This first quarter of 2024, changes that will allow the AutoZone chain to take over the space of its rival Pep Boys in Puerto Rico should be completed.Following a leasing agreement between the two American companies.
Sources at this newspaper, who spoke on condition of anonymity, indicated that next March, Pep Boys will leave the store location to make way for the arrival of AutoZone. However, according to the source, Pep Boys will continue to operate service ships.
Reasons for Pep Boys’ departure from the segment retailTheir store has 50% off sales on parts and accessories. However, Discount does not apply to tires, In many stores, shelves look empty, as customers have taken advantage of clearance sales and most of the inventory has been sold.
“The transformation of the retail business in Puerto Rico is the final step in Pep Boys’ transition to a business model focused primarily on automotive services”Pep Boys Chief Executive Officer (CEO) Scott Collett said in a written statement sent to El Nuevo Día.
Colette explained that the conversion gives them the opportunity to improve the locations of automotive service centers on the island, reinvest in the evolving needs of customers in the market, and provide Pep Boys employees with potential employment opportunities at AutoZone.
“We are excited to further expand our presence in Puerto Rico And we will continue to deliver on our commitment to always putting our customers first,” said Bill Rhodes, President and CEO of AutoZone. This conversion in section retail According to Rhodes, this allows each organization to “strengthen its presence in Puerto Rico and provide more solid, comprehensive and convenient, customer-centric automotive solutions to all drivers throughout the territory of Puerto Rico.”
AutoZone has more than 7,000 stores, distributed between Mexico, Brazil and the United States. Of the latter, it accounts for more than 85%, including establishments in Puerto Rico.
Parts and service area have been changed
Over the past four years, there have been some changes in the automotive parts market on the island. In 2020, Pep Boys acquired six stores from local chain Tecnicentro Mundial to add them to the chain. Meanwhile, last year, O’Reilly Auto Parts and 1-800 Radiator arrived. The first has already opened in three locations, namely: Bayamon, Hatillo and Caguas, while the second has opened in Bayamon and specializes in spare parts for air conditioners and radiators for cars.
The 1-800 radiator, which supplied the entire island, was not necessarily new to the island. It has been operating in Puerto Rico for years, but its focus – both here and in the United States – is to serve mechanics and small workshops. However, local franchisees Ibrahim “Paco” Nardone and Orlando Navarro thought that, on the island, there was a market for building a store that provided services to general customers. For this reason, he opened the establishment in Bayamon, which was the first store focused on this segment. retail of 1-800 radiators in Puerto Rico and the United States.