Pep Boys 2014 Annual Report Download

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2014 ANNUAL REPORT

Table of contents

  • Page 1
    2 0 1 4 AN N UAL RE P O RT

  • Page 2

  • Page 3
    ..., Philadelphia, PA (Address of principal executive office) 23-0962915 (I.R.S. employer identification no.) 19132 (Zip code) 215-430-9000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on...

  • Page 4

  • Page 5
    ... ...Directors, Executive Officers and Corporate Governance ...Executive Compensation ...Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ...Certain Relationships and Related Transactions and Director Independence ...Principal Accounting Fees and Services...

  • Page 6
    (This page has been left blank intentionally.)

  • Page 7
    ... labor, installed merchandise and tire offerings (''DIFM'') with do-it-yourself parts and accessories (''DIY''). Most of our Supercenters also have a commercial sales program that provides prompt delivery of parts, tires and equipment to automotive repair shops and dealers. Service & Tire Centers...

  • Page 8
    ... ...Delaware ...Florida ...Georgia ...Illinois ...Indiana ...Kentucky ...Louisiana ...Maine ...Maryland ...Massachusetts . . Michigan ...Minnesota ...Missouri ...Nevada ...New Hampshire New Jersey ...New Mexico ...New York ...North Carolina . Ohio ...Oklahoma ...Pennsylvania ...Puerto Rico ...Rhode...

  • Page 9
    ...vendors) for in store or home delivery. We have also partnered with third party on line marketplaces where customers can buy product and make service appointments at our locations. As a whole, our digital business represented 6% of sales in the fourth quarter of fiscal 2014 and grew by 43% on a year...

  • Page 10
    ... to use our retail business to drive the service business with free professional battery and wiper installations. To date, we have converted 28 Supercenters in five markets and opened two new Supercenters in the Road Ahead format. We have also opened 56 new Service & Tire Centers in this format. As...

  • Page 11
    ... maintenance and repair services (except body work) and installs tires, parts and accessories. Each Pep Boys Supercenter carries a similar product line, with variations based on the number and type of cars in the market where the store is located. A Pep Boys Service & Tire Center carries tires and...

  • Page 12
    ... our customers and our brand. STORE OPERATIONS AND MANAGEMENT Most Pep Boys stores are open seven days a week. Our Supercenters either have a General Manager or a Retail Manager and Service Manager (Service & Tire Centers only have a Service Manager) who report to geographic-specific Area Directors...

  • Page 13
    ...from distribution centers multiple times per week. As of January 31, 2015, we operated 58 Superhubs within existing Supercenters. These Superhubs will provide approximately 475 of our stores with an expanded auto parts assortment. We also maintain one free standing tire warehouse in the Philadelphia...

  • Page 14
    ... weather in geographical regions with a high concentration of our stores, competitive pricing, the location and number of competitors' stores, product and labor costs and the additional factors described in our filings with the Securities and Exchange Commission (''SEC''). See ''Item 1A Risk Factors...

  • Page 15
    ... since September 2012 Senior Vice President-Store Operations since March 2013 Senior Vice President-Chief Customer Officer since August 2012 Senior Vice President-Business Development since November 2007 Senior Vice President-Chief Human Resources Officer since August 2013 Senior Vice President...

  • Page 16
    ... as a staff attorney in 1999. Prior to joining Pep Boys, Mr. Zuckerman practiced corporate and securities law with two firms in Philadelphia. Each of the executive officers serves at the pleasure of the Board of Directors of the Company. ITEM 1A RISK FACTORS discloses all known material risks that...

  • Page 17
    ... the price of our stock and the future profitability of our business might have a negative impact on the carrying value of our goodwill. Our reporting units have experienced challenging economic, industry and operating pressures, and if these pressures were to continue for a sustained period of time...

  • Page 18
    ... and use in our service bays, the recycling of batteries, tires and used lubricants, the ownership and operation of real property and the sale of small engine merchandise. When we acquire or dispose of real property or enter into financings secured by real property, we undertake investigations that...

  • Page 19
    ... as generators, power tools and canopies; and • online retailers Commercial • mass and on-line merchandisers, wholesalers and jobbers (some of which are associated with national parts distributors or associations). Service Do-It-For-Me • regional and local full service automotive repair shops...

  • Page 20
    ... (such as oil change, brake and transmission) repair facilities that provide additional automotive repair and maintenance services. Tires • national and regional (including franchised) tire retailers; and • mass merchandisers and wholesale clubs that sell tires. A number of our competitors...

  • Page 21
    ...4,000 square feet of space in each of Melrose Park, Illinois and Bayamon, Puerto Rico. The Company leases an administrative regional office of approximately 3,500 square feet in Los Angeles, California. Of the 806 store locations operated by the Company at January 31, 2015, 226 are owned and 580 are...

  • Page 22
    ... of 2,000,000 shares of Pep Boys' Common Stock. Eligible employees can elect to have up to 10 percent of compensation deducted for purchase of Company stock at a discount under the Plan. For fiscal 2014, 2013, and 2012, respectively, the total number of shares sold to employees was 73,058; 62,547...

  • Page 23
    ...Center, Inc.; Tractor Supply Co.; West Marine, Inc. Comparison of Cumulative Five Year Total Return $400 $300 $200 $100 $0 FY 2009 Pep Boys FY 2010 FY 2011 FY 2012 Peer Group FY 2013 FY 2014 S&P SmallCap 600 Index S&P 600 Automotive Retail Index 8APR201500085779 Jan. 2014 Jan. 2015 Company...

  • Page 24
    ... share price range: High ...Low ...OTHER STATISTICS Return on average stockholders' equity(11) ...Common shares issued and outstanding ...Capital expenditures ...Number of stores ...Number of service bays ...(1) (2) (3) Jan. 31, 2015 Feb. 1, 2014 Feb. 2, 2013 Jan. 28, 2012 Jan. 29, 2011 (52 weeks...

  • Page 25
    ... labor, installed merchandise and tire offerings (''DIFM'') with do-it-yourself parts and accessories (''DIY''). Most of our Supercenters also have a commercial sales program that provides prompt delivery of parts, tires and equipment to automotive repair shops and dealers. Service & Tire Centers...

  • Page 26
    ...few years, we have invested in our business to drive top line sales with investments in marketing & promotions, new stores (Service & Tire Centers), digital operations and, most recently, a new market concept that we call the ''Road Ahead.'' Designed around the shopping habits of our target customer...

  • Page 27
    ... 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...

  • Page 28
    ... fiscal 2013. In accordance with GAAP, service revenue is limited to labor sales (excludes any revenue from installed parts and materials) and costs of service revenues includes the fully loaded service center payroll and related employee benefits and service center occupancy costs (rents, utilities...

  • Page 29
    ... in fiscal 2013. The increase in service revenue gross margin was primarily due to the leveraging effect of higher sales on the fixed component of payroll and related costs. Selling, general and administrative expenses as a percentage of total revenues increased to 23.2% for fiscal year 2014 from 22...

  • Page 30
    ... fiscal 2012. In accordance with GAAP, service revenue is limited to labor sales (excludes any revenue from installed parts and materials) and costs of service revenues includes the fully loaded service center payroll and related employee benefits and service center occupancy costs (rents, utilities...

  • Page 31
    ... operate in the U.S. automotive aftermarket, which has two general lines of business: (1) the Service business, defined as Do-It-For-Me (service labor, installed merchandise and tires) and (2) the Retail business, defined as Do-It-Yourself (retail merchandise) and commercial. Generally, specialized...

  • Page 32
    ... (3) Gross profit from service center revenue includes the cost of installed products sold, buying, warehousing, 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...

  • Page 33
    ... new locations, the conversion of 11 Supercenters into Superhubs, the addition of 63 Speed Shops within existing Supercenters. In addition, in the third quarter of 2013 the Company acquired 18 Service & Tire Centers in Southern California for $10.7 million. In the fourth quarter of 2014, the Company...

  • Page 34
    ... settlements for our recorded deferred compensation plan obligation, asset retirement obligation costs and income tax liabilities because we cannot make a reliable estimate of the timing of the related cash payments. Commercial Commitments Total Within From 1 to 3 From 3 to 5 1 year years years...

  • Page 35
    ...settlement payment are presented within cash flows from operations on the consolidated statement of cash flows. On November 12, 2013, the Company entered into the First Amendment to the Second Amended and Restated Credit Agreement. The First Amendment reduced the interest rate payable by the Company...

  • Page 36
    ... not make any contributions to the Account Plan in fiscal 2014 and our contribution expense for fiscal 2013 and 2012 was $0.8 million and $0.1 million, respectively. We have a qualified 401(k) savings plan and a separate savings plan for employees residing in Puerto Rico, which cover all full-time...

  • Page 37
    ... the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to customer incentives, product returns and warranty obligations, bad debts, inventories, income taxes, financing operations, retirement benefits, share-based compensation, risk...

  • Page 38
    ... the Consolidated Financial Statements for assessment and testing). • We periodically evaluate our long-lived assets for indicators of impairment. Management's judgments, including judgments related to store cash flows, are based on market and operating conditions at the time of evaluation. Future...

  • Page 39
    ... entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective retrospectively for annual or interim reporting periods beginning after December 15, 2016, with early adoption not permitted. The Company is currently evaluating the new standard, but does not expect the...

  • Page 40
    ... fiscal 2014. The risks related to changes in the LIBOR rate are substantially mitigated by our interest rate swap. The fair value of our long-term debt including current maturities was $211.0 million at January 31, 2015. We determine fair value on our fixed rate debt by using quoted market prices...

  • Page 41
    ... ACCOUNTING FIRM To the Board of Directors and Stockholders of The Pep Boys-Manny, Moe & Jack Philadelphia, Pennsylvania We have audited the accompanying consolidated balance sheets of The Pep Boys-Manny, Moe & Jack and subsidiaries (the ''Company'') as of January 31, 2015 and February 1, 2014...

  • Page 42
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (dollar amounts in thousands, except share data) January 31, 2015 February 1, 2014 ASSETS Current assets: Cash and cash equivalents ...Accounts receivable, less allowance for $1,320 ...Merchandise inventories ...Prepaid ...

  • Page 43
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (dollar amounts in thousands, except per share data) January 31, 2015 (52 weeks) February 1, 2014 (52 weeks) February 2, 2013 (53 weeks) Year ended Merchandise sales ...Service ...

  • Page 44
    ... 1,359 8,224 Balance, February 2, 2013 ...68,557,041 $68,557 Comprehensive income: Net earnings ...Fair market value adjustment on derivatives, net of tax of $814 ...Total comprehensive income ...Effect of stock options and related tax benefits ...Effect of employee stock purchase plan . Effect of...

  • Page 45
    ... activities ...Cash flows from financing activities: Borrowings under line of credit agreements . . Payments under line of credit agreements ...Borrowings on trade payable program liability . Payments on trade payable program liability . . Payments for finance issuance costs ...Borrowings under new...

  • Page 46
    ... & Tire Centers are designed to capture market share and leverage the existing Supercenter and support infrastructure. The Company currently operates stores in 35 states and Puerto Rico. FISCAL YEAR END The Company's fiscal year ends on the Saturday nearest to January 31. Fiscal 2014 and Fiscal 2013...

  • Page 47
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) method of costing inventory had been used by the Company, ...

  • Page 48
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) LEASES The Company amortizes leasehold improvements over the ...

  • Page 49
    ... and store occupancy costs. Costs of service revenue include service center payroll and related employee benefits, service center occupancy costs and cost of providing free or discounted towing services to customers. Occupancy costs include utilities, rents, real estate and property taxes, repairs...

  • Page 50
    ... POLICIES (Continued) incremental expenses. Vendor support funds used to offset direct advertising costs were immaterial for fiscal years 2014, 2013, and 2012. WARRANTY RESERVE The Company provides warranties for both its merchandise sales and service labor. Warranties for merchandise are generally...

  • Page 51
    ... 1, 2014 and February 2, 2013 NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) ACCOUNTING FOR STOCK-BASED COMPENSATION At January 31, 2015, the Company has two stock-based employee compensation plans, which are described in Note 15, ''Equity Compensation Plans.'' Compensation costs...

  • Page 52
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) RECLASSIFICATION Certain prior period amounts have been ...

  • Page 53
    ... to purchase 18 Service & Tire Centers located in Southern California from AKH Company, Inc., which had operated under the name Discount Tire Centers. This acquisition was financed using cash on hand. Collectively, the acquired stores produced approximately $26.1 million in sales annually based on...

  • Page 54
    ... Loan from October 27, 2013 to October 11, 2018, (iii) reset the interest rate under the Term Loan to the London Interbank Offered Rate (LIBOR), subject to a floor of 1.25%, plus 3.75% and (iv) added an additional 16 of the Company's owned locations to the collateral pool securing the Term Loan. The...

  • Page 55
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 5-DEBT AND FINANCING ARRANGEMENTS (Continued) On October 11, 2012, the Company entered into two new interest rate swaps for...

  • Page 56
    ... as of January 31, 2015 and February 1, 2014, respectively. The surety bonds guarantee certain payments (for example utilities, easement repairs, licensing requirements and customs fees). The annual maturities of long-term debt, for the next five fiscal years are: (dollar amounts in thousands) Long...

  • Page 57
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 6-LEASE AND OTHER COMMITMENTS (Continued) deferred gain for all sale leaseback transactions is being recognized as a ...

  • Page 58
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 8-INCOME TAXES (Continued) The provision for income tax (benefit) expense includes the following: January 31, 2015 Year ...

  • Page 59
    ... 2, 2013 NOTE 8-INCOME TAXES (Continued) Items that gave rise to the deferred tax accounts are as follows: (dollar amounts in thousands) January 31, 2015 February 1, 2014 Deferred tax assets: Employee compensation ...Store closing reserves ...Legal reserve ...Benefit accruals ...Net operating loss...

  • Page 60
    ... fiscal year 2014, the Company recorded a $2.1 million gross valuation allowance primarily on state net operating loss carryforwards. In fiscal year 2013, the Company recorded a benefit for gross state hiring credits of approximately $6.3 million that were impacted by a state tax law change enacted...

  • Page 61
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 8-INCOME TAXES (Continued) Company's annual effective tax rate. The Company does not anticipate material changes to its ...

  • Page 62
    ... 1, 2014 and February 2, 2013, respectively. A store is classified as held for disposal when (i) the Company has committed to a plan to sell, (ii) the building is vacant and the property is available for sale, (iii) the Company is actively marketing the property for sale, (iv) the sale price is...

  • Page 63
    ...PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 11-STORE CLOSURES AND ASSET IMPAIRMENTS (Continued) The following schedule details activity in the reserve for closed locations...

  • Page 64
    ... five years. In general, our reporting units' fair values are most sensitive to our sales growth and operating profit rate assumptions, which represent estimates based on our current and projected sales mix, profit improvement opportunities and market conditions. If the business climate deteriorates...

  • Page 65
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 13-EARNINGS PER SHARE The following schedule presents the calculation of basic and diluted earnings per share for earnings ...

  • Page 66
    ... credit method.'' Variances between actual experience and assumptions for costs and returns on assets were amortized over the remaining service lives of employees under the Plan. Pension expense is as follows: Year ended February 2, 2013 (dollar amounts in thousands) Service cost ...Interest cost...

  • Page 67
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 14-BENEFIT PLANS (Continued) match in the Company's stock are issued from its treasury account. On January 31, 2014, the ...

  • Page 68
    ...PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 15-EQUITY COMPENSATION PLANS (Continued) The following table summarizes the options under the Stock Incentive Plan: Fiscal Year...

  • Page 69
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 15-EQUITY COMPENSATION PLANS (Continued) The following table summarizes information about PSUs and RSUs, in the aggregate, ...

  • Page 70
    ... for fiscal 2014, 2013 and 2012 are immaterial. During fiscal 2011, the Company began an employee stock purchase plan which provides eligible employees the opportunity to purchase shares of the Company's stock at a stated discount through regular payroll deductions. The aggregate number of shares...

  • Page 71
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 16-INTEREST RATE SWAP AGREEMENT (Continued) subsequent to the previous interest rate swap's settlement, on October 11, 2012...

  • Page 72
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 17-FAIR VALUE MEASUREMENTS (Continued) value. As a result, the Company has determined that its cash equivalents in their ...

  • Page 73
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 17-FAIR VALUE MEASUREMENTS (Continued) Fair Value at February 1, 2014 Fair Value Measurements Using Inputs Considered as ...

  • Page 74
    THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) Years ended January 31, 2015, February 1, 2014 and February 2, 2013 NOTE 19-QUARTERLY FINANCIAL DATA (UNAUDITED) (Loss) / Earnings Per (Loss) / Share from (Loss) / Earnings Continuing Earnings Per...

  • Page 75
    ... assurance that the information required to be disclosed by the Company in reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and is accumulated and communicated to management, including our principal...

  • Page 76
    ... established in Internal Control-Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this assessment, management determined that the Company's internal control over financial reporting as of January 31, 2015 was effective...

