A continuing sad story of an auto parts company in decline is more stuff that is not auto related at all.
Say you do buy the 400 watt electric scooter for the Black Friday price of 199.98 (upper right corner of todays PBY ad), and you have any problem at all with it, can you expect any Pepboys store to be able to repair it or service it?
Nope - they are unqualified. And make no appologies for that shortcoming either. Call up a store and ask about that particular serviceablilty - you will get their hands off story of how you have to contact the manufacturer. Hope you know how to dial China.
Today's price of under 8 bucks puts them in the running to be bought out by Exxon - who knows how to run a business.
They will also buy it on the cheap, because it is a POS company that has been unable to run itself right (i.e., no earning for a long long time) even during the the highlight of its forte of a recession/depression.
If Patrick ever shows his face again here, it will have egg all over it.
What are the high rollers doing on this message board anyway? Martha you are right and PBY is a lost cause. Dan is correct also, Exxon is way to smart to get involved in purchasing PBY.
Some thing is very wrong and until it is fixed PBY will continue to get the same results.
Every new CEO that PBY has hired has come in with their own agenda. Currently the emphasis is in the service center. Others thought that revamping of the sales floor would turn PBY around. Listen, until someone comes in and puts their energy on both the retail and service center this company will go nowhere.
PBY was built on retail and service. Today they lack both. Why, because too much goes to either retail or service. If you speak to the area managers they tell you that everything is great with this new CEO because he came from a service background at Sears. Where is Sears now? If you spoke to them when the Larry Stevensen was in charge they would say that everything was great because he came from a retail background. With Jeff Rachor you heard the same. He is taking PBY in the right direction. Not one of these guys will turn PBY around because their focus is either on service or retail, not both. Service and Retail are important and both must be given the same level of importance, until then don't expect much. Get rid of none automotive, and get back to basics. If autozone who does not rely on service can be successful, why not PBY.
All this started many years ago and not one CEO since has been able to correct this sinking ship. The area managers and VP's are just yes men and will not voice their opinion because they are afraid to get fired. I don't blame them I quess, but someone has to come up to the plate.
Very well said and pretty much what I have reiterated over the years. PBY has the weakest management team in the industry. PBY is a buy because things are improving DESPITE management incompetency. The stock would be $18-20 today if they had sales fixed. Sales Cures All. Retail is the biggest profit center. In the old days, they lured them in for service and while waiting the customers would wander the store and load up on impulse buying. Today, things are different. Autoparts is a destination business and customers are buying essentials which PBY's lacks. PBY can build sales with service but will impact margins heavily. BTW, I wasn't always a highroller. I used info from these boards and the minds of a lot of people smarter than me to get rich. I plan to stay that way which is why I follow these boards. You just have to be smart enough to ignore the dribble. As said many times, Information Is True Power. DaninFW
By the way Martha, if you buy that same electric scooter at Target, Wal-Mart, Sam's, Costco, wherever.......none of them work on them either.....it all boils down to who has the best price since service is a non-issue. DaninFW
Martha, you've been posting for over 10 years this garbage and only surface when stock is down. In a week and a half PBY will be $10 again.....please come back to play then.....by the way, since you are such an expert on Exxon, about a year ago they announced they were selling all of their convenience stores/gas stations as they only wanted to produce and refine gas and oil. You really need to keep up with Exxon....they also got burned when they bought Montgomery Ward and Hefty trash bags over 10 years ago......they ain't buying PBY's in this century either......stock was down on very low volume with last trade $7.93 until the last trade crossed after closing with 102,000 at $7.97......which means the MM took out the Big seller at the close as he has confidence and took advantage of probably the only time you will get PBY below $8 again......DaninFW