Rankin Automotive (RAVE) Message Board

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Non-Tech : Rankin Automotive (RAVE)

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To: C. K. Humphries who wrote (14)	1/10/1998 4:14:00 PM
From: John Mattessich	Read Replies (2) of 20

Kent : Regarding Hi-Lo Automotive - they merged with Discount Auto Parts, Inc (DAP) back in October. They combine for about $700M in annual revenue. Pep Boys (PBY) announced their Q3 results a couple of months ago. Although sales were up, comparable store sales were down and earnings were down 13%. They blamed a donwturn in the DIY side of the business. Of course, the nice thing about PBY is that - in addition to DIY and professional installer segments - they also provide the "Do-it-for-me" service. However, the bottom line for PBY is that they are currently trading near their 52-week low. So, if PBY feels the DIY segment of their business is falling off, there's a good chance that the same may happen to RAVE. Fortunately, product sales to DIY customers represents only 30% of RAVE's business. Anyway, it was great to see RAVE recover very nicely on Friday to post a gain while the rest of NASDAQ was taking a beating. John

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