Pep Boys reported 1Q earnings from continuing operations (before change in accounting principle) to be a loss of $0.02 a share versus $0.04 in the prior year period and a $0.05 loss projected by Zack’s consensus estimate. Comparable sales were down 0.9%, with comparable Retail Sales (DIY and Commercial) down 3.0% and comparable Service Center Revenue (labor plus installed merchandise and tires) up 2.2%. The company has been struggling with their turn around efforts, particularly in the area of service. Management indicated they have “stabilized service center operations” with a substantial sequential improvement.

Our quick thoughts: We continue to think the biggest problem wit ...

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Related Companies: Pep Boys