Monro posts record 1Q sales, income
Monro Muffler Brake Inc.'s sales for the first quarter of its 2010 fiscal year totaled a record $128 million on net income of $9.4 million, another record for the company. That compares to sales of $120.4 million on income of $7.8 million for the same period last year.
Monro officials also report that the dealership's comparable store sales increased 6.2% over the same period during its 2009 fiscal year. Tire sales grew some 7%.
"We are pleased with our results for the first quarter and our ability to extend our strong performance of last year into the new fiscal year, especially given the ongoing challenges in the economic environment," says Monro Chairman and CEO Rob Gross.
Based on current trends, Monro expects its comparable store sales to grow 5% to 7% during the second quarter of fiscal 2010.