Monro boosts sales to new record
Monro Muffler Brake Inc, the country's fourth largest independent tire store chain, posted record sales of $118.7 million during the third quarter of its 2009 fiscal year.
Monro's comparative store sales grew by nearly 6%, exceeding the company's original projections of 2% to 4%.
Operating income for the quarter totaled $9.9 million, an 11% increase over the same period during its previous fiscal year.
Monro opened three stores and closed on during the quarter.
Chairman and CEO Robert Gross says the company "continued to reap the rewards of our effective advertising and promotions and our aggressive efforts to gain market share during a challenging time for many of our competitors."