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The Pep Boys: Manny, Moe & Jack, which is branded and commonly abbreviated as Pep Boys is a full-service and tire automotive aftermarket chain based in the United States Of America. It was originally named Pep Auto Supplies founded by Emanuel (Manny) Rosenfeld, Maurice L. (Moe) Strauss, W. Graham (Jack) Jackson, and Moe Radavitz in 1921. Its headquarters is located in Philadelphia neighbourhoods of East Falls, Pennsylvania. Pep Boys operate over 800 stores and approximately 7,500 service bays in 35 states of USA and Puerto Rico. The company serves the commercial auto parts delivery market along with its wide range of repair capabilities and vehicle maintenance. It also sells replacement tires in the United States.Pep Boys – The service and tire automotive chain
Current Market Value
Pep Boys generated the net sales or revenue of US $2.08B in 2015, which was higher as compared to its sales in 2014 (US $2.07B). Likewise, its profit in the fiscal year 2015 were reported as $475.44M. Going back in yesteryears, in 2005, The Pep Boys was named one of the 500 fastest-growing companies in the United States.
The company’s main source of income is generated from the parts and services offered to customers. Approximately 63% of its revenue earned during the last fiscal period was through this. The share of revenue from parts and services increased by 3.47% between 2009 and 2010. The availability of repair parts easily in its stores is one of the reasons for this noteworthy growth.
Tire division is the most improved segment at Pep Boys from 2009 to 2010. The 17% of total revenue earned in 2010 was up by 7.08%, earned in 2009. Finding tire information is a daunting task for those do it yourself people. Through Pep Boys website, the company has made this task easier than ever by offering a diagram that helps customers figure out just what tire they currently have and what they can replace it with.
The second largest source of income comes from all the service it provides. This is justified because of its newly developed side door bays that allow customers to bring in their vehicles and let Pep Boys work on them. This segment has shown a 3.49% increase in revenue from 2009.
The original “Pep Boys”, Emanuel “Manny” Rosenfeld, Maurice “Moe” Strauss, Graham “Jack” Jackson, and Moe Radavitz, were four friends who chipped in $200 apiece to open a single auto parts store. The company was operating under the name “The Pep Boys” until 1923. Strauss suggested to change the store’s name to “The Pep Boys — Manny, Moe & Jack”, officially.
Pep Boys operated through 40 stores in Philadelphia by the early 1930s. Manny’s brother, Murray Rosenfeld, had opened the first West Coast Pep Boys store during the same period. In 1939, Izzy Strauss left to form his own auto supply business. In 1946, the company went public, and Manny Rosenfeld became the company’s first corporate president. Moe Strauss served as the president after Manny’s death till 1973. Mitch Leibovitz became the first non-founding family member to be named company president in 1986.
A bulk of Pep Boys stores today are set up in a typical Supercenter format. The purpose of this is to provide multiple services and items for any desire of a customer. For instance, there are specialty stores that operate in ‘Do it for me’ format and then there are other specialty stores that operate only in ‘Do it yourself’. But unlike others, at Pep Boys a customer can find both of these categories. Recently it has taken a step forward by adding tire centers to its Supercenter stores.
At Pep Boys customers can receive services such as tire alignment, installation, replacement, puncture repair work along with battery installation and others. Lastly a service that none of the vehicles can avoid is oil changes which it can schedule at Pep Boys side door service bays.
The recent acquisition of 17 discount tire centres has increased its value in the stock market. Analysts are seeing Pep Boys earnings improving, and offering a combination that many of its peers don’t. So this is definitely the high time to invest in its shares for better returns in future.
Pep Boys Properties For Sale Across the United States :
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming