Pep Boys Gets Car Dealership Proposal
Pep Boys has received a proposal from an automobile maker based outside the United States interested in selling new cars at some of the auto parts retailer’s stores, a spokesman said. The proposal would be to sell new cars at about 160 Pep Boys stores, said Bill Furtkevic, spokesman for the Philadelphia-based retailer. He declined to say from whom the proposal came. Pep Boys also is in talks with AutoNation USA, the used-car unit of Chicago-based Republic Industries Inc., about providing parts to the rapidly expanding chain of superstore dealerships. Pep Boys operates 561 stores in 33 states. Shares rose 62.5 cents to close at $29.875 on the NYSE.
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