Monro posts sales, income gains
Monro Muffler Brake Inc. posted sales of $107.7 million during the fourth quarter of its 2006 fiscal year, which ended March 31. That's a 22% increase over the same period during the previous year.
Monro's operating income for the quarter amounted to $6.5 million, up 16.2% from $5.6 million in the prior year quarter. Meanwhile, the company's net income for the quarter increased to a record $4.2 million compared to $3.2 million for the prior year period.
In addition, Monro's comparable store sales increased 7.3% during the fourth quarter. The store sales increase was driven, in part, by an 18% increase in tire sales.
Monro opened three locations and closed four stores during the fourth quarter, ending its fiscal year with 698 outlets.