Monro achieves record sales, income
Monro Muffler Brake Inc. posted $136.6 million in sales during the second quarter of its 2010 fiscal year, a 13.9% increase over the same period last year and a record for the company.
Monro's second quarter 2010 net income totaled $10 million, up from $7.7 million during the same period last year and also a record for the Rochester, N.Y.-based company, which is the fourth largest independent tire store chain in the U.S., according to the 2009 Modern Tire Dealer 100.
During the second quarter, Monro's comarable store sales grew 7.4%, exceeding the company's target of 5% to 7% growth.
For the first six months of the chain's 2010 fiscal year, Monro's net sales increased 10.2% to a record $264.7 million while its net income jumped more than 25% to a record $19.4 million.
"We are delighted with our continued strong performance and positive traction," says Monro Chairman and CEO Rob Gross.