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Thursday, November 29, 2007

the Auto Retail Informer November 29, 2007

Auto Retail Informer Intro November 29, 2007

The automotive solutions provider of choice for the value-oriented consumer

We are an enterprise committed to serving the needs of our
communities for safe, reliable and fun transportation. 

We are an organization that cares passionately about cars
and the people who drive them!

Source: Pep Boys 3Q07 earnings conference call slides "strategic focus."  November 28, 2007.

Highlights:

• Pep Boys 3Q07 earnings results
• Drawing cash to redeploy in areas of higher return
• Addressing the fundamental problem of the automotive aftermarket. Spotting future winners in the space (who is winning fleet business?)

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Pep Boys 3Q07 results (11/29/07)

Pep Boys reported third quarter earnings (for the thirteen weeks ending November 3, 2007.)  The company said they lost about $21.7 million (or $1.7 million a week) in the quarter.  And over the last 39 weeks (so year-to-date) they lost $14.2 million (or $365,000 a week.)  

Of course if you factor out about $25.9 million in after-tax charges associated with inventory write-downs, executive severances, legal settlements, and the benefit of company-owned life insurance policy on a former executive, they actually made a little over $4.0 million in the quarter. 

As you know, I like to focus on store productivity.  So below are the per store metrics for the company's service and retail segments: