Pep Boys 2008 Annual Report Download - page 88

Download and view the complete annual report

Please find page 88 of the 2008 Pep Boys annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 168

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168

Analysis of Statement of Operations
The following table presents, for the periods indicated, certain items in the consolidated statements
of operations as a percentage of total revenues (except as otherwise provided) and the percentage
change in dollar amounts of such items compared to the indicated prior period.
Percentage of Total Revenues Percentage Change
Jan 31, 2009 Feb 2, 2008 Feb 3, 2007 Fiscal 2008 vs. Fiscal 2007 vs.
Year ended (Fiscal 2008) (Fiscal 2007) (Fiscal 2006) Fiscal 2007 Fiscal 2006
Merchandise Sales ................. 81.4% 81.8% 82.6% (10.3)% (5.6)%
Service Revenue(1) ................. 18.6 18.2 17.4 (7.8) (0.6)
Total Revenues .................... 100.0 100.0 100.0 (9.8) (4.7)
Costs of Merchandise Sales(2) ......... 71.9(3) 74.6(3) 71.2(3) 13.5 (1.0)
Costs of Service Revenue(2) .......... 93.0(3) 89.0(3) 91.6(3) 3.7 (3.3)
Total Costs of Revenues ............. 75.9 77.3 74.8 11.5 (1.5)
Gross Profit from Merchandise Sales .... 28.1(3) 25.4(3) 28.8(3) (0.7) (16.8)
Gross Profit from Service Revenue ...... 7.0(3) 11.0(3) 8.4(3) (41.5) 29.1
Total Gross Profit .................. 24.1 22.7 25.2 (4.3) (14.1)
Selling, General and Administrative
Expenses ....................... 25.2 24.2 24.4 6.4 (5.1)
Net Gain from Disposition of Assets .... 0.5 0.7 0.4 (35.9) 68.9
Operating (Loss) Profit .............. (0.5) (0.8) 1.3 41.7 (158.9)
Non-operating Income ............... 0.1 0.2 0.3 (62.5) (25.3)
Interest Expense ................... 1.4 2.4 2.2 47.3 4.0
Loss from Continuing Operations Before
Income Taxes and Cumulative Effect of
Change in Accounting Principle ...... (1.8) (2.9) (0.6) 44.5 (367.9)
Income Tax Benefit ................. 17.6(4) (40.6)(4) (47.5)(4) (76.0) 300.0
Net Loss from Continuing Operations
Before Cumulative Effect of Change in
Accounting Principle .............. (1.5) (1.8) (0.3) 23.0 (429.5)
Discontinued Operations, Net of Tax .... (0.1) (0.1) 0.2 55.8 (183.1)
Cumulative Effect of Change in
Accounting Principle Net of Tax ...... — — — — NM
Net Loss ........................ (1.6) (1.9) (0.1) 25.9 (1,510.0)
(1) Service revenue consists of the labor charge for installing merchandise or maintaining or repairing
vehicles, excluding the sale of any installed parts or materials.
(2) Costs of merchandise sales include the cost of products sold, buying, warehousing and store
occupancy costs. Costs of service revenue include service center payroll and related employee
benefits and service center occupancy costs. Occupancy costs include utilities, rents, real estate and
property taxes, repairs and maintenance and depreciation and amortization expenses.
(3) As a percentage of related sales or revenue, as applicable.
(4) As a percentage of Loss from Continuing Operations Before Cumulative Effect of Change in
Accounting Principle
NM Not meaningful
24