Pep Boys to close 33 stores, cut 700 jobs

Newswire

CHICAGO, July 31 (Reuters) - Auto parts retailer Pep Boys - Manny, Moe & Jack said on Thursday it will close 33 stores, cut 700 jobs and streamline its management structure in order to boost profits. The company said the moves, aimed at saving about $11 million annually, will result in a second-quarter pre-tax charge of about $85 million.

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