Pep Boys chain posts second quarter gains
Pep Boys - Manny, Moe & Jack posted net earnings of $10.6 million on sales of $504.9 million during the second quarter. That compares to earnings of $7.7 million on sales of $488.9 million during 2Q 2009.
Pep Boys officials attribute gains to "improved total gross profit margin rates," amoung other factors.
For the first half of 2010, the Philadelphia, Pa.-based chain recorded earnings of $22.5 million on sales of slightly more than $1 billion vs. earnings of $18.6 million on sales of $985.4 million posted during the same period in 2009.
"Our results mark the sixth consecutive quarter of improved profitability," says Pep Boys CEO and President Mike Odell.