TORRANCE, Calif. (Sept. 26, 2001)— Performance Management Inc. has repaid a $5 million loan from Goodyear related to its May 15 acquisition of Winston Tire Co. from the Heafner Tire Group.
New management of the 132-store Winston Tires chain said it plans to open at least four additional outlets by year's end—the first of which is slated for opening Oct. 1 in Sonoma County, Calif.
Meanwhile, the Torrance-based retailer said it is using Hollywood-style animation to reintroduce the image of its late founder, Sam Winston, in print and electronic advertising based on the tag line: "Nobody sells tires for less."
Vice President of Sales Mark Doran said buyers in the company's markets still have fond memories of Sam Winston, who died in an auto accident in 1995.
Winston Tires, which claims to be North America's fifth largest and California's largest independent tire retailer, said its new management team, headed by chairman and turnaround specialist Bryant Kountz, is “on track and ahead of schedule” in returning the chain to the leadership role it once enjoyed under Mr. Winston's direction.
Company President and COO Ron Vines said that “rather than chase new fads to regain lost revenues, Winston Tires has chosen to return to the fundamental principles of our founder—quality brands, low prices, legendary service and a competitive attitude.”
After several years of declining sales under prior management, Winston Tires increased sales by 44 percent during the Labor Day period, the company said.