  • Page 77
    ...OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of The Pep Boys-Manny, Moe & Jack Philadelphia, Pennsylvania We have audited the internal control over financial reporting of The Pep Boys-Manny, Moe & Jack and subsidiaries (the ''Company'') as of January 31...

  • Page 78
    ... Relations-Corporate Governance'' section of our website. As required by the New York Stock Exchange (''NYSE''), promptly following our 2014 Annual Meeting, our Chief Executive Officer certified to the NYSE that he was not aware of any violation by Pep Boys of NYSE corporate governance listing...

  • Page 79
    ... financial statements of The Pep Boys-Manny, Moe & Jack are included in Item 8 Report of Independent Registered Public Accounting Firm ...Consolidated Balance Sheets-January 31, 2015 and February 1, 2014 ...Consolidated Statements of Operations and Comprehensive Income-Years ended January 31, 2015...

  • Page 80
    ...Boys Savings Plan-Puerto Rico Amendment 2014-2 to The Pep Boys Savings Plan-Puerto Rico The Pep Boys Deferred Compensation Plan, as amended and restated The Pep Boys Annual Incentive Bonus Plan, as amended and restated Account Plan, as amended and restated Incorporated by reference from the Company...

  • Page 81
    ... to Second Amended and Restated Credit Agreement, dated November 12, 2013, among the Company, Wachovia Bank, National Association, as Administrative Agent, and the other parties thereto. Subsidiaries of the Company Incorporated by reference from the Company's Form 10-Q for the quarter ended...

  • Page 82
    .... Dated: April 15, 2015 THE PEP BOYS-MANNY, MOE & JACK (REGISTRANT) By: /s/ DAVID R. STERN David R. Stern Executive Vice President-Chief Financial Officer (Principal Financial Officer) Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the...

  • Page 83
    Signature Capacity Date /s/ JANE SCACCETTI Jane Scaccetti Director April 15, 2015 /s/ ROBERT NARDELLI Robert Nardelli Director April 15, 2015 /s/ ANDREA M. WEISS Andrea M. Weiss Director April 15, 2015 /s/ NICK WHITE Nick White Director April 15, 2015 77

  • Page 84
    ... PURSUANT TO THE REQUIREMENTS OF FORM 10-K THE PEP BOYS-MANNY, MOE & JACK AND SUBSIDIARIES SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (dollar amounts in thousands) Column A Column B Balance at Beginning of Period Column C Additions Charged Additions Charged to Costs to Other and...

  • Page 85
    ... of The Pep Boys- Manny, Moe & Jack and subsidiaries (the ''Company'') and the effectiveness of the Company's internal control over financial reporting appearing in this Annual Report on Form 10-K of the Company for the fiscal year ended January 31, 2015. /s/ DELOITTE & TOUCHE LLP Philadelphia...

  • Page 86
    ... PURSUANT TO RULES 13a-14(a) AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, John T. Sweetwood, certify that: 1. 2. I have reviewed this Annual Report on Form 10-K of The Pep Boys-Manny, Moe & Jack; Based on...

  • Page 87
    ... RULES 13a-14(a) AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, David R. Stern, certify that: 1. 2. I have reviewed this Annual Report on Form 10-K of The Pep Boys-Manny, Moe & Jack; Based on my knowledge, this report...

  • Page 88
    ... with this Annual Report on Form 10-K of The Pep Boys-Manny, Moe & Jack (the ''Company'') for the year ended January 31, 2015, as filed with the Securities and Exchange Commission on the date hereof (the ''Report''), I, John T. Sweetwood, Principal Executive Officer of the Company, certify, pursuant...

  • Page 89
    ... with this Annual Report on Form 10-K of The Pep Boys-Manny, Moe & Jack (the ''Company'') for the year ended January 31, 2015, as filed with the Securities and Exchange Commission on the date hereof (the ''Report''), I, David R. Stern, Executive Vice President and Chief Financial Officer of the...

  • Page 90
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  • Page 91
    ... Nick White Annual Shareholder Meeting Friday, July 10, 2015 at 9:00 a.m. Pep Boys Store Support Center 3111 West Allegheny Avenue Philadelphia, Pennsylvania 19132 (215) 430-9095 President & CEO, White & Associates Director Emeritus Lester Rosenfeld NYSE Symbol: PBY Investor Relations To obtain...

  • Page 92
    3111 WEST ALLEGHENY AVENUE / PHILADELPHIA, PA 19132