Pep Boys to Allow Shareholder Rights Plan to Lapse
March 20 2007 - 4:30PM
Business Wire
The Pep Boys �Manny, Moe & Jack (NYSE:PBY), the nation's
leading automotive aftermarket retail and service chain, announced
that its Board of Directors has determined to allow the Company�s
Shareholder Rights Plan to expire, in accordance with its terms, on
December 31, 2007. 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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