PHILADELPHIA (March 3, 2006) — The Pep Boys—Manny, Moe & Jack reported lower sales in the fourth quarter and full-year 2005 as comparable service sales, which include tires, also fell in both periods.
The Philadelphia-based automotive retail chain reported a sales decrease of 1.5 percent for the year to $2.24 billion. In the quarter, sales fell 0.7 percent to $549.8 million. Comparable retail sales, which include DIY and commercial sales, increased 0.6 percent for both the year and the quarter. But comparable service center revenue, which includes labor plus installed merchandise and tires, fell 1.3 percent for the quarter and 3.9 percent for the year.
For the quarter, Pep Boys' net loss from continuing operations before an accounting change deepened to $22.7 million from a loss of $9.7 million the prior period.
The firm's loss increased for the year as well. Pep Boys reported a net loss from continuing operations of $35.8 million from a net loss of $25.5 million in 2004.