Pep Boys Holds Annual Meeting
October 19 2006 - 9:30AM
Business Wire
The Pep Boys � Manny, Moe & Jack (NYSE:PBY), the nation's
leading automotive aftermarket retail and service chain, today held
its Annual Meeting of Shareholders in Philadelphia. At the Annual
Meeting, shareholders elected the full Board of Directors for a
one-year term, approved the appointment of the Company�s
independent auditors and approved a shareholder proposal requesting
that the Board redeem the Company�s current or any future
Shareholder Rights Plan, unless such plan is subject to a
shareholder vote. In addition, Interim CEO Bill Leonard discussed
the Company�s recent financial performance, debt profile and
continuing efforts to improve performance for the benefit of all
shareholders. The presentation slides from the Annual Meeting are
available on the Company�s Web site at pepboys.com. Pep Boys has
593 stores and more than 6,000 service bays in 36 states and Puerto
Rico. Along with its vehicle repair and maintenance capabilities,
the Company also serves the commercial auto parts delivery market
and is one of the leading sellers of replacement tires in the
United States. Customers can find the nearest location by calling
1-800-PEP-BOYS or by visiting pepboys.com. Certain statements
contained herein constitute "forward-looking statements" within the
meaning of The Private Securities Litigation Reform Act of 1995.
The word "guidance," "expect," "anticipate," "estimates,"
"forecasts" and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements include
management's expectations regarding future financial performance,
automotive aftermarket trends, levels of competition, business
development activities, future capital expenditures, financing
sources and availability and the effects of regulation and
litigation. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its
expectations will be achieved. The Company's actual results may
differ materially from the results discussed in the forward-looking
statements due to factors beyond the control of the Company,
including the strength of the national and regional economies,
retail and commercial consumers' ability to spend, the health of
the various sectors of the automotive aftermarket, the weather in
geographical regions with a high concentration of the Company's
stores, competitive pricing, the location and number of
competitors' stores, product and labor costs and the additional
factors described in the Company's filings with the SEC. The
Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events. The Pep Boys - Manny, Moe & Jack (NYSE:PBY), the
nation's leading automotive aftermarket retail and service chain,
today held its Annual Meeting of Shareholders in Philadelphia. At
the Annual Meeting, shareholders elected the full Board of
Directors for a one-year term, approved the appointment of the
Company's independent auditors and approved a shareholder proposal
requesting that the Board redeem the Company's current or any
future Shareholder Rights Plan, unless such plan is subject to a
shareholder vote. In addition, Interim CEO Bill Leonard discussed
the Company's recent financial performance, debt profile and
continuing efforts to improve performance for the benefit of all
shareholders. The presentation slides from the Annual Meeting are
available on the Company's Web site at pepboys.com. Pep Boys has
593 stores and more than 6,000 service bays in 36 states and Puerto
Rico. Along with its vehicle repair and maintenance capabilities,
the Company also serves the commercial auto parts delivery market
and is one of the leading sellers of replacement tires in the
United States. Customers can find the nearest location by calling
1-800-PEP-BOYS or by visiting pepboys.com. Certain statements
contained herein constitute "forward-looking statements" within the
meaning of The Private Securities Litigation Reform Act of 1995.
The word "guidance," "expect," "anticipate," "estimates,"
"forecasts" and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements include
management's expectations regarding future financial performance,
automotive aftermarket trends, levels of competition, business
development activities, future capital expenditures, financing
sources and availability and the effects of regulation and
litigation. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its
expectations will be achieved. The Company's actual results may
differ materially from the results discussed in the forward-looking
statements due to factors beyond the control of the Company,
including the strength of the national and regional economies,
retail and commercial consumers' ability to spend, the health of
the various sectors of the automotive aftermarket, the weather in
geographical regions with a high concentration of the Company's
stores, competitive pricing, the location and number of
competitors' stores, product and labor costs and the additional
factors described in the Company's filings with the SEC. The
Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events.
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