UPDATE 1-Pep Boys Q3 tops Wall Street view, shares rise

Mon Dec 6, 2010 5:22pm EST

* Q3 EPS $0.11 vs est $0.08

* Q3 rev $496.4 mln vs est $488.7 mln

* Shares rise 7 pt after market

Dec 6 (Reuters) - Pep Boys - Manny, Moe & Jack (PBY.N), an automotive aftermarket service and retail chain, posted better-than-expected quarterly results, helped by a rise in same-store sales growth, sending its shares up 7 percent after market.

For the August-October quarter, the Philadelphia-based Pep Boys reported net income of $5.7 million, or 11 cents a share, compared with $2.1 million, or 4 cents a share, a year ago.

Revenue at the company, which competes with Monro Muffler Brake Inc (MNRO.O) and Midas Inc MDS.N, rose 5 percent to $496.4 million. Same-store sales rose 3.5 percent.

Analysts on average were expecting the company to earn 8 cents a share, before special items, on revenue of $488.7 million, according to Thomson Reuters I/B/E/S.

The company, which has a market value of about $662.9 million, said it remained on target to open 35 new locations this year. Pep Boys, which serves the commercial auto parts delivery market, has more than 6,100 service bays within over 600 stores located in 35 states and Puerto Rico.

Shares of Pep Boys closed at $12.96 Monday on the New York Stock Exchange. Shares of the company, which have gained 65 percent in value since touching a year-low of $7.86 in July, were trading up 7 percent after market at $13.91. (Reporting by Fareha Khan in Bangalore; Editing by Don Sebastian)

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