Pep Boys Reports 3Q Loss


Pep Boys-Manny Moe & Jack on Monday reported a loss of $2 million in its fiscal third quarter.

The Philadelphia-based company said it had a loss of 3 cents per share. Losses, adjusted for severance costs and asset-impairment costs, came to 1 cent per share.

The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The auto-repair chain posted revenue of $517.6 million in the period.

In trading Monday, shares dropped 32 cents to $9.36, a decline of 30 percent in the last 12 months.

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