Pep Boys-Manny, Moe & Jack's sales rose slightly in the second quarter as comparable store sales increased 0.4 percent.
In the quarter, the automotive service chain reported sales of $578.6 million, up from $577.4 million last year. Comparable retail sales, which include DIY and commercial sales, fell 0.5 percent as comparable service center revenue-including labor plus installed merchandise such as tires-rose 1.7 percent.
Net earnings in the quarter improved to $1.47 million from $832,000 the prior period.
For the first half of the year, sales fell 0.6 percent to $1.14 billion as comparable retail sales slipped 1.7 percent and comparable service revenue rose 2 percent. Net earnings improved to $603,000 from a net loss of $1.55 million last year.
During the second quarter, Pep Boys' CEO Larry Stevenson resigned after three and a half years. Non-executive Chairman William Leonard replaced him as interim CEO.
``During a time of transition and external distraction for the company and in a difficult macro environment, the company posted flat operating results,'' Mr. Leonard said in a statement. ``While we need to begin posting significant absolute improvements, I believe the resilience of this organization reflects the talents of its store employee base and the strength of its customer franchise.... I remain convinced that the company's best days are ahead of it.''