Pep Boys sales up in Q1

PHILADELPHIA The Pep Boys — Manny, Moe & Jack reported that sales for the first quarter ended May 1 increased by $13.5 million, or 2.7%, to $510 million from $496.5 million for the first quarter ended May 2, 2009. Comparable sales increased 1.4%, consisting of a 0.1% comparable service revenue increase and a 1.7% comparable-merchandise sales increase.

Net earnings for the first quarter of fiscal 2010 increased to $12 million (23 cents per share) from $10.9 million (21 cents per share) recorded in the same period last year.

“For the fifth consecutive period, our quarter-over-quarter profitability has improved,” commented CEO Mike Odell. “And for the first time in many years, we achieved increases in both customer count and sales across all lines of business.”