Pep Boys 2006 Annual Report Download - page 48
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10
occurrences of negative publicity associated with the Pep Boys brand, the products we sell or installation or
repairs performed in our service bays, whether or not factually accurate, could cause consumers to lose
confidence in our products and services in the short or long term, and cause them to choose our
competitors for their automotive service needs.
Vehicle miles driven may decrease, resulting in a decline of our revenues and negatively affecting our results
of operations.
Our industry depends on the number of vehicle miles driven. Factors that may cause the number of
vehicle miles and our revenues and our results of operations to decrease include:
•the weather—as vehicle maintenance may be deferred during periods of inclement weather;
•the economy—as during periods of poor economic conditions, customers may defer vehicle
maintenance or repair, and during periods of good economic conditions, consumers may opt to
purchase new vehicles rather than service the vehicles they currently own and replace worn or
damaged parts;
•gas prices—as increases in gas prices may deter consumers from using their vehicles; and
•travel patterns—as changes in travel patterns may cause consumers to rely more heavily on train
and airplane transportation.
ITEM 1B UNRESOLVED STAFF COMMENTS
None.
ITEM 2 PROPERTIES
The Company owns its five-story, approximately 300,000 square foot corporate headquarters in
Philadelphia, Pennsylvania. The Company also owns the following administrative regional offices—
approximately 4,000 square feet of space in each of Melrose Park, Illinois and Bayamon, Puerto Rico. In
addition, the Company leases approximately 4,000 square feet of space for administrative regional offices
in each of Decatur, Georgia and Richardson, Texas. The Company owns a three-story, approximately
60,000 square foot structure in Los Angeles, California in which it occupies 7,200 square feet and sublets
the remaining square footage to tenants.
Of the 593 store locations operated by the Company at February 3, 2007, 324 are owned and 269 are
leased.