This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pep Boys Reports Second Quarter 2013 Results

The Pep Boys Manny, Moe & Jack (NYSE: “PBY”), the nation’s leading automotive aftermarket service and retail chain, announced the following results for the thirteen (second quarter) and twenty-six (six months) weeks ended August 3, 2013.

Second Quarter Sales

Sales for the thirteen weeks ended August 3, 2013 increased by $1.9 million, or 0.4%, to $527.6 million from $525.7 million for the thirteen weeks ended July 28, 2012. Comparable sales decreased 1.3%, consisting of an increase of 0.2% in comparable service revenue and a decrease of 1.7% in comparable merchandise sales. In accordance with GAAP, service revenue is limited to labor sales, while merchandise sales include merchandise sold through both our service center and retail lines of business. Re-categorizing sales into the respective lines of business from which they are generated, comparable service center revenue decreased 0.1%, while comparable retail sales decreased 2.6%.

Earnings

Adjusted operating profit for the second quarter of fiscal 2013 was $19.4 million as compared to $15.5 million for the second quarter of fiscal 2012. On a GAAP basis including a $1.7 million asset impairment charge in fiscal 2013, and a $0.7 severance charge and the reclassification of $1.5 million of merger related costs in fiscal 2012, operating profit for the second quarter of fiscal 2013 was $17.7 million as compared to $16.3 million for the second quarter of fiscal 2012.

Net earnings for the second quarter of fiscal 2013 were $5.4 million ($0.10 per share) as compared to $33.0 million ($0.61 per share) for the second quarter of fiscal 2012. In addition to the above-referenced items, the 2013 net earnings reflect a $2.5 million tax burden primarily due to state tax law changes, while the 2012 net earnings included, on a pre-tax basis, $43.0 million of merger termination fees, net of related expenses.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs