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Archive: June, 2013

POSTED: Tuesday, June 11, 2013, 5:57 PM
Filed Under: Consumer Products

It was one year ago that the CEO of Pep Boys — Manny, Moe & Jack told analysts that his intent was to grow the auto-parts retailer, not sell it.

Mike Odell’s comments came shortly after a Los Angeles-based private-equity firm had dropped plans to take Philadelphia-based Pep Boys private in a deal worth $15 per share.

As Pep Boys shareholders prepare to gather for their company’s annual meeting Wednesday, I hope one will ask whether when Odell expects to deliver that growth, because there have been scant signs of it in the last three years. The 763-store retailer generated total revenues of $2.09 billion in its fiscal year ended Feb. 2 compared with $2.06 billion in the previous year and $1.99 billion the year before that.

About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

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