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Pep Boys -12.4% AH on weaker-than-expected FQ3

Pep Boys (PBY) shares plunge 12.4% in AH trading after the company missed expectations in FQ3.

Revenue fell 0.5% Y/Y to $507M on the back of a 2.8% comparable sales decline (made up of a 0.5% service revenue increase and 3.6% merchandise decrease).

CEO Mike Odell observed, "As the weather has turned colder, tire sales have started to improve, with mid-level price points and branded tires leading the way. Competitive pressures, however, continue to challenge sales of lower price point tires." The performance of 18 recently-acquired Service & Tire Centers in California "has been ahead of original projections," he added.

Conference call at 8:30am ET tomorrow, PR

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Comments (1)
  • Nitin B. Sharma
    , contributor
    Comments (203) | Send Message
    PBY was on my radar last year, but then dropped off. It came back when I heard Mario Gabelli talk about it on CNBC. See this video from November 12. Fast forward to minute 8:00.



    Thank God I didn't listen to him.
    9 Dec 2013, 06:02 PM Reply Like
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