Small beginnings can lead to big things. That’s certainly true in the case of Pep Boys, which was founded in 1921 by four Navy buddies who pooled together $800 to open an auto parts store in Philadelphia. Today, with some 750 stores across the United States and Puerto Rico, the Philadelphia-based company is one of the nation’s leading auto supply and service providers.
The retail sector continues to edge tentatively toward recovery, buoyed by a strong start to the holiday shopping season, but several obstacles stand in the way of sustained progress in 2012, according to Jones Lang LaSalle’s North America Year-end Retail Outlook.
Wal-Mart Stores plans to expand its presence in the smaller cities of China, Ed Chan, CEO and president of the company’s China operations, said today at an investor meeting by video conference, Bloomberg reported.