The Pep Boys - Manny Moe & Jack reported third-quarter profit that more than doubled on a 5 percent rise in sales. The company said it is on target to add 35 stores this year.

Shares were up 5.2 percent, to $13.63 in midday trading. The company released earnings after the market closed Monday.

The Philadelphia-based auto service and retail chain said the three months that ended Oct. 30 saw net earnings of $5.7 million, or 11 cents per share, compared with $2.1 million, or 4 cents per share for the same period a year ago.

Sales increased to $496.4 million in the latest quarter, from $472.6 a year earlier.

Same-store sales - a measure of retail performance at stores open for at least a year - increased 3.5 percent, including a 1.9 percent increase in service-bay revenue and a 3.9 percent rise in merchandise sales, the company said.

Chief executive Michael Odell said the company added eight new stores during the quarter and likely will have added 35 for all of 2010. The chain has about 600 stores.    - Reid Kanaley