8-K

                           UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, D.C. 20549
                  ----------------------------------

                              FORM 8-K
                           Current Report


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                      Date of Report: July 31, 2003
              Date of Earliest Event Reported: July 31, 2003


                     The Pep Boys - Manny, Moe & Jack
         ------------------------------------------------------
         (Exact name of registrant as specified in its charter)

            Pennsylvania               1-3381               23-0962915
   -------------------------------   -----------   ---------------------------
   (State or other jurisdiction of   (Commission   (I.R.S. Employer ID number)
    incorporation or organization)    File No.)


      3111 W. Allegheny Ave. Philadelphia, PA           19132
      ----------------------------------------        ----------
      (Address of principal executive offices)        (Zip code)

                                 215-430-9000
            ----------------------------------------------------
            (Registrant's telephone number, including area code)

                                 Not Applicable
                                 --------------
          (Former name or former address, if changed from last report)



Item 5.   Other Events


The Company announced today a corporate restructuring, including 33 store
closings (approximately 5% of 629 stores), resulting in a reduction of
approximately 700 store employees (approximately 3% of total employees),
and a streamlining of the management structure throughout the company,
resulting in the reduction of approximately 160 corporate employees.

The Company's press release announcing this restructuring is attached hereto as
Exhibit 99.1



Item 7.    Financial Statements, Pro Forma Financial Information and Exhibits

(c) Exhibits. The following exhibits are filed with this report.

Exhibit No. 99.1                Press Release







                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                           THE PEP BOYS - MANNY, MOE & JACK


                           By: /s/ George Babich, Jr.
                               --------------------------------------
                               George Babich, Jr.
                               President
                               and Chief Financial Officer


Date:  July 31, 2003

EX-99

Exhibit 99.1

Press Release

Pep Boys Continues Profitability Drive with Corporate Restructuring

- -- Strategic Infrastructure and Merchandising Investments, Coupled with Store
Closings and Workforce Reduction, Position Pep Boys for Continued
Profitability and Growth --


PHILADELPHIA - July 31, 2003 - The Pep Boys - Manny, Moe & Jack (NYSE: "PBY"),
the nation's leading automotive aftermarket and service chain, today announced
several initiatives, including a corporate restructuring aimed at realigning
its business and continuing to improve upon the company's profitability.  The
restructuring includes 33 store closings (approximately 5% of 629 stores),
resulting in a reduction of approximately 700 store employees (approximately
3% of total employees), and a streamlining of the management structure
throughout the company, resulting in the reduction of approximately 160
corporate employees.  This action, coupled with the company's significant
investment this year in merchandising, CRM systems and other store
enhancements, are part of Pep Boys' continued plan to drive profitability in
the near term and build a solid foundation for long-term growth.

The Company believes today's actions will result in a pre-tax annual operating
expense reduction of approximately $11 million.  The Company also expects to
record a pre-tax charge to earnings of approximately $85 million for its second
quarter.  The charge to earnings is expected to include a $60 million write
down of fixed assets and inventory and $10 million in store closure and
severance costs related to today's actions, as well as, a $15 million charge
for certain unrelated legal and financing costs and asset impairments.

Today's announcement, which builds on the company's reorganization and profit
enhancement plan launched in October 2000, is the first significant initiative
under the leadership of new Chief Executive Officer Lawrence Stevenson.
Appointed in May of this year, Mr. Stevenson envisions a flatter organization,
one that will ultimately be more responsive to, and benefit Pep Boys'
customers.

"Since joining the company, I have met with hundreds of employees and
customers, while also speaking with shareholders and evaluating competitive
store offerings," said Mr. Stevenson.  "While Pep Boys continues to enjoy
competitive advantages, we recognize that in order to drive profitability and
realize our true growth potential, we need to streamline our operations and
continue the restructuring we began nearly three years ago."

- -more-



Store Closings and Workforce Reduction

The workforce reduction affected approximately 700 store employees (net of
approximately 200 store employees that are expected to be reassigned) and
160 corporate employees.  Following the restructuring, Pep Boys will operate
596 stores in 36 states and Puerto Rico, and employ over 22,000.

"Closing stores and eliminating positions are decisions that the company
does not take lightly," Mr. Stevenson added.  "However, in our analysis, we
recognized that underperforming stores and multiple organizational layers
create inefficiency and exhaust a disproportionate amount of time and
resources.  In addition, we realized that resources could be better spent
by investing in growth stores and markets."

The following is a complete list of stores (by state) that have been closed:

ARIZONA          1      Camelback (Phoenix)
CALIFORNIA      11      El Cerrito; Fairfield; Fremont; Greenback
                        (Citrus Heights); La Verne; Napa; Pittsburg;
                        South Chula Vista; Vacaville; Van Nuys; and Yuba City
FLORIDA          4      Clearwater; Lauderdale Lakes (Lauderdale); Melbourne;
                        and Tyrone Blvd.(St. Petersburg)
GEORGIA          1      Decatur
ILLINOIS         1      Des Plaines
MASSACHUSETTS    1      Worchester West
NEW JERSEY       1      Watchung
NEW YORK         2      East Meadow; and South Huntington (Huntington Station)
NORTH CAROLINA   1      Freedom Drive (Charlotte)
OHIO             1      Colerain (Cincinnati)
PENNSYLVANIA     3      Selinsgrove; Upper Darby; and Williamsport (Loyalsock)
TEXAS            5      Commerce (San Antonio); Dairy Ashford (Houston);
                        East Lancaster (Fort Worth); Mesa (El Paso); and
                        West Oaks Mall (Houston)
VIRGINIA         1      Harrisonburg

About Pep Boys:
Pep Boys has 596 stores and over 6000 service bays in 36 states and Puerto
Rico. Along with its vehicle repair and maintenance capabilities, the company
also serves the commercial auto parts delivery market and is one of the leading
sellers of replacement tires in the United States. Customers can find the
nearest location by calling 1-800-PEP-BOYS or by visiting pepboys.com.
###

Certain statements contained herein constitute "forward-looking statements"
within the meaning of The Private Securities Litigation Reform Act of 1995.
The word "guidance," "expect," "anticipate," "estimates," "forecasts" and
similar expressions are intended to identify such forward-looking statements.
Forward-looking statements include management's expectations regarding future
financial performance, automotive aftermarket trends, levels of competition,
business development activities, future capital expenditures, financing
sources and availability and the effects of regulation and litigation.
Although the Company believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it can give
no assurance that its expectations will be achieved.  The Company's actual
results may differ materially from the results discussed in the
forward-looking statements due to factors beyond the control of the Company,
including the strength of the national and regional economies, retail and
commercial consumers' ability to spend, the health of the various sectors of
the automotive aftermarket, the weather in geographical regions with a high
concentration of the Company's stores, competitive pricing, the location and
number of competitors' stores, product and labor costs and the additional
factors described in the Company's filings with the SEC.  The Company assumes
no obligation to update or supplement forward-looking statements that become
untrue because of subsequent events.

Pep Boys
3111 West Allegheny Avenue
Philadelphia, PA  19132
Internet:http://www.pepboys.com