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Pep Boys posts 4Q profits for only Manny, Moe

“The fourth quarter was a time of transition for the company,” said interim Chief Executive John Sweetwood. “Our investments in the high-growth areas of our business–commercial, tires, fleet and digital–increased revenue, but temporarily depressed margins.”(NYSE: PBY)

According to MarketWatch “For the three months ended Jan. 31, Pep Boys booked a loss of $26.7 million, or 50 cents a share, versus a loss of $3.33 million, or six cents a share, a year earlier. The latest results included a net charge of $12.4 million for write-downs and severance expenses, among other things.Revenue rose 1.3% to $502.4 million. Comparable-store sales rose 1.3%, driven by a 5.1% increase in service revenue.”