UPDATE: Pep Boys (PBY) Posts Q3 EPS of 2c; Comps Fell 1%
Tweet
Share
E-mailGet Alerts PBY Hot Sheet
Price: $25.00 --0%
Financial Fact:
Interest expense: -3.22M
Today's EPS Names:
OFLX, VAXX, NMRD, More
Financial Fact:
Interest expense: -3.22M
Today's EPS Names:
OFLX, VAXX, NMRD, More
Join SI Premium – FREE
(Updated - December 9, 2013 4:34 PM EST)
Pep Boys (NYSE: PBY) reported Q2 EPS of $0.02, which may not compare with the analyst estimate of $0.14. Revenue for the quarter came in at $507 million versus the consensus estimate of $521.74 million.
Comparable sales decreased 1.0%, consisting of a 1.6% comparable service revenue increase and a 1.7% comparable merchandise sales decrease. Re-categorizing sales (see above), comparable service center revenue increased 0.4%, while comparable retail sales decreased 2.6%.
“Our strategically important maintenance and repair service business grew in sales for the sixth consecutive quarter,” said President and CEO, Mike Odell. "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."
Mike added, "Our Road Ahead format is expanding with the 18 recently acquired Service & Tire Centers in Southern California being converted and the grand reopening of six Supercenters and five Service & Tire Centers in Tampa, Florida. The performance out of the gate of the nine new Service & Tire Centers previously opened this year in the Road Ahead format has been ahead of original projections. And while it has only been a few weeks, we are very encouraged by Tampa's results. While monitoring results, we have begun plans to convert three additional smaller markets (20 Supercenters) in the first half of 2014."
For earnings history and earnings-related data on Pep Boys (PBY) click here.
Pep Boys (NYSE: PBY) reported Q2 EPS of $0.02, which may not compare with the analyst estimate of $0.14. Revenue for the quarter came in at $507 million versus the consensus estimate of $521.74 million.
Comparable sales decreased 1.0%, consisting of a 1.6% comparable service revenue increase and a 1.7% comparable merchandise sales decrease. Re-categorizing sales (see above), comparable service center revenue increased 0.4%, while comparable retail sales decreased 2.6%.
“Our strategically important maintenance and repair service business grew in sales for the sixth consecutive quarter,” said President and CEO, Mike Odell. "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."
Mike added, "Our Road Ahead format is expanding with the 18 recently acquired Service & Tire Centers in Southern California being converted and the grand reopening of six Supercenters and five Service & Tire Centers in Tampa, Florida. The performance out of the gate of the nine new Service & Tire Centers previously opened this year in the Road Ahead format has been ahead of original projections. And while it has only been a few weeks, we are very encouraged by Tampa's results. While monitoring results, we have begun plans to convert three additional smaller markets (20 Supercenters) in the first half of 2014."
For earnings history and earnings-related data on Pep Boys (PBY) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies sees a buying opportunity in this S&P 500 sector
- Benchmark Reiterates Buy Rating on Jumia Technologies (JMIA)
- SEALSQ reports 120% revenue growth, signs key quantum deals
Create E-mail Alert Related Categories
Earnings, Management Comments, Retail SalesRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
