Monro achieves sales, income growth in first quarter
Monro Muffler Brake Inc.'s sales for the first quarter of its fiscal 2008 year totaled $107.6 million, a record for the company and a 9.3% increase over the same period last year.
Monro also says its comparable store sales rose 6.2%, "largely the result of increased sales in the tires, brakes and alignments categories, which increased by approximately 10%, 5% and 26%, respectively."
Monro's net income for the first quarter increased to a record $8.2 million versus $7.6 million during the prior year first quarter.
"We believe we are continuing to gain market share," says Monro CEO and President Robert Gross.
"We are pleased with our top-line performance for the quarter, which maintained the strong trends we experienced in the second half of last year."