Pep Boys Announces Improved Sales in August
31 August 2000
Pep Boys Announces Improved Sales in August
Business EditorsPHILADELPHIA--Aug. 30, 2000--The Pep Boys - Manny, Moe & Jack , the nation's leading full-service automotive aftermarket chain, announced improved sales results for the four weeks ended August 26, 2000.
Four Weeks Ended August 26, 2000
Sales for the four weeks ended August 26, 2000, were $199,669,000, 3% more than the $193,769,000 recorded last year. Service labor revenue, exclusive of installed product, climbed to a record $37,325,000, 6% greater than the $35,378,000 recorded last year.
Comparable store sales, which includes comparable merchandise sales and comparable service labor revenue increases of 1% and 4%, respectively, rose 2% during the period. The calculation of comparable store sales includes the 651 (of the company's 665) stores that were open in both years and excludes replacement stores.
Service labor revenue, installed merchandise, tires and commercial delivery accounted for approximately 56% of total sales.
Thirty Weeks Ended August 26, 2000
Sales for the thirty weeks ended August 26, 2000, rose to $1,448,365,000, 1% greater than the $1,427,488,000 recorded last year. Service labor revenue, exclusive of installed product, increased to a record $271,538,000, 5% more than the $259,713,000 recorded last year.
Comparable store sales, which includes a comparable merchandise sales decrease of 1% and a comparable service labor revenue increase of 3%, were unchanged during the period. The calculation of comparable store sales includes the 651 (of the company's 665) stores that were open in both years and excludes replacement stores.
Service labor revenue, installed merchandise, tires and commercial delivery accounted for approximately 55% of total sales.
Commentary
Pep Boys' Chief Executive Officer, Mitchell G. Leibovitz, made the following comments:
"We are pleased to report positive and improving sales for August. In addition to the fact that comparable store sales for the period were approximately four points better than we achieved during the second quarter (see table below), we are encouraged to report that sales improved on a weekly basis as the month progressed.
"From a regional standpoint, our 210 store Western division, which includes 136 stores in California, lead the way with a same store sales increase of 4%."
Pep Boys Comparable Store Sales
Recent Comparisons
Four Thirteen
Weeks Ended Weeks Ended
August 26, 2000 July 29, 2000
---------------- ---------------
Total + 2% - 2%
Revenue Categories:
- Service Bays
Labor(2) + 4% Unchanged
Installed Merchandise(1) + 2% - 3%
----- -----
Service Sub-Total + 3% - 2%
- Retail(1) - 2% - 6%
- Commercial(1)(2) + 14% + 15%
- Total Tires (included above(1)) + 8% Unchanged
- Total Labor (included above(2)) + 4% Unchanged
Pep Boys Comparable Store Sales
Four
Weeks Ended
August 26, 2000
---------------
Total + 2%
Revenue Categories:
- Service Bays
Labor(2) + 4%
Installed Merchandise(1) + 2%
-----
Service Sub-Total + 3%
- Retail(1) - 2%
- Commercial(1)(2) + 14%
- Total Tires (included above(1)) + 8%
- Total Labor (included above(2)) + 4%
Thirty
Weeks Ended
August 26, 2000
---------------
Total Unchanged
Revenue Categories:
- Service Bays
Labor(2) + 2%
Installed Merchandise(1) + 1%
-----
Service Sub-Total + 2%
- Retail(1) - 5%
- Commercial(1)(2) + 12%
- Total Tires (included above(1)) + 5%
- Total Labor (included above(2)) + 3%