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Non-Tech : Pep Boys (PBY) Automotive Parts and Accessories
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To: LLCF who wrote (87)4/15/1998 10:17:00 PM
From: Investor2   of 116
 
Parts Delivery Rollout Accelerates
PHILADELPHIA--(BUSINESS WIRE)--April 15, 1998--Pep Boys - Manny, Moe & Jack (NYSE: ''PBY''), the nation's leading automotive aftermarket retail and service chain, announced that the rollout of its parts delivery program was significantly ahead of schedule and would be substantially completed by the end of the second quarter.

The company now anticipates that approximately 200 stores will be added to the parts delivery program during the current (first) quarter and approximately 140 stores will be added to the parts delivery program during the second quarter which ends on Aug. 1, 1998.

At that point in time, approximately 600 stores will be delivering to the professional and the rapid, chain-wide rollout will have been completed. Additional stores will be added to the program as new stores are opened or additional stores satisfy the company's parts delivery criterion.

Pep Boys' CEO, Mitchell G. Leibovitz, made the following comments:

''We are extremely pleased to report that the rollout of our parts delivery program will be completed well ahead of schedule. Although the start-up costs associated with this program will have a negative impact on our first and second quarter earnings, the early introduction of parts delivery in so many of our stores should speed the sales ramp-up and profitability of the program.

''With our ability to now satisfy the product requirements of the professional installer, Pep Boys becomes the only chain that serves all four automotive aftermarket customer segments - do-it-yourself, do-it-for-me, buy-for-resale and tires.''

Best wishes,

I2
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