Citing a hefty boost in its automotive-repairs business, the Pep Boys - Manny, Moe & Jack said today that sales and profits were up during the third quarter, which ended Oct. 31.
Sales at service centers open at least a year were up 7 percent, including the value of labor and parts used by automotive technicians at the 580-store chain headquartered in Philadelphia.
Total revenue for the quarter, including merchandise sales, reached $472.6 million - an increase of 1.8 percent from the same period a year ago.
Net profits also were up $2.1 million (4 cents per share) compared with a $7.3 million loss a year ago (14 cents per share), the company said. Those results reflect a $3.3 million asset impairment charge that was partially offset by a $1.3 million gain from sale leasebacks.