "solid" second quarter, according to TBC Corp. CEO and President Larry Day, "but experienced a slower growth rate vs. the first quarter."
"Our new store development at Big O is off to a slow start" due to recent personnel changes at Big O´s Englewood, Colo., headquarters.
"But we remain optimistic we´ll deliver 20 to 30 new (Big O franchise) stores this year."
Though TBC declined to reveal Big O´s Q2 financials yesterday, the Memphis, Tenn.-based private brand marketer´s overall second quarter net income was $9.1 million on net sales of $456.5 million.
That compares to TBC´s net income of $8 million on sales of $328.8 million for the same period in 2003.
TBC´s total unit tire sales increased 18.4% during the second quarter.
Same store sales for its retail segment -- which includes Big O, Tire Kingdom Inc., and National Tire & Battery outlets -- grew 1.1%.
TBC has 570 Big O franchises.