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.
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.
The fact that overall sales at Monro Muffler Brake Inc. increased in the first quarter of fiscal 2018 is hardly news. The company's aggressive approach to acquisitions helps it continually add to the sales column. But in the latest quarter, Monro's existing, comparable stores helped the bottom line, too. And that's news.
Monro Muffler Brake Inc. will report its first quarter fiscal 2018 earnings on July 20, 2017.
Tire sales at Monro Muffler Brake Inc.'s comparable stores fell 11% in the fourth quarter of fiscal year 2017, capping off a year of lower tire sales in those same stores.
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.
Tire sales at Monro Muffler Brake Inc.'s comparable stores increased 6% in the third quarter, ended Dec. 24, 2016. Tires were the biggest help as comparable stores recorded an overall sales increase of 2.3% during the period.
Monro Muffler Brake Inc. will release fiscal 2017 third quarter earnings on Feb. 1, 2017.
Monro Muffler Brake Inc. posted net income of $17.5 million on net sales of $248.6 million for its second quarter ended Sept. 24, 2016. That compares to income of more than $18.8 million on sales of $239.1 million for the same period last year.
Monro Muffler Brake Inc. will release fiscal 2017 second quarter earnings Oct. 20, 2016.
The board of directors of Monro Muffler Brake Inc. has declared a quarterly cash dividend of 17 cents per share.
Tire sales, as well as maintenance services, alignments, brakes, front end/shocks, and exhaust jobs were all down at Monro Muffler Brake Inc.'s comparable stores during the first quarter of fiscal 2017, ended June 25, 2016.
Northcoast Research Holdings LLC is downgrading shares of Monro Muffler Brake Inc. Nick Mitchell, senior vice president of research, says the change reflects “increasing doubts regarding the organization’s ability to achieve its intermediate-term financial goals due to in-store execution issues, as well as lofty valuations.”
Monro Muffler Brake Inc. will report fiscal 2017 first quarter earnings on July 28, 2016. The company will host a conference call and audio webcast at 11:00 a.m. Eastern Time.