2011 was not a pretty year for parts and tire retailer Pep Boys, which saw net earnings for the year fall 21% compared to the year prior.
Sales for the fiscal year rose a meager 3.8% to $2.06 billion, ended Jan. 28, but net earnings fell from $36.6 million for 2010 to $28.9 million last year.
For 2011, Pep Boys had 738 stores in the U.S., operation, 169 of which were listed as “Service & Tire Centers,” which are said to be smaller locations totally focused on tires and related service.
The company is in the process of being acquired by Los Angeles-based investment firm Gores Group LLC in an estimated $1 billion deal.