Bridgestone Buying Pep Boys
Bridgestone Americas’ Bridgestone Retail Operations has entered into an agreement to acquire Pep Boys in an all-cash transaction for roughly $835 million. The acquisition of Pep Boys accelerates Bridgestone Corp.’s global growth. The purchase will add approximately 800 locations to Bridgestone Retail Operations’ nationwide network. Currently, BSRO operates approximately 2,200 tire and automotive service centers
Plombco Preferred Pep Boys Vendor
Pep Boys has selected Plombco as its preferred wheel weight vendor for its locations. Pep Boys operates in more than 800 locations across 35 states and Puerto Rico.
Pep Boys Reports Losses
Pep Boys posted a net loss of $27.3 million for its fiscal year 2014, which ended Jan. 31. That compares to a $6.9 million net earnings for the 2013 fiscal year. The results for 2014 included a $23.9 million goodwill impairment charge, a $7.5 million assets impairment charge, as well as 4.0 million in litigation
Odell’s Sudden Departure Leaves Pep Boys Future Cloudy
Late on Sept. 26 it was learned that Pep Boys president and CEO Mike Odell had “resigned,” effective immediately. Short-term, Odell is replaced by interim CEO John Sweetwood while the company searches for its four CEO over the last eight years. The company said it will look at both internal and external candidates for a
Pep Boys 1H Sales Up, Net Off
Pep Boys’ first half 2014 sales edged up slightly compared to the year prior, even as net earnings fell year-over-year. For the period, Pep Boys reported first half sales of $1.065 billion, up 0.1% from $1.064 for the same period last year. Overall comparable store sales feel 1.6%, but comp service sales rose 4.3% for