Pep Boys drove through the first quarter in style, reporting its fifth-consecutive quarter of earnings growth.
When Pep Boys went public in 1946, Rosenfeld served as its first corporate president.
Pep Boys, which has more than 700 stores, has faced competition from companies including AutoZone Inc.
Auto parts retailer and service provider Pep Boys (PBY) posted third quarter earnings late yesterday.
Once the acquisition is complete, Pep Boys stock will no longer trade on the New York Stock Exchange.
Pep Boys has more than 6, 000 service bays within over 590 stores located in 35 states and Puerto Rico.
Last month Pep Boys reported that its fiscal-third-quarter net income rose nearly 23% on stronger tire sales and improving service sales.
The auto-parts company began in 1921 with Naval buddies and original Pep Boys Emanuel "Manny" Rosenfeld, Maurice "Moe" Strauss, Moe Radavitz and Graham "Jack" Jackson.
You go to Home Depot or Pep Boys looking for such lubricants and you will see shelves filled with forgettable brands that Jay Leno doesn't joke about.
"We recently launched a new marketing campaign, social media efforts and an improved website to more fully communicate the breadth of automotive services, tires, parts and accessories available at Pep Boys, " Odell says.
The government alleged that Pep Boys, along with motorcycle maker Baja, had imported and sold at least 241, 000 motorcycles, recreational vehicles and generators manufactured in China that were not in compliance with environmental requirements.
That aging fleet, which has been a boon for auto repair retailers like AutoZone and Pep Boys, will need to be replaced in coming years, which bodes well for an industry that has transformed into one that can be profitable at lower sales rates.
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