Pep Boys sees sales, earnings growth in Q3

PHILADELPHIA The Pep Boys – Manny, Moe & Jack reported that sales for the third quarter ended Oct. 31 increased by $8.4 million, or 1.8%, to $472.6 million from $464.2 million for the third quarter ended Nov. 1, 2008.

Comparable sales increased 1.6%, consisting of an 8.9% comparable service revenue increase and a 0.1% comparable-merchandise sales decrease.

Net Earnings for the third quarter of fiscal 2009 increased to $2.1 million (4 cents per share) from the $7.3 million loss (14 cents per share) recorded in the same period last year.

“We are pleased to report our first comparable store revenue increase since the fourth quarter of 2006, as well as our first increase in overall customer count since the first quarter of 2004,” said CEO Mike Odell.