The Pirate guy is gone and so should they. You seem very knowledgable. I used to run a few dozen parts stores and the Pep Boys used to spend about $10K a month per location just for hardparts they didn't stock. They also bought from 2 other competitors. I had the stuff on the shelf as they should have. That's why I know their inventory sucks in hardparts. I wouldn't even give them a discount. I charged them full retail and finally quit selling to them. I agree with your assessment of the AZO exec. I posted a few years back that he was not the talent they needed. He should be let go now especially with the poor numbers. DaninFW
Ugh, a chief customer foficer, what is that? Sounds like something Facebook would have. Just throwing money away really. They already brought an AZO guy to be EVP of stores and still there's been no real improvement, what's this guy going to bring and why (oh why oh why) was a new position created. If Schull couldn't handle the "customer experience" being part of Store Ops, then replace him, don't add another executive.
Most of the stuff you cite as changing frquently is actually not hard parts but more accessory type stuff and fluids. Those things sell in a high enough volume that changing that out isn't that hard, and even if PBY misses the boat at first it would be able to recover and not have obsolete inventory. 10W40 oil isn't obsolete, its just slow-turning.
When i think hard parts that are obsolete, I think of of an alternator for 1977 Dodge Dart. Those PBY might have written off (or not) since we don't know if inventory writeoffs are cheap 4-wheelers or old parts.
As for the board, some of those you list are those that were put on there by Anchor/Pirate to appease them. I'm not sure they can be removed mid-tenure for no reason, and it's hard to blame PBY Mgmt for these members who were forced on them by shareholders.
I'd have to go back and check my previous notes/postings but PBY a few years back took a massive write down for obsolete merchandise........and the stock took a bath. I've been retired from autoparts a little over 5 years so not as current as I was then but every year they need to update filters, brakes, etc. It actually got where we were updating oil by viscosity as well as transmission fluid each year. Years ago that never happened with fluids. As for batteries I actually remember when it was a big deal when our battery manufacturer went from making them using only 28 internal parts versus 42....which meant less could go wrong. I also am not saying they need to stack the board with autoparts pros and I would be happy with 3-4 with retail experience, but academics, hedgies, CPA's and guys from legwear firms aren't going to cut it IMVHO. I would also add that the hiring of a new exec in the six figures finally admits that their customer service, culture and company is broken. They announced the exact minute the market closed. Might be interesting tomorrow. This also puts a flag out saying we don't have anyone interested in buying us right now. DaninFW
I've hammered this for years. Here's a list. Google them. One is a CPA. One is President of a University. One is a CEO of a grocery chain. One runs a legwear company. I think 3 list pep boys as their primary company which means they are basically unemployed. One is a global investment banker which probably is the only one of any significance since he has M&A experience. O'Dell comes from Sears aka K-Mart which explains a lot as well since he doesn't know autoparts. He just knows service. This board should be comprised of at least 40% people from the industry. No wonder they don't have a clue. You can also bet that most if not all on this board don't work on their own cars. Just FYI. DaninFW