Shares of Pep Boys - Manny, Moe & Jack declined 13 percent a day after the Philadelphia auto parts retailer announced that it had lost money for the third quarter.
Pep Boys swung to a net loss of $6.8 million, or 13 cents per share, compared with net earnings of $7.0 million, or 13 cents per share, for the third quarter of 2011.
Sales for the 13 weeks ended Oct. 27 fell by 2.4 percent to $509.6 million from $522.2 million for the same quarter last year.
Sales at stores open at least a year were down by 2.7 percent. In early afternoon trading, Pep Boys shares were down $1.46 to $9.22.
- Mike Armstrong