Pep Boys Trading Higher in After-Hours Trading

After reporting 3.5% comps and a net earnings double of $0.11 from $0.04 per share in the same period last year, Pep Boys

is trading higher in after-hours trading today. Pep Boys' comparable store sales increase consisted of a 1.9% comparable service revenue increase and a 3.9% comparable merchandise sales increase. "Our third quarter results reflect sales growth, improved overall gross margin rate and operating expense leverage, which is consistent with our long-range goal of achieving a mid-to-high single-digit operating margin," said President and CEO Mike Odell. "Our knowledgeable and enthusiastic associates and compelling tire, service and DIY offerings are delivering increases in comparable store sales and customer counts, while our disciplined spending ensures that those sales translate into improved profitability." At last check Pep Boys' stock was trading up 2.3% from the close at $13.26.