New stores provided Monro Inc. with $96.2 million in sales during fiscal year 2018, and they helped the company record a 10% increase in sales for the period that ended March 31, 2018.
Monro Inc. has acquired 99-year-old Free Service Tire Co., adding an expected $47 million in annual sales to its balance sheet.
Monro Inc. will release its fourth quarter and fiscal 2018 results during the company's inaugural investor day on May 21, 2018.
Monro Inc. has picked Evan Naylor to oversee all aspects of its store operations as the company's chief operating officer.
Monro Inc. has hired a Procter & Gamble Co. branding veteran to serve as senior vice president of marketing and merchandising. Deborah Brundage's appointment is effective immediately.
The strategy at Monro Inc. is to keep the foot on the gas when it comes to acquisitions. And that's evident already in 2018, with the purchase of three retail stores from Valley Tire Co. Inc. in Pennsylvania, plus an agreement to complete another deal with seven stores before the end of March.
Net sales dropped 0.9% and net income fell 34% at Monro Inc. for the three-month period ending Dec. 23, 2017. Lower same-store sales were to blame for the decreases.
Brett Ponton, the new CEO and president of Monro Inc., acknowledges store traffic “has been a challenge” in recent years, but he believes there is “real potential to strengthen our in-store execution, and by doing so, drive traffic back into our stores.”
Tire sales at Monro Inc. were down 2% during the second quarter of the company’s 2018 fiscal year, but acquisitions and new stores helped the nation’s third-largest tire dealer increase overall sales to $278 million.
Monro Muffler Brake Inc. is changing its name.
We now know the target of one of Monro Muffler Brake Inc.’s latest acquisition deals — Speedy Auto Service and Tire Centers Inc. in Michigan.
Monro Muffler Brake Inc. exceeded $1 billion in sales during its 2017 fiscal year, ended March 25, 2017. Overall sales increased, but Monro's comparable store sales dropped 4.3% for the year.
Monro Muffler Brake Inc. has entered into an agreement to purchase all assets of Clark Tire & Auto Inc., based in Hickory, N.C. The deal includes 24 retail stores, two commercial stores, a retread plant, and four wholesale locations.