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PEP BOYS ANNOUNCES RECORD FIRST QUARTER SALES

 PHILADELPHIA, May 6 /PRNewswire/ -- Pep Boys -- Manny, Moe & Jack (NYSE: PBY), the nation's leading automotive aftermarket retail chain, today announced that sales for the 13 weeks ended May 1, 1993, were a record $299,147,000, a 9 percent increase over the $275,563,000 that was recorded last year.
 Comparable store sales increased 3 percent during the first quarter.
 Store Expansion Program
 Three warehouse format automotive supercenters, which are approximately 23,000 square feet and feature 10 service bays, were opened during the first quarter. On April 17, Pep Boys made its entry into Seekonk, Mass., the company's first store in New England. On April 23, the company opened its third unit in Ft. Lauderdale, Fla., and a new store in Temecula, Calif., was opened on April 30. An outmoded, non-service store in Los Angeles was closed on April 3.
 Pep Boys, which operates 359 stores in 21 states, anticipates opening as many as 37 additional units during the balance of the fiscal year.
 Commentary
 Pep Boys CEO Mitchell G. Leibovitz made the following comments:
 "Although we achieved record first quarter sales, we were disappointed with our comparable store sales increase of 3 percent. In addition to a challenging prior year comparison of 13 percent, poor weather conditions throughout much of the quarter had a negative impact on business.
 "On a positive note, we continue to be extremely pleased with the performance of our new units, many of which are achieving unprecedented sales levels for first-year stores."
 /delval/
 -0- 5/6/93
 /CONTACT: Michael J. Holden, senior vp-finance and treasurer of Pep Boys, 215-227-9202/
 (PBY)


CO: Pep Boys -- Manny, Moe & Jack ST: Pennsylvania IN: REA SU: ERN

MJ-MK -- PH001 -- 5176 05/06/93 07:34 EDT
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Publication:PR Newswire
Date:May 6, 1993
Words:287
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