Pep Boys Launches TreadSmart E-Commerce Effort
Pep Boys has launched TreadSmart, a new online system that allows customers to research tires, compare features and pricing, make an online purchase, and schedule service appointments. TreadSmart, according to the retailer, “asks tire buyers questions about their driving habits and then makes recommendations based on that information,” and then make purchase online and “schedule
Tire Thieves Hit Maryland Pep Boys
Three men were busted as they were trying to steal tires from a Frederick, Md., Pep Boys store. The men were charged with burglary and conspiracy after being arrested for the Feb. 5 crime. Police said the men used a rented box truck, getting away with some 130 tires from the Pep Boys on West
Investment Group Buying Pep Boys
Pep Boys is being bought out by investment firm Gores Group in a deal worth an estimated $1 billion. Under the terms of deal, the Los Angeles-based Gores Group will acquire all the outstanding common shares of Pep Boys for $15 per share in cash, a premium of 24% over Pep Boys’ Jan. 27 closing
Pep Boys Gets New Chairman
Parts and service chain Pep Boys has named board member Robert Hotz as its new chairman. A board member since 2005, Hotz was senior managing director and co-chairman of Houlihan Lokey Howard & Zukin Inc., an investment firm based in Los Angeles. Hotz succeeds Max Lukens, who resigned for personal reasons.
Pep Boys Sees Income, Revenue Grow in 2Q
Pep Boys reported its second quarter net income increased nearly 32%, while its revenue rose just 3.5% to $523 million, less than analysts’ predicted $529 million. The Philadelphia-based company earned $13.9 million for the second quarter ended July 30, up from $10.6 million in the same period in 2010. Pep Boys’ 2010 sales for the
Birthday Bash for Pep Boys at NYSE
Pep Boys celebrated its 90th birthday in style on Aug. 1, cutting cake on the floor of the New York Stock Exchange after ringing the exchange’s closing bell for the day. CEO Mike Odell was joined by Pep Boys executives to join the closing bell, and then cut and served birthday cake with an assist
Pep Boys Expands Houston Footprint
Pep Boys has acquired the seven-store, Houston-based auto service chain My Mechanic. The seven stores will be converted over to Pep Boys tire and auto service centers, the retailer said. Year to date, Pep Boys has added 102 Service & Tire Centers, expanding its total count to 155, in addition to its 560 Supercenters nationwide.
Analysts See Potential in Pep Boys Strategy
Following the release last week of Pep Boys’ first quarter 2011 results, in which the company noted it is continuing its aggressive service center growth strategy, BB&T Capital Markets said the parts and service retailer is on the right track for the long run. “We believe that management is on the right path to transforming
Pep Boys Buys Big 10 Tires
Philadelphia-based Pep Boys, which recently wrapped up the purchase of seven Big O Tire stores in the Pacific Northwest, has purchased the 85-store Big 10 Tires Chain in the southeast. Terms of the transaction were not disclosed. “This acquisition furthers our stated strategy to grow through service and tire centers,” said Mike Odell, Pep Boys
Pep Boys Buys Wash. Big O Stores
Pep Boys has bought the assets of seven Big O Tires locations in the Pacific Northwest. The parts and tire retailer bought stores owned by Big O franchisee Herb Davenport located in the Seattle-Tacoma, Wash., area. The deal was done in March, and Pep Boys intends to convert them to its brand.