Pep Boys ó Manny, Moe & Jack (NYSE:PBY) shares were lower after the company announced a loss due to increased costs and lower sales.
The company lost $6.8 million, or 13 cents per share, versus earning $7 million, or 13 cents per share, in the same quarter last year. Included in results were an $11.2 million expense for debt refinancing, as well as 8.8 million impairment charge. Revenue fell by 2.4 percent to $509.6 million. Analysts had expected a profit of 15 cents per share on revenue of $527.8 million.
Shares are lower by over 13.7 percent.
Rival AutoZone also announced results today, earning $203.5 million, or $5.41 per share.
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