Pep Boys Reports Comps +3.1% (PBY)

Pep Boys PBY sales for the fourth quarter of fiscal 2010 increased by $24.5 million, or 5.4%, to $477.4 million from $452.9 million for the fourth quarter of fiscal 2009. Comparable store sales increased 4.3%, consisting of a 3.4% comparable store service revenue increase and a 4.6% comparable store merchandise sales increase. In accordance with GAAP, service revenue is limited to labor sales, while merchandise sales include merchandise sold through both our service center and retail lines of business. Re-categorizing sales into the respective lines of business from which they are generated, comparable store service center revenue (labor plus installed merchandise and tires) increased 5.8%, while comparable store retail sales (DIY and commercial) increased 3.1%.