Sales, including tires, are up at Monro
Monro Muffler Brake Inc. achieved $112.5 million in sales for the third quarter of its 2008 fiscal year, up 8.4% over the same period last year. Monro's tire sales rose 9% during the third quarter.
Monro's comparable store sales rose 1.9% for the quarter, less than the chain's original projections of 2% to 4%.
"Due largely to challenging economic conditions, consumers
continued to delay purchases of some higher ticket product and service categories," say Monro officials.
Operating income for the quarter was down: $9 million compared to $9.7 million in last year’s third quarter.
But Monro's net income for the quarter increased to $5.3 million versus $4.9 million for the prior year period.
Monro Muffler Brake is the fourth largest independent retail tire store chain in the United States with 115 outlets, according to Modern Tire Dealer research.