I agree with numbers you have...revenue was light but all investors seem to care about is next quarter guidance with both EPS and revenues...NEITHER of which Pep Boys has given yet so if management comes out tomorrow at 8:30 and gives positive guidance then this AH trading is all for not and it trades higher tomorrow probably above $11 with almost 13% of the float short.....if guidance sucks then back under $10 to be unbiased....
They missed revenues by 18 million dollars. I covered my short at 9.99.
Pep Boys Swings to Third-Quarter Loss on Charges, Weak Sales
Last Update: 12/3/2012 5:25:10 PM
By Kristin Jones
Pep Boys-Manny Moe & Jack (PBY) swung to a fiscal third-quarter loss as the
auto-care company recorded one-off charges, and its sales sank.
Shares fell 6.5% after hours to $9.99. Through the close, the stock was down 2.9%
so far this year.
Pep Boys' core profits have declined in recent quarters; the company blamed a
mild winter, a slowdown in consumer spending and business-execution problems. Pep
Boys has said it is making changes and expects to return to year-to-year profit
in the third and fourth quarters.
Chief Financial Officer David Stern said the company refinanced its debt in the
latest quarter, adding a one-time cost of $11.2 million. But he said the move
will reduce annual interest expenses by $11 million.
In May, private-equity firm Gores Group lLC dropped its bid to take the
auto-parts and services company private in an $804 million deal. The proposed
acquisition, which followed nearly two years of deliberations, soured after the
company's results began to deteriorate.
For the quarter ended Oct. 27, Pep Boys reported a profit of $6.8 million, or 13
cents a share, compared with a year-earlier profit of $7 million, or 13 cents a
share. The latest quarter included the debt-refinancing charge and an asset
write-down of $8.8 million.
Sales fell 2.4% to $509.6 million.
Analysts polled by Thomson Reuters recently predicted per-share earnings of 15
cents on revenue of $528 million.
Same-store sales fell 2.7%. Comparable service-center revenue edged up 0.2%,
while comparable retail sales were 3.5% lowe