TBC outlines store, franchise expansion plans
TBC Corp. plans to add 20 to 30 new company-owned stores and 15 to 20 new Big O Tires Inc. franchise locations this year.
"We are confident in our ability to meet our 2005 objectives with the addition of new company stores in existing and contiguous markets," says TBC CEO and President Larry Day.
TBC has more than 600 company-owned outlets and 560-plus Big O stores.
"With a strengthened business development team in place at Big O, we plan to aggressively target existing independent tire dealers and convert them to franchisees."
Earlier this afternoon, TBC announced its fourth quarter and full year 2004 financial results.
During the fourth quarter, the Memphis, Tenn.-based company's net sales totaled $487.8 million, a 31.6% jump over third quarter 2003 results.
For the full year, TBC's sales jumped 40.7% to $1.8 billion.